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Marina San Pablo work to begin in a few weeks


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The Times-Union

Construction of Marina San Pablo, one of several high-end developments on the Intracoastal Waterway, will begin in the next few weeks.

Marina San Pablo, near Butler Boulevard and San Pablo Road, will have 113 luxury condominiums, a 90-slip marina and six single-family residencies when complete. Mark Farrell, president and chief executive officer of Vestcor Co., the development company, said site clearing should begin in the next few weeks. The first phase of the project should be complete 18 months following. Brassfield and Gorrie, a Birmingham, Ala., company, is handling the construction.

Farrell said another developer bought the site in the early '80s for a condominium project that never panned out. Vestcor bought the 17-acre property, which is vacant except for a 45-slip marina, two years ago.

The $100 million project includes two 12-story condominium buildings, a revamped marina and six residential lots. Vestcor has already sold the majority of the condos in the first building, will begin selling the second soon and is taking names of potential residents for the single-family sites.

The cost of the condos range from $500,000 for a two-bedroom unit to more than $2.5 million for a penthouse. Farrell said because of the large size of the property, the company can control the cushion of space surrounding the homes. Farrell said the property would be the top of luxury with granite countertops, high ceilings and waterfront views.

Several other luxury projects, such as Pablo Creek and San Pablo Place, will soon be neighbors to the Vestcor project. The Parc Group is developing Pablo Creek, a high-end residential project. Steinemann and Co. Development is planning San Pablo Place, an upscale hotel, office and retail project.

"I think that area is going to be a tremendous quadrant in terms of quality," Farrell said.

Councilman Jerry Holland, whose district includes this high-growth area, said the growing interest in waterfront living has spurred such projects, and land value.

"It's a reflection of how attractive the area is to live," Holland said. "We've still got a lot of growth left to experience in this area because the property values are so high it dictates high-end projects."

sarah.skidmorejacksonville.com, (904) 359-4268

This story can be found on Jacksonville.com at http://www.jacksonville.com/tu-online/stor..._16929476.shtml.

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