MAA Joins Hallmark, Bristol on Development of $37M Mixed-Use Project
By Georgiana Mihaila, Associate Editor
Less than a week before groundbreaking, a major multifamily player is added to the construction team of the newest residential and retail project in the Brooklyn area of downtown Jacksonville.
Memphis-based Mid-America Apartment Communities, Inc. (MAA) will join Hallmark Partners Inc. and Bristol Development LLC on the $37 million 220 Riverside project.
Set to break ground on Nov. 13, 220 Riverside will include a 294-unit upscale apartment community with structured parking and luxurious common areas. The seven-story apartment development will feature units ranging in size from 615 square feet to 1,200 square feet. 220 Riverside will sit on a two-acre site, approximately one mile southwest of Jacksonville’s Central Business District in the Riverside neighborhood.
220 Riverside will directly front a new community park and amphitheater. The majority of the units will have river, park or courtyard views. The development will also feature 18,000 square feet of retail stores and restaurants on the first floor of the project fronting the community park and Riverside Avenue. Other amenities featured at 220 Riverside will include a fitness center, active club room, cyber café and a rooftop courtyard with a resort-style pool, outdoor kitchen and seating niches overlooking the St. Johns River.
According to Jacksonville Business Journal, MAA currently owns 12 apartment communities in Northeast Florida. Two of these properties—Atlantic Crossing on Gate Parkway and Tattersall at Tapestry Park—are among the highest-dollar commercial real estate transactions in 2011.Tags: Development, luxury, operations, retail