A permit has been approved by a river water planning district in the Jacksonville area for Southbank to construct a 125-slip marina as part of the RiversEdge project. This massive mixed-use development, led by Preston Hollow Community Capital, will include retail spaces, offices, restaurants, a hotel and hundreds of residential units on 30 acres of land along the riverfront.
It should be noted that Preston Hollow is not directly involved in developing RiversEdge vertically. Instead, they are responsible for marketing individual property parcels to other developers.
One such developer is Toll Brothers – a renowned luxury home builder with national presence. They have purchased a 2.76-acre parcel within RiversEdge for $4.1 million in March and plan to develop 40 townhome units as part of this project.
According to Commercial Edge reports, all components of RiversEdge are slowly coming together and its expected completion date has been pushed closer from its initial projection year – now set at 2025.
The latest update on the Southbank development reveals that it has received approval from the local river water planning district to build an impressive marina with space for up to 125 boats as part of their larger project called “RiversEdge.” The ambitious mixed-use venture spearheaded by Preston Hollow Community Capital will encompass various amenities like retail outlets, office spaces restaurants and even accommodation options including hotels spread across an expansive area measuring approximately thirty acres along Jacksonville’s waterfront.
However it must be clarified that while Preston Hollow oversees operations related only towards marketing different plots within River’s Edge; they do not play any role when it comes down towards vertical construction activities being carried out here instead leaving them entirely upon third party developers who might express interest over time!
In fact one such company which recently acquired around two point seven six acre plot worth four point one million dollars during March goes under name ‘Toll Brothers’ known nationally due their expertise building luxurious homes! Their plans include constructing forty townhomes as part of RiversEdge’s development.
As per Commercial Edge’s latest reports, all the various components that make up RiverEdge are gradually starting to fall into place which has led to its expected completion date being brought closer from what was initially projected – now set at 2025.
