Prospect Real Estate Group has secured approval for Advantis Vivere, a 300-unit apartment complex in Jacksonville, Florida. Per the Jacksonville Business Journal, the development will comprise at least five buildings, averaging around 70,000 square feet each. The project itself comprises 364,197 square feet of new construction.
The Jax Daily Record notes that Advantis Vivere will offer 140 one-bedroom apartments, 148 two-bedroom apartments, and 12 three-bedroom units. Little is known about the homes’ interior. However, sources indicate that Advantis Vivere will host a number of amenities, including a 6,972-square-foot clubhouse and dumpster enclosure.
Developers purchased the build site earlier this year.
Advantis Vivere will take shape on a build site measuring 14.5 acres. Tampa-based Vivere Poe LLC purchased the vacant parcel from Starratt Crossing LLC for $5.2 million earlier this year. Other involved parties in the venture include American Landmark Apartments of Tampa (the owner) and BCC Construction LLC of Deland (the general contractor).
Advantis Vivere will cost at least $55 million to complete. Our sources don’t indicate when the community will start or finish construction. Yet, we know that the venture’s address is 660 Starratt Road, North Jacksonville, Florida, 32218, in Duval County.
The community will butt up against Daybreak Woods, a single-family development. Advantis Vivere will also be north of Florida 295 and east of I-95.
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Not happy a rental community is going into a residential area with mostly single-family homes and some condominiums. Ownership helps keep the property values high. This will certainly drive down home values in the area. This is NOT good city planning.