Developer Plans To Turn Downtown Jax Office Building Into Apartments, Grocery
Another Downtown Jacksonville office building is slated for redevelopment.
St. Augustine-based Augustine Development Group bought the former Independent Life and Accident Insurance Co. home office building at 233 W. Duval St. Downtown for $3.7 million, according to WJCT News partner the Jacksonville Daily Record.
Bryan Greiner, president of Augustine Development Group, said Tuesday his group bought the 64-year-old building last week and plans to invest about $28 million in the 180,000-square-foot, 19-story structure.
The group plans to develop 140 market-rate apartments on the second through 18th floors, a grocery store on the 21,000-square-foot ground floor and basement, and a rooftop terrace with a pool, lounge and a high-end sushi and seafood restaurant on the top floor.
The restaurant and grocery store will be leased to a private operator, he said.
KBJ Architects designed the building, which was completed in1955.
An expanded version of this story that includes additional financing and construction plans is at JaxDailyRecord.com.