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Daily Record JACKSONVILLE
REAL ESTATE DEVELOPMENT
THE MATHIS REPORT
Daily Record
Homebuilders close on 550 acres at Butler, I-295
JACKSONVILLE
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SEVEN PINES COMMUNITY
A master-planned community is designed at southeast Butler and Interstate 295. Seven Pines will comprise 1,600 single-family homes, apartments and more than 1 million square feet of commercial and retail space. The community will include a 34-acre park with a lake. The 67-acre area north of Seven Pines was planned for a mixeduse development called Highland Row, but the contract for that deal expired.
JACKSONVILLE
STAFF WRITER
ICI Homes and David Weekley Homes announced Dec. 23 the purchase of 550 acres of Skinner family land to develop Seven Pines, a master-planned community within the 1,063-acre Southeast Quadrant at Butler Boulevard and Interstate 295. It did not announce the purchase price.
Two historic Downtown buildings take reuse step JWB applies for $9 million in permits to renovate the Federal Reserve and Baptist Convention structures.
had 67 acres under contract to construct Highland Row. It was designed with a food hall, grocery store, movie theater, apartments, hotels and event space. Fuqua’s contract expired. In August, A.C. “Chip” Skinner said the sale of most of the single-family residential land in the quadrant was expected to close by the end of the year.
In another move toward the adaptive reuse of two historic Downtown buildings, developer JWB Real Estate Capital applied to the city for permits totaling an estimated $9 million in construction costs. That boosts Jacksonvillebased JWB’s anticipated investment in the buildings to $11.4 million including the purchase price. The applications Dec. 22 come after JWB filed civil engineering plans with the city Dec. 18 for review to redevelop the Federal Reserve and Baptist Convention buildings at Hogan and Church streets. JWB President Alex Sifakis said Dec. 22 the group hopes to start the renovation in the third quarter of 2021. He did not estimate a completion date. He said both would be renovated simultaneously. Both are for mixed uses. Sifakis did not estimate a total investment cost. One permit shows that JWB
SEE SEVEN PINES, PAGE 2
SEE MATHIS, PAGE 2
Construction at the former Skinner family land is expected to start in January. BY KATIE GARWOOD
KAREN BRUNE MATHIS EDITOR
Once completed, Seven Pines will comprise 1,600 single-family homes, apartments and more than 1 million square feet of commercial and retail space, said the news release. The community will include a 34-acre park with a lake. ICI and David Weekley will develop the residential portion of the project. Plans show Seven Pines will be south of the quadrant’s Village Center property, where Atlanta developer Jeff Fuqua
The Retreat at St. Johns sold for $72.75 million A New York City investment firm purchased The Retreat at St. Johns apartments near the University of North Florida for $72.75 million on Dec. 21. Investcorp bought the 420-unit property from Atlantabased RangeWater Real Estate. The apartments at 12310 Seacrest Lane were built in 2007 at northeast Kernan and Butler boulevards. The sale was brokered by Walker & Dunlop multifamily specialists Brian Moulder, Bobby Gatling and Dhaval Patel. Walker & Dunlop also handled the financing for the buyer.
VOLUME 108, NO. 30 • ONE SECTION