Vestcor Faces Competition As Johnson Commons Offers Competing LaVilla Plan

Jun 18, 2019

Downtown workforce housing developer Vestcor Companies has competition for the purchase and development rights of eight city-owned parcels in LaVilla.

WJCT News partner the Jacksonville Daily Record reports Johnson Commons LLC submitted a letter of intent Monday to the Downtown Investment Authority to purchase the property on West Adams, Johnson, Lee and West Forsyth streets for $100,000 and build a mixed-use development.

Business Brief: Vestcor Wants To Build 70 Townhomes In LaVilla

Johnson Commons is a joint venture of JWB Real Estate Capital LLC and Corner Lot Development LLC.

JWB is led by President Alex Sifakis and Corner Lot by CEO Andy Allen.

Plans for the three-story Johnson Commons call for 98 for-sale townhomes in 19 building blocks with one-car garages and “a minimum” of 9,500 square feet of retail space.

An expanded version of this story that includes a map of the proposal, along with estimated home prices and additional details is at JaxDailyRecord.com.