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  • Krista Fracke PA
    RE/MAX Coastal Real Estate
    50 A1A North
    Ponte Vedra Beach, FL 32082
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With condos hitting the $1 million mark, the question inevitably arises - what about prospective homeowners who can’t afford the hefty price tag? What about all the numerous public sector workers who need affordable housing? That was the conversation subject for 5 Jacksonville property developers who got together to discuss the topic. They all agree that workforce housing is a “top priority”.

One of them, Cameron Kuhn, considers “affordable” to be “anything under $200,000″.

However, these developers do come across as a little hypocritical. While they say that affordable housing is a priority, all their upcoming residential projects all come with a hefty price tag of between $500,000 and $1 million. Maybe they should actively do what they preach?

http://tinyurl.com/ftvqh

Jacksonville once again beat the odds in April by having the largest increase in the median sales price and the smallest decrease in sales in the whole of Florida.

Even though sales dipped 4%, Jacksonville’s median price for existing single-family homes shot up 15% to sit just under $200,000. This is in comparison to the rest of the state which only saw an increase in the median price of 13% to sit at just under $250,000 while statewide sales slumped 31%.

Jacksonville’s median price for condos also rose 3% to rest at just under $164,000.

http://tinyurl.com/f75z9

Faced with ever increasing costs for construction materials, one Jacksonville developer is attempting to beat the increases and save some cash by leasing two warehouses to stockpile materials in bulk.

It will end up costing him $200,000 a year to lease the two warehouses for storage space but Mayo Clinic Jacksonville estimates that the alternative is to spend ten times as much buying the materials as and when they are needed.

To give you an idea of the costs involved, the cost of copper pipe has risen over 70% in the past year.

http://tinyurl.com/mmeue

According to this Florida Association of Realtors news release, there’s been quite some movement in Florida real estate figures, especially for Jacksonville in the first quarter of 2006.

The median sales price for the whole state rose 20% to $248,000 while the statewide median sales price for condos rose 8% to almost $218,000.

In Jacksonville, the figures look even more impressive. Almost 4000 homes were sold which equates to an increase of 5% since last year. The median sales price shot up an impressive 17% to $200,000.

http://tinyurl.com/rp675

It isn’t easy being a farmer these days. During the past decade, they’ve been fighting the advance of the residential developments, designed mainly for retired people.

But one St John’s County farm is adopting a “if you can’t beat them, join them” attitude by trying to combine farming and residential development on the same piece of 890 acre-land, in partnership with a Jacksonville developer.

The development includes approximately 800 homes in varying sizes, 60,000 square feet of commercial space, parks, a school and a horse riding trail.

http://tinyurl.com/g2g4w

The Aetna building has unveiled its future new neighbour as plans were revealed for a 51-story high-rise condo tower next door which will eventually be the tallest structure on the Southbank.

With prices for the 300 condos beginning at $400,000, the all-glass tower apparently already has 400 interested buyers. Those are successful at buying one of the condos can expect to move in within 3 years.

The project will be a joint venture between Hines and the South Shore Group Partners LLC.

http://tinyurl.com/hc5pf

The Southbank’s tallest building is on the way. Designs were recently unveiled for the construction of the St John condo tower which, if all goes according to plan, will sit next to the Acosta Bridge.

The 51-story 300 unit building will be constructed by companies Hines and South Shore Group Partners LLC. Unit sizes start at 780 square feet and prices begin at $400,000. If you manage to get one of the units, expect a moving-in date of 2009.

But it may be the extra facilities and features which really gets peoples attention - a large pool, fitness center, yoga studio, saunas, spa and tai chi lawn. Plus on the roof will be a large light tower so you can be sure that your building will be seen by everyone at all times.

http://tinyurl.com/kvgx7

They started by building a unique building with unique features. Now “13 Minute Productions” are developing a 16 unit condo building in Jacksonville which will offer what they call “diverse living opportunities”.

The $5 million building will be situated at the corner of Liberty and Duval Streets and will range in price from $200,000 to the low $400,000’s. These reasonable prices makes the condo units within easier reach for those wishing to live there.

http://tinyurl.com/evzde

$38 million has been spent on Jacksonville property deals by a California company, the most expensive purchase being Ashton Ridge for $18.9 million.

The properties were sold by Apartment Investment Management Co (AIMCO) and sold to the Bethany Group. AIMCO owns and operates 1370 apartment communities.

http://tinyurl.com/hqfma

10 million new home owners – that’s the ambitious target for the Great American Homeowner Challenge.

This was announced at a meeting of the Jacksonville Women’s Council of Realtors which was also attended by Wells Fargo and the Cummer Museum and Gardens.

The group was told that 40% of people are buying a home this year for the first time.

The Cummer Museum is in the process of building a larger gallery along with a renovated parking lot and a café.

http://tinyurl.com/jxx9e

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