Construction to begin on San Marco Crossing

Construction to begin on San Marco Crossing
Rendering of Chance Partners newest San Marco Crossing, as one looks toward the northwest.

San Marco Crossing, Chance Partners’ newest Jacksonville development, will begin construction on its two-building, 486-unit housing community in July.

The approximately $86 million project is being developed jointly by EJF Capital LLC and Chance Partners on nearly nine acres of land that was formerly home to Southside Assemblies of God church in San Marco. The area, which consists of three parcels, is certified as an “Opportunity Zone” under the Tax Cuts and Jobs Act of 2017, which offers investors attractive tax benefits when they invest to create economic growth in lower income areas.

“We are excited to partner with Chance Partners on San Marco Crossing, which will bring high-quality multifamily units to this growing area and create a significant number of construction jobs as well as permanent property management positions. We believe small businesses in San Marco will also benefit from the added economic vitality that results from the spending power of about 700 expected new residents,” said Neal Wilson, EJF co-founder and chief operating officer, in a press release.

Jeff Rosen of San Jose, principal with Chance Partners, agreed. “San Marco Crossing will be a significant catalyst in connecting the historic San Marco Square with the revitalization occurring along Atlantic Boulevard and further into the San Marco East mixed-use corridor,” he said.

The development is expected to open its doors to residents in the fourth quarter of 2020, with the total project being completed by summer 2021. A formal groundbreaking will be held in late August or early September, said Rosen.

San Marco Crossing will consist of two four-story multifamily buildings each with its own parking garage that will cover nearly two city blocks. The north building, which will be located between Olevia Street and Bertha Street, will consist of 290 one-, two- and three-bedroom apartments, while the southern building, which will lie between Bertha Street and Mitchell Avenue, will hold 196 apartments. Each building will have many amenities, including its own leasing office, co-working space, fitness center, resort pool, bikeshare and doggie spa. Nearly every apartment will have a balcony, and ground-floor units will each have their own patios or porches. “San Marco Crossing has been designed to be a pedestrian community taking advantage of its walkability to San Marco,” said Rosen.  

San Marco Crossing’s general contractor is Live Oak Contracting of Jacksonville. Dynamik Design Partners of Atlanta served as the architect. Kimley-Horn of Jacksonville is the civil and environmental engineer with landscaping provided by Pittman Landscape of Jacksonville and financing provided by Ameris Bank and Valley National Bank.

“We’re thrilled for San Marco Crossing to begin,” said Rosen. “It’s been a couple of years working with the church, assembling the parcels, working alongside the community and with Councilwoman Lori Boyer through the entitlement process. We are thrilled to be able to provide essentially two full city blocks of housing this close to San Marco and to really activate the entrance people will use to come off I-95 and down Atlantic Boulevard and to be able to get it all together. We are excited for how this will impact the whole neighborhood in a positive manner.”

San Marco Crossing comes on the heels of Chance Partners’ neighboring project, San Marco Promenade. As a gated multifamily residential community adjacent to Philips Highway, the first phase of San Marco Promenade will boast 284 one-, two-, and three-bedroom apartments and will be open to residents in January 2020. Once San Marco Crossing is complete, Rosen said he expects his company to turn towards building out San Marco Promenade’s final phase, a 226-unit development on the south end of its property near Alexandria Oaks Park.

“We’d like to see the first phase get open and leased up,” he said. “It will allow us to make any design changes and react to the marketplace as we see residents get in and we get their feedback.”

By Marcia Hodgson
Resident Community News

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