Real estate development firm Corner Lot and DLP Capital, a real estate investment and financial services firm, have partnered and closed on a deal that will bring a vibrant new mixed-use community to northwest Duval County. The 1,400-acre proposed development will include single-family residential lots, approximately 200 acres of commercial development, and more than 600 acres of conservation land. Located southwest of the Old Kings Road and Thomas Road intersection, the development will be located less than 10 miles from Jacksonville International Airport and in close proximity to I-295, several employment centers, and Downtown Jacksonville.
“Our goal is to develop a community for those who want to live and work in a beautiful coastal city that is also one of the hottest urban markets in the country,” said Andy Allen, Corner Lot CEO. “It’s an exciting time to be in Jacksonville, and we’re going to work with DLP Capital to capture that momentum and build a community that will grow and evolve with the city.”
The property is entitled with previous development rights, but revised development plans will be updated to meet the current needs of the City of Jacksonville. Conceptual plans for the development include a variety of commercial, retail, restaurant, hospitality, and recreational opportunities. Corner Lot’s development team will work in collaboration with the City of Jacksonville, Florida Department of Transportation, and JEA (Jacksonville Electric Authority) to bring the project to the market in the upcoming year. In addition, Corner Lot will oversee horizontal development on the project while pursuing partnerships with national homebuilders to construct a community Jacksonville residents will be proud to call home.
“The greater Jacksonville area is seeing tremendous employment growth but is limited in its supply of affordable homes for the area’s workforce,” said Jim Boyce, Managing Director of Construction and Development at DLP Capital. “This new development will be a much-needed addition to a vibrant and growing community, and it’s well- aligned with DLP Capital’s mission of addressing the affordable housing crisis in America.”
The project is scheduled to break ground in the second quarter of 2023. Breeze Homes has been selected as a homebuilder for the community, and additional homebuilders are expected to be announced next year. This marks the second community development project in which Corner Lot and DLP Capital have partnered. Corner Lot is a member of the exclusive DLP Elite Impact Housing community, comprised of high-growth, high-impact real estate operators.