Jacksonville has issued a $35.55 million building permit to LandSouth Construction LLC to construct the 370-unit Presidium at Town Center apartments.
The Texas-based developer announced earlier this month it intended to start development immediately on the $60 million community after it bought 17.51 acres from the Jacksonville Transportation Authority on Aug. 28 for $6.73 million, the Jacksonville Daily Record (JDR) reports. The overall project value is estimated at $60 million.
Mark Farrell, Presidium president of development, told JDR he expects completion in mid-2021 and the clubhouse and first building to be ready in 13 to 14 months.
The 470,000-sq. ft. development will include five four-story apartment buildings and five two-story carriage-house buildings along with a leasing and amenities building.