Land Across from St. Johns Town Center Under Contract for 347 Apartments
Stanmore Partners, a Houston based apartment development and investment firm, is under contract to purchase 6.6 acres of land near the St. Johns Town Center and plans to develop up to 347 apartment units on the site, which it plans to call Ravella at Town Center Apartment Homes. Before that deal can go thru, Preferred Growth Properties must first close on the 61.35 acres that it has under contract with the Arthur Chester Skinner III Trust, expected to close at the end of January. The plans for the site include a one building complex with a seven level parking garage and two courtyards. That deal is expected to close in the 2nd quarter of 2016.
Posted on November 12, 2015, in Development, JAX Daily Record, Land, Multifamily, Residential and tagged Arthur Chester Skinner III Trust, preferred growth properties, Ravella at Town Center Apartment Homes, St. Johns Town Center, Stanmore Partners. Bookmark the permalink. Leave a comment.