Jacksonville-based Chase Properties Inc. is finalizing an agreement to purchase Reddi-Arts at 1037 Hendricks Ave. in San Marco and redevelop the property into two restaurants.
Chase Properties President Mike Balanky said Thursday the development will be called Southbank Crossing.
Plans include splitting the Reddi-Arts building into two separate spaces — a 6,000-square-foot south building and a 4,600-square-foot north site. Both restaurants will have patio seating.
“There is some intrinsic value in that building. We want to get as much adaptive reuse out of it as possible,” Balanky said.
The developer also plans a 54-space surface parking lot. Balanky estimates construction will take about four months, once the purchase is final.
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