Sep

30

St. Johns River could get a makeover

Filed Under Jacksonville Condos, Jacksonville property development 

A plan to put up three condo towers on the St Johns River came up before the Design Review Committee recently, a plan which was greeted with lots of enthusiasm by the committee members.

Little wonder since the plan, called St Johns Point, also involves 840 luxury condo units, a little over 100,000 square feet of retail space, 115,000 square feet of office space and even room for two restaurants. What is there to not get enthusiastic about? The plan evokes huge ambitions and a new look for the St Johns River.

The towers will rise at least 30 stories high and also thrown in will be boat slips and parking decks.
The company who originally pitched the proposal no longer has a controlling interest. That now belongs to Michigan-based Crosswinds Communities who refused to reveal the purchase price but the land is independently valued at $40 million.

It’s been indicated that the original development cost estimates of $234 million will probably end up increasing.
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