Arlington Properties Inc. bought 28.41 acres in West Jacksonville for development of 266 apartment units and future retail development at Tapestry Westland Village.
The Birmingham, Alabama-based company paid $3.08 million for the site at 7589 Plantation Bay Drive. Redus Florida Land LLC of Charlotte, North Carolina, sold the property.
Tyler Nilsson, senior managing director of ARA, Newmark Knight Frank, represented the seller.
“There is very strong demand for new luxury apartment product in this submarket and this high-end product will be well-received in this location located within a mile of a new Costco and Walmart development,” said a statement from Newmark Knight Frank.
The city issued a mobility fee calculation certificate for the mixed-use Tapestry Westland Village mixed-use development at 6505 Plantation Bay Drive.
The site is along Collins Road at Interstate 295.
Plans show the 266 apartments among 12 buildings, in addition to a clubhouse, along with a 6,000-square-foot gas station and convenience store with 20 fueling positions as well as a 4,000-square-foot fast-food restaurant with a drive-thru.
The apartments include a dog park, pool and other amenities.
The city calculated a mobility fee of $504,062 to mitigate the traffic impact.