First Coast News Video: Karen Brune Mathis First Business Report
Almost 700 apartments are on track for development in the Deerwood Park area
at Butler and Southside boulevards.
Early next year, The Vestcor Companies of Jacksonville plans to break ground
on the $25 million, 400-unit Tivoli at Deerwood Apartments, and Wood Partners of
Atlanta intends to start construction on the $20.5 million, 282-unit Woods at
Deerwood Park.
Both developers say the spot is a hot one for job growth, making the Butler
and Southside boulevard location a prime candidate for luxury apartments.
"It's right near all your employment," said Vestcor President Mark Ferrell,
noting the Deerwood Park and Butler Boulevard office developments, the nearby
University of North Florida and its First Coast Technology Park and the
potential regional shopping villages under design for the area.
The Tivoli at Deerwood Apartments now is under Jacksonville Planning and
Development Department review. Plans show the 30-building, 400-unit project is
designed on 26.5 acres along Gate Parkway North, on land owned by the Skinner
family. Those plans show the apartment buildings, a community center with an
indoor athletic area, and mail kiosks and maintenance building. The development
ownership name is VCP-Tivoli Ltd.
Farrell said said Vestcor wanted to break ground in February and be completed
in about 22 months. The project will comprise one-, two- and three-bedroom
units, and half of them will have direct access to garages.
Monthly rents will range from an average $750 for the one-bedroom units to
$930 for the two-bedroom apartments and $1,150 for the three-bedroom units.
Sizes will run from about 900 square feet for the one-bedrooms to 1,550 for the
three-bedroom units, he said.
"We're real excited about that market," said John Rood, Vestcor chairman.
The Tivoli will go up next to another Vestcor multi-family complex, the
320-unit Portofino Apartments.
Meanwhile, developers of The Woods at Deerwood Park, which probably will
carry the "Alta" brand name, intend to start construction early next year on a
282-unit complex that will include 10 apartment buildings along with 10 garage
structures.
Wood Partners, based in Atlanta, expects to complete the project in about 15
months, said partner Igal Knobler, who works at Wood Partners' Orlando office.
The 16.15-acre site sits along Touchton Road between Gate Parkway and Southside
Boulevard.
The project now is under review by the St. Johns River Water Management
District.
The one-, two- and three-bedroom units will range from about 640 and 1,500
square feet in size, Knobler said earlier this year. Monthly rents could range
from about $660 for the smallest one-bedroom units to $1,230 for the
three-bedroom, two-bath apartments, he said in May.
Knobler said his information shows that occupancy rates are "very strong" in
the Deerwood Park area. Wood Partners' target market will be the "young
professionals working in the Deerwood Park area, people working in the JTB
[Butler Boulevard] corridor who don't want to commute to the office."
The daily scoop
The Wavve Data Center has been OK'd to take shape in Southside. The city
approved about $16.8 million in interior construction for the project, which
will occupy a 65,300-square-foot building at the Salisbury Business Park. That
park, a Liberty Property Trust development, is at 7251 Salisbury Road. Turner
Construction Co. of Miami is handling the Wavve build-out. Wavve
Telecommunications Inc. of Sacramento, Calif., said this summer that it would
invest $26 million into the project, its first East Coast data center, and hire
up to 100 workers. The space comprises about 45,000 square feet for a
co-location data center and the remainder will be used for administrative and
other space. Spokeswoman Lynne Wall said in August that operations should start
in early 2001. The project will comprise a network operations center as well as
a customer service center. Wavve is a third-party provider and manager of
Internet communications for other companies.
Renovations were approved for Clear Channel Communications Inc. at 11700
Central Parkway. The Tower Group Inc. is contractor on the $3.1 million job,
which is part of Clear Channel Jacksonville plans to invest up to $9 million to
combine the staff and operations of two television stations, 10 radio stations
and an outdoor media company under one roof. We reported in July that Clear
Channel wants to develop a 120,000-square-foot complex in the EastPark Office
& Industrial Park in Southside, where it now operates the television
stations. Clear Channel Jacksonville President Josh McGraw said during the
summer that the company would redevelop its existing 60,000-square-foot building
into a 90,000-square-foot structure with the addition of internal walls and
floors to convert warehouse space into office use. The entire job was expected
to be completed early next year. EastPark is at Beach Boulevard and St. Johns
Bluff Road.
