Jacksonville Real Estate Blog Apr
25
Real estate sales in Jacksonville shot up by 9% in March, even as statewide sales went down by 22%, proving once again that Jacksonville always manages to beat the odds.
Jacksonville’s median sales price was a healthy $197,400 which is an increase of 15%. Plus according to research compiled by the Florida Association of Realtors, condo sales were up 52%.
Apr
25
Free property guide & CD on offer
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WCI Communities who are the developers of Costa Verano in Jacksonville Beach have got together with the Florida Chamber of Commerce to offer a freebie. They have produced a limited edition booklet called “Splitting to Paradise: Your Guide to Owning a Second Home in Florida.”
They have also thrown in a free road trip CD which you can play while travelling around Florida looking for that second dream home.
Just go to www.splitters.com and leave your details!
Apr
21
The project has had some initial teething problems but all going well, Madeira, consisting of residential and office / retail space will start construction soon in Jacksonville.
Spread over 400 acres of a now-defunct golf course, the project has been hindered by environmental protests which ended up in court. Now that those problems have been successfully dealt with, the developer is looking forward to finally starting.
When finished, expect to see over 700 residential units and 170,000 square feet of office / retail space with prices starting at $300,000. Also in the proposed development is 53 acres for parks and wetlands.
Apr
21
Developer to fill Jacksonville condo needs
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A true entrepreneur sees a gap in the market and exploits it to make a profit. That’s what one company is planning to do in Jacksonville with warehouse condo complexes.
The 12 condos, which will be built on the Westside will be up to 30,000 square feet each and aimed at small business owners needing a warehouse for their day-to-day operations, such as light manufacturing businesses.
The company is banking on the condos being quickly snapped up as soon as they come onto the market and from previous property trends, that outlook seems to be pretty much on the mark.
Apr
14
One side pulls out of San Marco Village deal
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No sooner had they announced their participation in the San Marco Riverfront Village than they then decided to pull out of the deal altogether.
The Related Group of Florida, which is based in Miami, originally got together with Riverwalk Hotels LLC to build the 2000 unit village. But now they have withdrawn from the project, citing various reasons, including wanting to see how the city responds to Riverwalk Hotels’ request for $30 million in financing. Their withdrawal now leaves the way open for another developer to step in and take their place.
Apr
10
Second Berkman Plaza tower gets July start
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The second tower of Berkman Plaza is scheduled to start in July but not before a sales center opens up for pre-sales.
The tower is expected to be finished in late-2008 with prices starting at $170,000 and penthouses starting at $700,000. There will be 222 units in all spread across 23 storeys.
The developer is DB Holdings will open a sales center on East Bay Street in June.
Apr
7
When renovation is better than demolition
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Sometimes tearing down an old building isn’t the best solution. Sometimes it really does pay to renovate the building and in the process keep some of the city’s history intact.
It can be profitable too. Those renovated buildings can then be turned into office condos.
Case in point is the Greenleaf and Crosby Building where a $1 million renovation project has turned the building into office condo units starting at $750,000.
The Greenleaf Building joins other renovated historical buildings in Jacksonville including 11 East Forsyth, the Carling, the old Barnett Bank Building and the former Roosevelt Hotel.
Apr
7
When the name is just as important as the property
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Sometimes naming the property can be just as important as building the property itself. A good name can make the properties sell like hot cakes while a bad name can sink the building before anyone has even moved in.
Developers often have a name in mind when launching the project or they use consultants and / or marketing agencies to come up with a catchy-sounding moniker.
But similar sounding names run the risk of confusing potential buyers. Would you be able to instantly tell apart “The St Johns” from “St Johns Point”? With lots of St Johns out there, developers run the risk of over-using the name to the point where people can’t distinguish one from another.
Apr
5
Ashley Tower set to turn into condos
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A downtown apartment building, currently on sale, could end up as condos.
The property in question, Ashley Tower has 16 storeys and 205 units. The first step towards converting them into condos has already been started with occupants’ leases now going from month-to-month and some of the units have already been changed to serve as showpieces for potential buyers. Tours for interested parties have already started.
The building is valued at a little over $2 million.
Apr
1
From Las Vegas to Jacksonville?
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It seems that Las Vegas is not so easy to turn a profit as everyone thinks. This piece from the Miami Herald profiles Jorge Perez who, along with actor George Clooney, planned to build condos near the Las Vegas Strip. Now the project has fallen through and they are now deciding whether to sell the 25 acres of land. Selling the land may also turn a profit so the situation is still salvageable.
While other developers insist their Las Vegas condo projects are going ahead as planned, Perez is already focusing on his other projects, including one in Jacksonville. No details yet on what that project is.