301 Capital Partners paid $27.5 million for 11,366 acres in Duval and Nassau counties, one of the largest residential land transactions in North Florida since the recession.
The property was formerly known as ICI Villages. The project is entitled for more than 11,000 residential units, 3,750 multi-family units, 750,000 square feet of commercial space and 300,000 square feet of office space. Site engineering will begin immediately, and construction is scheduled to commence in early 2020.
The acquisition is the result of two years of negotiations between 301 Capital Partners and the California-based owners of the ICI Villages.
301 Capital Partners is a partnership between North Florida developers BHK Capital and Roberts Land & Timber Investments.
For more information about this project, contact Jim Hissam at (904) 309-9977 or Austen Roberts at (386) 496-3509. BHK Capital’s other projects can be viewed on their website bhkcap.com.
