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JACKSONVILLE
Record & Observer $135M plan for site of Berkman II
RESIDENTIAL REAL ESTATE ISSUE JACKSONVILLE
Record & Observer BIG DEMAND, LOW INVENTORY
Residences and retail are planned for the site.
LUXURY MOVING FAST
BY MIKE MENDENHALL
JACKSONVILLE According to NEFAR, 78.8% more homes, condos
Record & Observer STAFF WRITER
and town houses priced at $1 million or higher sold in March compared with the same period in 2020. “We’ve seen a huge influx in the amount of buyers,” says RealtorJennifer Martin Faulkner.
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JACKSONVILLE
A day after Jacksonville Riverfront Revitalization LLC started demolition work at the vacant 18-story Berkman Plaza II, the developer released a $135 million plan for the Downtown site. During an April 28 news conference at the 500 E. Bay St. property, City Council member Reggie Gaffney, development group co-manager Park Beeler and city officials presented a 320,000-square-foot mixed-use residential project to replace what speakers called a riverfront eyesore. The building has sat unfinished since 2007. KBJ Architects renderings show a 26-story tower and midrise component totaling 293 residential units and a 537-space parking garage. The project will have 249 apartments with 40 town houses and four penthouses. Beeler said 50,000 square feet of ground-floor retail will have a 20,000-square-foot grocery store and pharmacy. He said Jacksonville Riverfront Revitalization has a $5.6 million purchase of the property in escrow. Perry-McCall Construction Vice President Brad Glass said the company is in early discussions to build the project. Demolition contractor Pece of Mind Environmental Inc. expects demolition to take four months.
Record & Observer NEFAR’S NEW PRESIDENT
Missi Howell didn’t see herself becoming an agent during her real estate banking career.
TOP 10 HOME SALES OF Q1 The top 10 single-family residential real estate sales in Northeast Florida, comprising Duval and St. Johns counties, in the first quarter of 2021.
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Lumber prices, labor shortages taking toll on homebuilders The cost has increased more than 200% since April 2020. BY KATIE GARWOOD STAFF WRITER
Despite strong demand for housing, Northeast Florida homebuilders are becoming increasingly cautious when putting speculative homes on the market as lumber prices continue to rise. MasterCraft Builder Group founder and
CEO Chris Shee said he first noticed an increase in 4-by-8-foot oriented strand board, an engineered wood panel, in September. In August, he paid just more than $10 a Shee sheet. Now, it is around $55, he said. The National Association of Home Builders estimates prices have increased 200%
Soaring costs
$24,000 How much soaring lumber prices have contributed to the average price of a single-family home, according to the National Association of Home Builders.
MMENDENHALL@ JAXDAILYRECORD.COM (904) 356-2466
MORE ONLINE See renderings of the project at JaxDailyRecord.com
SEE LUMBER, PAGE 4
REVIEW & COMMENT
Beware of inflation: The insidious tax on us all Plus: Update on insurance bill. PAGE 6 VOLUME 3, NO. 48 • ONE SECTION