Located in the South Shores neighborhood, where flood prone properties are being acquired and razed, the site has an estimated 3.4 acres of uplands with an estimated 0.6-acres of wetlands.
According to the development team, the project would help serve the neighborhood and environment by cleaning up an old wasteland and dump site. At this time, the project is in the early stages and the developer is still working through its due diligence process. The project has not yet hired an architect for design purposes.
Here is a look at a massing plan to see how the project may or may not be developed. The massing plan was produced by the developer’s brokerage as a part of a marketing plan to raise capital for the project. Its intent was to add content and show potential views from the apartment floors above a proposed two floor parking deck. Once the feasibility studies have been completed, the developer intends to hire an architect and go through full design, including compliance with the Downtown Investment Authority and Downtown Development Review Board design standards.
Take a look and let us know what you think about additional development in the South Shores neighborhood.
Capstone Land Sales is pleased to present the exclusive listing for River South Development Site, a 4.06-acre land site located in Jacksonville, FL. The development site is ideally located in the Southbank/San Marco area of Jacksonville’s Urban Core, which is one of the fastest-growing rental submarkets in the MSA. Developers have taken notice of the explosive growth within the area and have begun construction on expansive mixed-used projects to provide residents with even more entertainment outlets, most recently the Rivers Edge: Life on the St. Johns. This submarket has seen above-market rent growth for Class A assets and displays developer-friendly fundamentals while maintaining rents at a premium when compared to other Jacksonville submarkets. Located just off I-95, future residents will benefit from enhanced connectivity to Downtown Jacksonville as well as expedited access to I-10. The River South Development Site also benefits from its proximity to an abundance of employers, economic demand drivers, and lifestyle amenities. The River South Development Site is an outstanding opportunity to develop a multi-family community in the rapidly growing Jacksonville market.
Source: https://listings.capstone-companies.com/offering-info/1214/1/
Article by Ennis Davis, AICP. Contact Ennis at edavis@moderncities.com