Falcone Group Begins Phase II Construction of Jacksonville Community
- Jun 15, 2021
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.