Vestcor Companies delayed construction of its for-sale town house development in LaVilla twice this summer and the company said it is hesitant to begin the project in a Downtown market impacted by COVID-19.
Ryan Hoover, president of Vestcor subsidiary TVC Development Inc., said Sept. 2 that the company sought two extensions to its development agreement with the Downtown Investment Authority and the city to build the 88-unit town house project, according to WJCT News partner the Jacksonville Daily Record.
Hoover said Vestcor still plans to complete the development but won’t begin construction until the for-sale product market, which includes Downtown employees and people seeking an urban core lifestyle, returns.
“You have a lot of people who really aren’t even in Downtown now. I assume that everything will be back to some form of normal,” Hoover said.
“As long as things come back where we’re comfortable to do it (the town houses). We really worked hard on it,” he said.
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