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Jacksonville Business Journal
Tennessee hotel developer proposes project in Jacksonville
A Chattanooga, Tennessee, developer plans to build a hotel near the St. Johns Town Center.<\p> 3H Group, Inc., submitted site plans to the City of Jacksonville through Jax Village Lodging, LLC on June 14. The plans show a four-story, 122-room Hyatt Studios off Village Crossing Drive.<\p>
Toon Town brings six pickleball courts to downtown venue
More than 500 people showed up last weekend to celebrate the opening of Toon Town Pickleball, an indoor pickleball venue a few blocks away from EverBank Stadium.<\p> The six-court complex occupies a former warehouse on Church Street that previously served as an event space, home to two pizzerias and as a gathering place for food trucks.<\p>
With communities nationwide, this townhome developer has plans for Jax
A Texas-based developer with several communities in Florida is planning a townhome development in west Jacksonville. <\p> Forestar submitted site plans to the City of Jacksonville June 13 for an 88-unit townhome development called Francis Pointe. The development is located off Francis Road and West Edgewood Avenue.<\p>
Major landlords targeted by class-action lawsuits over pricing
Several major apartment landlords from across the country are under fire over rental rates — allegations that have spawned a wave of class-action lawsuits and garnered the attention of state and federal authorities. <\p> The lawsuits have high-stakes for the apartment market and beyond, with potential to shape how pricing software could be utilized in multiple industries. <\p>
New construction looks to attract retailers to Murray Hill
A local developer is building a spec retail building in Murray Hill, looking to attract more local merchants to the area. <\p> TSG Realty is constructing the shell building on a dirt lot at the corner of Plymouth Street and Edgewood Avenue. TSG purchased the property from Edgewood Retail LLC for about $600,000 in 2024 (Edgewood remains the owner of the storage facility just south of the property.)<\p>
Vendors, artists invited to be part of St. Augustine music festival
Local artists, food vendors and non-food vendors have less than a month left to apply to be part of the Sing Out Loud Festival.<\p> Applications will be accepted through July 12 for the St. Augustine music festival that takes place in September.<\p>
Here's the first group of the area's fastest-growing companies
Building a company is always difficult. Building a company that continues to grow year after year is an immensely more challenging endeavor.<\p> That’s why we are proud to recognize the companies that have been the fastest growing on the First Coast over the past three years.<\p>
Homeowners continue to build equity, impacting future buying decisions
American homeowners continue to build significant equity even as the housing market has slowed and home prices aren't rising as rapidly as they did in recent years.<\p> U.S. homeowners with a mortgage pulled in $28,000 in equity gains on average year over year in the first quarter, the highest amount since late 2022, according to CoreLogic Inc. That average year-over-year increase of 9.6% translates to a collective gain of $1.5 trillion and means net homeowner equity totaled more than $17 trillion at the end of Q1.<\p>
Southeast Toyota Jaxport, Murray Hill retail top permits
Approximately $42.27 million of work was approved across 599 permits for the seven-day period ending June 17. Removing 548 permits for single-family homes, townhouses, duplexes, mobile homes and condominiums leaves 51 permits totaling $6.37 million.<\p> Among the top permits for the period are:<\p>
Trailer Bridge expands to Europe, hiring exec with Jax connection
In the wake of getting a piece of a multimillion-dollar federal contract, Trailer Bridge is expanding to Europe.<\p> The Jacksonville-based transportation provider announced Thursday that it was establishing its European headquarters in Frankfurt, Germany.<\p>
Historic neighborhood near downtown looks to expand its advocacy reach
An industrial area west of downtown that has been attracting more retail and commercial interest over the past six years is looking to expand its advocacy reach.<\p> The Rail Yard District Business Council is in the process of raising funds for an executive director, whose role would including lobbying agencies such as the Florida Department of Transportation and the city to work on crucial infrastructure.<\p>
Here's when rebuilding could begin on destroyed Doro
After the Downtown Investment Authority Strategic Implementation Committee unanimously voted Friday to recommend approving the new package of incentives for the Rise Doro, construction could kick off later this year.<\p> With $15.45 million in city incentives in the pipeline, reconstruction on the project could begin by September.<\p>
Baptist Health ready to open its latest St. Johns County facility
Under construction for the last 16 months, the Baptist/Wolfson Children’s ER and Imaging Center will open June 17 in St. Augustine.<\p> Decorated with art and murals in a blue and green marine palate, the medical facility is a dedication to efficiency and consideration for convenience.<\p>
New medical facilities coming to Mandarin
Baptist Health is expanding its network of care into Mandarin.<\p> The city is reviewing a $6 million permit for a multi-specialty medical facility at Mandarin Landing, which will house a new cardiology office and two primary care practices, Baptist Health said in a statement to the Business Journal.<\p>
Baymeadows office building sold for $4.1 million
A local civil contractor purchased an office building in the Butler/ Baymeadows submarket. <\p> Petticoat Schmitt Civil Contractors Inc. purchased the property at 8014 Bayberry Road for $4.1 million. NAI Hallmark Senior Vice President Daniel Burkhardt represented the seller, Bayberry Wells Leasing LLC. <\p>
Butler Boulevard hotel sold for $9 million
The La Quinta Inn & Suites by Wyndham Jacksonville Butler Boulevard sold for $9 million.<\p> JTB Hotel Group LLC purchased the property located at 4686 S. Lenoir Ave. from Cavalier Florida LP on June 4. The seller is associated with the real estate investment and hospitality management company Highgate Corporate, based in Texas.<\p>
Boutique hotel proposed for St. Augustine Beach
A proposal for a boutique hotel in St. Augustine Beach is scheduled for review in the coming days.<\p> The St. Augustine Beach Planning and Zoning Board will consider the plan to build an eight-room hotel, called the Selva Hotel, on three lots in the Coquina Gables subdivision at 0 A1A Beach Blvd. at the intersection with E Street.<\p>
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