A permit has been granted by the Jacksonville-area river water planning district for Southbank to construct a 125-slip marina as part of the RiversEdge project. This massive mixed-use development, spearheaded by Preston Hollow Community Capital, will feature retail and office spaces, restaurants, a hotel, hundreds of residential units and new park space along the riverfront on 30 acres.
It should be noted that Preston Hollow is not directly responsible for developing RiversEdge. Instead, they are marketing individual property parcels to other developers.
One such developer is Toll Brothers – a national luxury home builder – who purchased a 2.76-acre parcel within RiversEdge for $4.1 million in March to develop 40 townhome units.
According to Commercial Edge reports, all components of the RiversEdge project are coming together smoothly and its expected completion date in 2025 is becoming more realistic with each passing day.
The post titled “Southbank Developer Greenlighted for RiversEdge Marina” was originally published on Connect CRE.
