Jacksonville, FL (May 24, 2016) After several community workshops hosted by City Council Member Becton along with Hines representatives and local residents within the area, the Hines Mixed-Use development is on its way to becoming a reality as City Council passed Bill 2016-283.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 199 cities in 19 countries. Hines has $87 billion of assets under management, including $43 billion for which Hines provides fiduciary investment management services, and $44 billion for which Hines provides third-party property-level services. The firm has 104 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,100 properties, totaling over 346 million square feet. The firm’s current property and asset management portfolio includes 531 properties, representing over 186 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most respected real estate organizations in the world.
Hines has nearly 60 years of development experience throughout the world and a strong local presence in Northeast Florida dating back to 1999 when it began the award winning 2,200-acre Palencia community. The master-planned, mixed-use community in St. Augustine has served as a model for development in northeast Florida. In the 16 years since it started Palencia, Hines has grown its local presence in Jacksonville to include acquisition of The Markets at Town Center and Markland, a new residential community under development in St. Johns County
This development for which Hines has its eye on, is located on Gate Parkway, north from the recently announced IKEA. This prime real estate is 105-acres of property between the FBI building and the Shoppes of Village Walk within a short walk from the communities of James Island, The Reserve at James Island, Heritage Deerwood, and Oxford Chase. The Planned Unit Development (PUD) for which got approved has plans for uses to include: Single Family Homes, Apartments, Commercial Office, Retail, Restaurants, and even a hotel. What was omitted from this PUD was any type of convenience store / gas station.
This Mixed-Use development’s goal is to be a “Work here / Live Here” environment. As stated by Managing Director Lane Gardner, “It will be the place to be for people, tenants, residents and neighbors to meet, gather, live, work, relax and enjoy life, as all development will focus on connectivity, walk-ability, pedestrian-friendly pathways, a central lake amenity and abundant green space for everyone to enjoy.”