Gatlin and Gate Partner on Durbin Lakes Retail Project
Gatlin Development and Gate Petroleum have announced a strategic partnership to develop Gate’s Durbin Creek property, located in northern St. Johns county, where I-95 and 9B connect.
According to the developer, the first phase will include a total of 600k square feet on 80 acres and will be anchored by 3 big box retailers, accounting for 450k SF (150k SF balance will be small shop retail / restaurants). Without naming the anchor tenants, Mr. Gatlin described them as: “a discount department store, a home improvement store and a membership club”. The initial phase is estimated to cost $125m, with construction set to begin in Q1, 2017 and a 1 year expected construction timeframe.
The project is designed for 4- 5 year phases. The property is 1,600 acres, of which only about 600 is developable. Eventually it will encompass 2.4m SF of retail/shopping center space, 2.8m SF of office, 350 hotel rooms and 999 multifamily units. The retail component is expected to cost about $500m, spread over the 4 phases. A major highlight of the project, includes the areas first and long awaited Bass Pro Shops, which should occur in the second phase of development.
Posted on January 29, 2016, in Development, Hotel-Restaurant-Tourism, JAX Daily Record, Jobs/JAX Economy, Land, Multifamily, Shopping Centers/Retailers, St. Johns County, Uncategorized and tagged Bass Pro Shops, Durbin Creek, Durbin Lakes, Frank Gatlin, Gate Petroleum, Gatlin Development. Bookmark the permalink. Leave a comment.