Developer set to start building 400-unit Jacksonville apartment complex
A developer expects to start construction within 30 days for a 400-unit apartment complex in the Southside area of Jacksonville.
Permit applications show that the cost of the construction work is $38 million, and developer WRH Properties Inc. expects to finish building the rental project in 20 months.
An affiliate of WRH paid $9.2 million for the 16.6-acre development site at 4929 Skyway Drive, next to the campus of health insurer Florida Blue.
The sellers were Guidewell Group Inc. and Blue Cross and Blue Shield of Florida Inc.
The WRH affiliate also obtained a $39.2 million loan from State Farm Life Insurance Co. secured by the 16.6-acre site.
The rental housing development, called Ciel, will have six apartment buildings, each four stories tall, plus a two-story, 8,500-square-foot clubhouse and two parking garages, each one story tall.
Ciel will have one-, two- and three-bedroom apartments with monthly rents starting at $1,150.
The size of the apartments will range from 654 square feet for a one-bedroom unit to $1,900 for three-bedrooms.
In addition to the clubhouse, the common-area amenities at Ciel will include a swimming pool, spas for people and pets, a fitness center, business center, dog park, bicycle shop for storage and repairs, and electric-car charging stations.
The city of Jacksonville approved site-clearing work for Ciel on June 23 and is now reviewing applications for permits to construct the apartment complex.
The general contractor is Summit Contracting Group and the architect is Humphreys & Partners Architects. [Jacksonville Daily Record] – Mike Seemuth
Source: The Real Deal