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What’s News – JAX Residential Real Estate: Former Jags Owners Give $4.7M Home to Community Foundation to Sell for Charitable Purposes

June 4th, 2014 · Leave a Comment

One of the area’s largest homes changed hands, but remained on the market as former Jacksonville Jaguars owners J. Wayne and Delores Barr Weaver announced they gave their $4.7-million residence to The Community Foundation for Northeast Florida.

Many media outlets reported the philanthropic organization will sell the 14,000-square-foot home along the St. Johns River in the San Jose area for the $4.7-million appraised value. Proceeds will go into the Weaver Family Foundation Fund at The Community Foundation to be used for grants to nonprofit organizations.

The Weavers said they would continue their philanthropy by establishing a $1 million endowed donor-advised fund at the foundation in the names of the buyers who purchase the property at the price offered, $4.7 million.

“This is truly a wonderful – and touching – example of the tremendous generosity of the Weavers,” said Nina Waters, president of the foundation.

For the first time in years, home builders in Duval County pulled more permits in a month for new home construction than builders in neighboring St. Johns County, according to articles June 2-3 in The Florida Times-Union and Jacksonville Business Journal.

In May, builders in Duval County were approved for 227 permits for new home construction, compared to 223 permits pulled by St. Johns County builders. The number in Duval County represented an increase of about 30 percent over the figures in May 2013, the newspaper reported.

Among the new developments under construction in Duval County is Tamaya, a project where builders ICI Homes is currently constructing a 169-home first phase of a project approved for about 2,400 homes.

Year to date, home builders in St. Johns County have pulled more permits than builders in Duval, Clay or Nassau counties. So far this year, St. Johns County builders have received 1,058 permits, compared to 867 in Duval, 375 in Clay and 208 in Nassau

The Financial News & Daily Record reported June 2 the St. Joe Co. appears to be planning a 100,000-acre retirement community in the Panhandle near Panama City Beach that would be larger than The Villages in Central Florida.

St. Joe moved its corporate headquarters from Jacksonville to the Panhandle community of WaterSound in 2010, and has filed land use plans for the retirement development in Bay and Walton counties, the newspaper said quoting two investment analysts that cover the company.

The land use plans could accommodate as many as 170,000 homes that would by far exceed The Villages retirement community near Ocala.

St. Joe CEO mentioned the project during the company’s most recent quarterly conference call, the analysts said.

Two affiliates of Denver-based AIMCO sold two neighboring Baymeadows apartment communities May 15 for $84 million to Harbor Group International LLC, the Financial News & Daily Record reported on May 28.

Shelter Properties IV Limited Partnership, which is a part of AIMCO, sold the Villages of Baymeadows Apartments for $71.85 million to Harbor Group International LLC. The buyers are 37 East Baymeadows Villages LLC and Baymeadows Villages Gardens Associates LLC in care of Harbor Group International LLC, which lists addresses in Ellicott City, Md., and in Norfolk, Va, the newspaper said.

AIMCO Deerbrook LLC sold the Casa Del Mar at Baymeadows apartments at 8025 Baymeadows Circle E. to Casa Del Mar Gardens Associates LLC and 37 East Casa Del Mar, part of Harbor Group. Casa Del Mar was built in 1983 on 12.4 acres.

What’s News – JAX Residential RE is a roundup of area housing news that is posted on Wednesdays. To contribute, contact [email protected]

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