The 30-story, 295-unit Strand at St. Johns is expected to be completed in 22 months. The tower will comprise rental apartments, lofts, townhomes, flats, penthouse suites and a 450-car parking garage.
Groundbreaking for a second 30-story, $60 million Peninsula at St. Johns condo tower will depend on first-phase sales activity at The Strand, American Land president Granvil Tracy tells GlobeSt.com. The Peninsula construction track will also be 22 months.
The estimated 200 to 250 Peninsula condos will tentatively be priced from $200,000 to $750,000 with penthouse homes asking more than $1 million per unit. The sales center will open in the fourth quarter. The third phase will add office and retail.
"With its riverfront location adjacent to the upscale San Marco retail neighborhood, The Peninsula at St. Johns will provide an ideal combination of location, amenities and price in the red-hot Jacksonville riverfront market," Tracy says.
Other high-end residential projects American Land has completed in the state are the New River Village in Downtown Fort Lauderdale, The Strand in West Palm Beach and The Cove at Scotia Plantation in Hypoluxo in Palm Beach county.
Dorsky Hodgson + Partners of South Florida designed The Strand and The Peninsula.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
