New Mixed-Use on the Horizon in Jacksonville
- Jan 26, 2016
Jacksonville, Fla.—Hines announced it is acquiring a 105-acre property at the intersection of Interstate 295 and J.T. Butler Boulevard on Jacksonville’s Southside, giving a new neighbor to the IKEA already under construction. Working closely with the City of Jacksonville, national planning firm RTKL Associates and local engineering firm ETM, the company plans to develop a mixed-use, master-planned community at the new site.
Located in the southwest quadrant of the intersection, the development will provide an integrated live, work and play environment, blending residential, office and neighborhood retail. Centrally positioned in one of Jacksonville’s most active submarkets with entertainment, retail, transportation and employment areas, its location benefits from easy access as well as good visibility. Plans aim for a neighborhood focused on connectivity, walkability, pedestrian-friendly pathways, a central lake amenity and abundant green space.
Lane Gardner, Hines’ Jacksonville-based managing director, said after the land is bought, the company will need to get the site designated as a planned unit development by Jacksonville’s City Council, but that process will happen after the land is bought, according to the Jacksonville Business Journal. The Journal also reported that Gardner said the project could take six to eight years to complete since, “We take a lot of time in the planning process to make sure the uses are fully integrated. We want all the uses to work together.”
Hines’ local presence in Northeast Florida dates back to 1999, when it entered the market with the 2,200-acre Palencia community. Since then the company has grown its local presence in Jacksonville to include the acquisition of The Markets at Town Center and Markland, a new residential community under development in St. Johns County.
Image courtesy of Hines