Falcone Group Begins Phase II Construction of Jacksonville Community

Sentosa Beachwalk II. Image courtesy of Summit Contracting Group

Sentosa Beachwalk II LLC, an entity controlled by Falcone Group, has started construction on the second phase of its community near a 14-acre artificial lagoon. Phase II of Sentosa Beachwalk in St. Johns, Fla., is slated for completion by December 2022. 

The developer tapped Summit Contracting Group to build the 298-unit property and ARC3 Architecture Inc. to design the community. The Falcone Group previously tapped both Summit and ARC3 to build and design its 368-unit community in Riverview, Fla.

For the developer’s latest project in St. Johns, the 390,100-square-foot community will offer one-, two- and three-bedroom units spread throughout six four-story buildings. The community will also be built with amenities including a clubhouse, swimming pool, pool pavilion, kids park, dog park and detached garages.

CRYSTAL LAGOON CENTERPIECE

The second phase project will be located across from The Elysian, a 348-unit community that was built as the project’s first phase. Located at 65 Sentosa Drive, The Elysian was completed in 2019 after receiving a $51.6 million construction loan in September 2018. The community also offers one-, two- and three-bedroom units, which range in size from 624 to 1,322 square feet.

Electra America’s subsidiary American Landmark Apartments acquired the first phase community in April 2020 for $79.5 million from Summit and subsequently rebranded it to The Elysian.

Both communities are part of the master-planned Beachwalk Club development that is also being undertaken by the Falcone Group. The mixed-use development includes single-family homes, multifamily and retail uses alongside amenities like the man-made Crystal Lagoon, a beach club, fitness center, tennis courts, waterslides, dog park and kayaks and paddleboards.