JACKSONVILLE, Fla. – A Phoenix-based development company is planning to build a 300-unit luxury apartment building on the former Crawdaddy's Restaurant site on the Southbank. It is to be called the Broadstone River House.
The land is between Lexington Hotel & Conference Center Jacksonville Riverwalk and the Duval County School Board headquarters.
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Alliance Residential Company has entered a contract with the three-acre site's Miami-based ownership, which is reorganizing under Chapter 11 bankruptcy laws, reported by Karen Brune Mathis, managing editor of the Jacksonville Financial News and Daily Record.
"We love the Southbank and I am really encouraged by the attention and the investment the city has put into the Riverwalk itself," said John Zeledon, North Florida managing director for Alliance.
Alliance Residential representatives have met with Downtown Investment Authority staff about the project, but Tim Graff, vice president of development, said the group isn't necessarily seeking taxpayer incentives. Alliance Residential is onlyh asking DIA to help expedite entitlements to start the project sooner rather than later.
Alliance Residential would like to start development early next year and complete the project within two years.
While there are no renderings yet, the project is envisioned as a five- to six-story structure of 250 to 300 studio, one-, two- and three-bedroom apartments. A parking structure is planned.
Zeledon said Broadstone River House would be similar in concept to Alliance Residential's recently opened Broadstone Hyde Park in Tampa, an "urban-modern community" of 259 apartments with nine-foot ceilings, gourmet kitchens and wood flooring.
The community areas outside include a pool, courtyard, fire pit and game areas. Inside amenities include a social clubroom and billiards lounge, and a health club that features a yoga studio, a spin studio and top-grade fitness equipment.
Zeledon said Broadstone River House's rental structure would be in line with those at 220 Riverside, a new apartment community on the Northbank in the Brooklyn area.
Monthly rental rates there range from $1,100 for a studio up to $2,000 for the largest two-bedroom unit. It doesn't offer three-bedroom units.
Graff had no estimate yet of the development costs.