Lofts at LaVilla

Lofts at LaVilla 2018-07-03T15:10:01+00:00

Project Description

Brokers:
Julie Bohn Howard

Client:
D&D Companies and Jacksonville Bank

Parcel Address:
995 Water Street, Jacksonville, Fl; Consisting of a 4-acre urban block Downtown

Size (Acres):
4 acres

Use:
Urban Residential

Challenges Encountered:
There were eight various parcels between two different owners sporadically spread throughout an urban block directly across from the Civic Center in Downtown Jacksonville. A portion of the block had been dealing in litigation matters due to a lender taking title. The entire site had environmental contamination requiring extensive mitigation for the site to be utilized for a multi-family purpose. We had to assemble the contiguous parcels and achieve trust and exclusive right to negotiate on behalf of both owners to strategically market the proposed site.

Results Achieved:
We successfully identified the best multi-family developer to provide the highest and best use and achieve maximum value for both owners of the site. The time and effort was extensive due to many factors including the environmental issues and time needed to mitigate problems within the process. We managed to keep all parties intact while resolving title and acquisition matters. The sale was ultimately a successfully outcome with two multi-family projects consisting pf 300 units with an associated future retail component. These projects have given the LaVilla submarket momentum to many other new projects continuing strong growth in the urban Downtown market.

For more information, please contact:
julie.bohn@cushwake.com

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