Ford on Bay Proposals: Apartments, Offices, Hotels and More | Jax Daily Record | Jacksonville Daily Record

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Silver Hills: the ford on the bay

Silver Hills: the ford on the bay

Silver Hills Development Inc. and Edwards Cos. — Southeastern United States real estate developer based in Shaker Heights, Ohio.

Dimensions: Four to eight floors.

Residential: Up to 315 apartments.

Retail: Up to 20,000 square feet of retail space, including outdoor patios.

Car park: Garage with 470 spaces for multi-family users and retail businesses.

Approvals: Rooftop entertainment area; Riverwalk public promenade; possibility of managing the marina.

Financial:

• 15-year Recapture Enhanced Value Grant (property tax refund).

• Purchase of land for $2.5 million from the city.

• $2 million from the promoter for the improvement of pedestrian walkways.

• Donation of $500,000 to an organization chosen by the city for downtown or civic events.

Chronology: Fall 2024 rental.


Mid-America Apartments LP

Mid-America Apartments LP

Real estate developer based in Germantown, TN with a regional office in Jacksonville.

Dimensions: Seven stories.

Residential: 306 apartments.

Retail: 17,959 square feet of retail space — boutiques, restaurants and public spaces. Including:

• 5,759 square feet on Bay Street.

• 12,000 square foot waterfront retail pavilion with outdoor dining terrace.

Car park: Eight-level parking garage for multi-family and retail users.

Approvals: Over 10,000 square feet of amenities for residents on Bay Street; open space connecting a residential swimming pool/courtyard to the street; residential front porch entrances on Market Street.


VanTrust Real Estate

VanTrust Real Estate

Industrial, office, mixed-use and residential developer based in Kansas City, MO with a regional office in Jacksonville.

Dimensions: 322,625 square feet.

Residential: 290 units.

Retail: 6,000 square feet of retail/rental/amenity space; 5,000 square foot stand-alone restaurant; Additional amenity space of 8,500 square feet.

Car park: 468 spaces, parking on 6½ levels. Including:

• 413 residential places.

• 55 commercial spaces.

Approvals: Skydeck; waterfront public square; resident courtyard and pool; and a dog park.

Financial: The project cost of $99,458,062 includes:

• Land cost of $3.4 million for the developer.

• $17,572,062 in permits and fees.

• Construction costs of $78,486,000.

Chronology: 27 month construction time.


Related development

Related development

Miami-based condo and apartment developer.

Dimensions: Eight stories.

Residential: 310 one, two and three bedroom apartments.

Retail: Approximately 28,500 square feet of retail space. Including:

• 8,300 square feet of ground floor retail space.

• 10,000 square feet of living/working space.

• 10,000 square foot waterfront restaurant with a 3,000 square foot rooftop lounge.

Car park: Car park with 565 spaces including 100 spaces for public use.

Approvals: Memorial to the Great Fire of 1901 – 18 columns symbolize the piers and quays once on the outskirts of the city; outdoor bars and restaurants by the river on the roof and on the ground floor.

Financial: The project cost of $118,608,000 includes:

• Land cost of $9 million.

• Construction costs of $90,085,619.

• Permits and fees of $15,964,128.

• Contingency of $3,558,253.


Jax Riverfront LLC

Jax Riverfront LLC

Partnership between SouthEast Development LLC, based in Jacksonville, and City Development Co, based in Nashville.

Hotel: Reverb by Hard Rock hotel with 150 rooms.

Residential:

• 95 residential condominiums of one, two and three bedrooms.

• 300 apartments. Including:

• 60 social housing units.

Retail: 54,575 square feet of retail and entertainment space, including a rooftop restaurant.

Office: Modular space.

Car park: Underground structure with 425 places.

Approvals: Cafe Marina with green roof; public hardscape and plaza.

Financial:

• Land acquisition cost of $8 million for the promoter.

• The total development cost of $253,450,000 includes:

• $43.2 million hotel.

• $137.65 million multifamily and parking.

• $52.6 million in residential condominiums.

• $13.75 million at retail.

• Office of $6.25 million.


Carter: The Hardwick at Ford on Bay

Carter: The Hardwick at Ford on Bay

Carter is an Atlanta-based developer specializing in multi-family, mixed-use, office, and student housing projects.

Dimensions: Residential tower 300 feet high, residential basement 75 feet.

Residential: 332 units.

Retail: 25,000 square feet including two restaurants including one by the river.

Car park: 550-space garage with 125 parking spaces.

Approvals: Swimming pool on the roof and pleasure terrace above the parking garage; waterfront plaza; ecological buffers, tree canopy; waterfront park with green roofs; and water resistant garden yard for storm surge resistance.

Financial:

• CBRE brokerage commission estimated at $2.43 million.

• Land ceded free of charge by the city.

• $2.5 million open public space.

• 20 year, 75% Recapture Enhanced Value Grant (property tax refund).

• Total developer cost of $140 million.

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