The Southbank area in Jacksonville has received approval from the local river water planning district to build a marina as part of the larger RiversEdge project. This mixed-use development, spearheaded by Preston Hollow Community Capital, will cover 30 acres and include retail spaces, offices, restaurants, a hotel, residential units and new park areas along the riverfront.
It’s important to note that while Preston Hollow is overseeing this project as a whole, it is not directly responsible for developing each individual property within it. Instead, they are marketing these parcels to other developers.
One such developer is Toll Brothers – a renowned luxury home builder with national reach. They have purchased a 2.76-acre parcel within RiversEdge for $4.1 million in March and plan on constructing 40 townhome units.
According to Commercial Edge reports,the various components of RiversEdge are coming together smoothly and its anticipated completion date of 2025 seems more attainable than ever before.
The latest update on Southbank’s development plans reveals that they have been given the green light by their local river water planning district for their proposed marina at RiversEdge – an expansive project spanning over 30 acres which includes retail spaces , offices , restaurants , hotels , residential units along with new riverside parks . The mastermind behind this ambitious venture is Preston Hollow Community Capital but they will be selling off individual parcels of land within this complex rather than taking charge of all developments themselves .
Toll Brothers has already secured one such parcel measuring up at just under three acres after paying out $4 .1 million back in March ; soon enough we can expect them rolling out forty high-end townhomes here .
Commercial Edge confirms that things seem well underway now with several pieces falling into place nicely so far; if everything goes according to plan then we could see RiverEdges’ grand opening happening sooner than expected i.e., sometime around year end or early next year !
