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Dec. 03, 2019

Chance Partners Completes 228-Unit Jacksonville Community

Chance Partners has completed the final phase of RiverVue, its 228-apartment community in Jacksonville, Fla., that included the renovation of a 16-story tower and new construction featuring 132-units in mid-rise buildings, four townhomes and four carriage homes.

The waterfront community at 3946 St. Johns Ave. is located along Fishweir Creek. With views of downtown Jacksonville and the St. Johns River, RiverVue is also within walking distance of the pedestrian-friendly historic Avondale neighborhood. The property is more than 60 percent leased. Pegasus Residential serves as the property management company.

In Phases I and II of RiverVue, the Chance Partners’ development team renovated the tower with 88 studio, one- and two-bedroom apartments, and also demolished the former St. Johns Village retail center, which had been built in 1987. The brick and bones of the tower were intentionally left intact, while new materials, colors and textures were used to highlight the overall coastal chic aesthetic.

The developer built two new four-story buildings with 132 residences, two-story buildings with four townhomes, four carriage homes and a parking garage for residents. The team kept a conservation area and more than 1-acre of open green space.

Outdoor amenities include a saltwater, beach-entry pool; a firepit; gazebo; hammocks overlooking the water; communal kitchen with gas grills; dog park and dog spa; yoga lawn with free weekly classes for residents; and fishing areas along the Fishweir Creek. Other community amenities include the RiverVue Athletic Club with cardio machines, free weights and a Cardio Theatre system; social lounge; business center; cyber café and a bike share program.

OZ PROJECT IN JACKSONVILLE Chance Partners is also active in an Opportunity Zone development in Jacksonville. In July, the firm teamed up with alternative asset manager EJF Capital on San Marco Crossing, an $86 million multifamily project in the city.

The two-building, 486-unit community in the San Marco neighborhood is scheduled to open in late 2020. It is being developed on three parcels totaling nearly 9 acres within a designated federal Opportunity Zone located on the west side of Philips Highway between Olevia Street and Mitchell Avenue.

The historic infill neighborhood is on the east bank of the St. Johns River and located about two miles south of downtown Jacksonville.

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