David Hsieh

JACKSONVILLE, FLA. - David Hsieh of Marcus & Millichap's Jacksonville office has represented a private party in the $4.35 million sale of 51 rental condominiums in the Reserve at James Island complex to an undisclosed buyer. The 354-unit property is located at 10961 Burnt Mill Rd. in Jacksonville.

Marcus & Millichap, Mike Balanky, David Hsieh,
...
The deadline for sealed bids is Aug. 11, with the goal being to sign up a developer before the end of the year, said David Hsieh, of Marcus & Millichap's Jacksonville office.

>

Hsieh said plans call for a planned unit development that includes the leveling of the 5.8-acre site and the construction of a 17-story condominium tower and a second building with 20,000 square feet of retail space.

"It's been PUD-approved and renamed the St. Johns Village Center," Hsieh said.

Most of the project's 166 units will be in the condo tower, but some will be in the second building.The project will also include dredging of Fishweir Creek and up to 40 boat slips.

Hsieh said Marcus & Millichap is in the early stages of marketing the property and getting the word out about the bid process.But he said he's been in discussion with multiple developers already established in Jacksonville.

The deadline for sealed bids is Aug. 11, with the goal being to sign up a developer before the end of the year, said David Hsieh, of Marcus & Millichap's Jacksonville office.

>

Hsieh said plans call for a planned unit development that includes the leveling of the 5.8-acre site and the construction of a 17-story condominium tower and a second building with 20,000 square feet of retail space.

"It's been PUD-approved and renamed the St. Johns Village Center," Hsieh said.

Most of the project's 166 units will be in the condo tower, but some will be in the second building.The project will also include dredging of Fishweir Creek and up to 40 boat slips.

Hsieh said Marcus & Millichap is in the early stages of marketing the property and getting the word out about the bid process.But he said he's been in discussion with multiple developers already established in Jacksonville.

Marcus & Millichap, Mike Balanky, David Hsieh,
...
The deadline for sealed bids is Aug. 11, with the goal being to sign up a developer before the end of the year, said David Hsieh, of Marcus & Millichap's Jacksonville office.

>

Hsieh said plans call for a planned unit development that includes the leveling of the 5.8-acre site and the construction of a 17-story condominium tower and a second building with 20,000 square feet of retail space.

"It's been PUD-approved and renamed the St. Johns Village Center," Hsieh said.

Most of the project's 166 units will be in the condo tower, but some will be in the second building.The project will also include dredging of Fishweir Creek and up to 40 boat slips.

Hsieh said Marcus & Millichap is in the early stages of marketing the property and getting the word out about the bid process.But he said he's been in discussion with multiple developers already established in Jacksonville.

River Road Development LLC, Marcus & Millichap, David Hsieh,
...
David Hsieh of Marcus & Millichap said his office has already seen some interest from developers.

"There's significant interest from large developers as well as small developers," he said.

The cost of the project will depend on how the developer, who could be chosen by the end of July, approaches the parking question.The site is approved for underground parking, but the cost could be prohibitive.Hsieh said he expects the developer will go with fewer, above-ground parking spaces.

The property is one of the few riverfront parcels in San Marco available for development.

"Everything up and down that boulevard has been either selling or selling out quickly," Hsieh said.