Publix-Anchored East San Marco Project Finally Happening
- Mar 28, 2016
Jacksonville–Regency Centers, a national owner, operator, and developer of grocery-anchored shopping centers, teamed up with ArchCo Residential, Whitehall Realty Partners, and Bluerock Residential Growth REIT, Inc. on their East San Marco development in Jacksonville. Anchored by Publix, this 4.33 acre mixed-use development is planned to be a live, work, and play environment for the San Marco neighborhood. Construction at the $60 million project is scheduled to begin late this summer.
“ArchCo has a stellar track record and was the perfect choice to handle the residential operations of what we are hoping will become a powerful addition to an already great neighborhood. Having Publix as our anchor will enable us to bring in the right merchandising mix that will really reflect the lifestyles and interests of the surrounding area. They are extremely well-respected for their quality of operations, and we couldn’t be more proud to have them as involved as they have been,” said in prepared remarks Jim Thompson, executive vice president operations, Regency Centers.
Located at the intersection of Atlantic Boulevard and Mango Place in the historic San Marco community, East San Marco will feature 46,000 square feet of retail and restaurant space, including a 32,500-square-foot Publix, as well as 239 apartments on top of the retail center. The residences will be comprised of 141 one-bedroom, 76 two-bedroom, 4 three-bedroom units and 18 studios. The apartments will feature nine- and 10-foot ceilings, stainless steel appliances, ceiling fans and state-of-the-art telecommunication devices. Other amenities include an outdoor courtyard with pool, 24-hour fitness center, business center and rooftop patio.
Initially, in 2006, when the project first came to light, the plan was to have condominiums instead of apartments, with opening planned for 2009. Because of the recession and the inherent housing bubble, the project remained shelved until 2013.
ArchCo Residential and co-developer Whitehall Realty Partners will be responsible for the overall construction of the project. Jacksonville-based Whitehall will lead local efforts for the duration of the development and upon completion, while ArchCo and its partner Bluerock will own and manage the residential portion of East San Marco. Regency will own and operate the center’s retail component.
“ArchCo is proud to be part of this exciting project and to be partnering with Regency Centers, Publix, and Bluerock. A mixed-use development of this type creates synergy between the residential and retail which in turn will provide great benefit to the community,” said Neil Brown, CEO, ArchCo Residential.
Construction is slated for completion in late 2018.