New Town Home Development in Ponte Vedra

15 01 2008

One of the last remaining parcels of developable land east of State Road A1A in Ponte Vedra Beach may be developed into town homes.

The St. Johns County Concurrency Review Committee is scheduled to review Jan. 24 a concurrency application for a proposed 60-unit town home project on an approximately 10-acre parcel on Mier Road that is south of Corona Road, and west of Sea Winds Lane.

A group of investors acquired the property for about $2.2 million under the name LGT Holdings LLC in August 2007, according to the St. Johns County Property Appraiser’s Office.

A representative of LGT Holdings said the investment group is pondering a single-family or town home development on land surrounded by The Inlet at Ponte Vedra Beach condominiums, the Colony at Ponte Vedra condos and the Ponte Vedra by the Sea single-family community. Although the details of the project have not been determined, the representative said it would be a high-end, luxury development.

Some of the 215 homeowners in The Inlet at Ponte Vedra Beach condos and Ponte Vedra by the Sea have concerns about traffic during construction and afterward on the shared road Sea Winds Lane as well as the appearance of the entrance to the new community, said Larry Steiner, the president of The Inlet at Ponte Vedra Beach Master Association. That association manages common property among The Inlet at Ponte Vedra Beach condos and Ponte Vedra by the Sea.

“We’ve talked about what the potential might be,” Steiner said of the property, “but when the sign went up a couple of weeks ago we were all pretty shocked.” The investment group would have two years, plus a one-time three-year extension, from the date of the concurrency approval to develop the property.

Source: Jacksonville Business Journal



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