BY DAN HILDEBRAN
A joint venture between Lake Butler and Ponte Vedra developers could break ground next year on a real estate project approved for 11,000 single-family homes, 3,750 multi-family units, 750,000 square feet of commercial space, 300,000 square feet of office space, 340 hotel rooms, and 375,000 square feet of hospital or medical space.
Companies led by Avery Roberts and Jim Hissam purchased the 11,366-acre development, formerly known as ICI Villages and now 301 Villages, in 2017 for $27.5 million.
In 2021, the joint venture, 301 Capital Partners, signed an agreement with JEA, in which the Jacksonville-based utility would provide power to the mixed-use site.
Last week, the Jacksonville City Council approved a $172 million revenue bond issue that would finance water and sewer infrastructure for the project.
According to a conceptual master plan submitted to the City of Jacksonville in 2022, the development is on the western side of U.S. 301, mainly in Duval County, with smaller portions in Baker and Nassau.
The master plan outlines a first phase that includes 2,500 single-family units and 1,000 multi-family, along with commercial and medical space.
The plan envisions a collection of mixed-use villages linked by roads. Each village would feature a village center with commercial space and multiple neighborhoods.
