New Apartment Development in Planning Phase on Southbank
Alliance Residential (Phoenix HQ’d), one of the largest apartment developers in the US, is planning a 255 unit waterfront apartment complex on land surrounding the Lexington Hotel (former Wyndham) on a 3 acre site it just put under contract. The closing will not occur until approvals are in hand, expected around April 2016. The site is located between the Lexington Hotel and Duval County School Board Building. If all goes according to plan, Alliance would like to see construction begin early next year, and anticipates 2 years of construction. Alliance would like to begin construction as early as possible, and therefore is asking the city to fast track the entitlement process. The project is being called “Broadstone River House”, and features/amenities include a 5-6 story building, parking garage, pool, courtyard, fire pit, health club and game/billiards room. A rendering has not been made public, but we will be sure to share once we see it. Alliance is doing similar projects in Tampa and Fort Lauderdale.
Colliers International Northeast Florida is the sellers agent.