Jacksonville City Council member Ken Amaro, who has long decried the debilitated condition of Regency Square Mall in Arlington, issued a statement of support April 10 in the wake of the property’s sale to a developer who plans to redevelop the prominent site.
“The recent acquisition of the legendary Regency Square Mall marks an exciting milestone for our community’s growth and transformation. This property represents more than just land — it is an investment in our collective future not only for the Arlington area, but Jacksonville as a whole,” said Amaro, who represents District 1.
“For years this former gem of all shopping centers has been the bane of community complaints. This past summer, my office dealt with the issue of their malfunctioning AC units with the utmost firmness and efficiency, and we were successful in getting what would be considered the only improvement the former owners have ever made to the mall during their tenure as owners completed. This only reinforces the fact this sale was well overdue,” he said.
Lake City-based Blackwater Development LLC announced April 9 it has closed on its purchase of the property at 9501 Arlington Expressway, where Regency Square opened in 1967 as Jacksonville’s first regional mall.
Duval County property records show that the Regency Mall Realty LLC group, which is selling to Blackwater Development, owns about 74 acres and about 980,200 square feet of retail space at Regency Square.
Three LLCs led by New York-based Regency Mall Realty LLC bought the mall for $13 million on Feb. 14, 2014, as occupancy plummeted through changing market conditions.
Regency Mall Realty LLC is a partnership of Mason Asset Management and Namdar Realty Group LLC, both based in Great Neck, New York. They are known for buying struggling malls.
Ongoing deterioration since then had generated city code compliance fines of $1.85 million as of March 3, prompting Amaro and other area supporters to call for corrections.
Amaro said that as the district Council member, he aspires for the new owners “to cultivate a prosperous and connected community where residents can live, work, and play for generations to come.”
Blackwater founder and President Rurmell McGee said the acquisition group planned a transformative redevelopment called The Nexus at Regency.
“The principal of Blackwater Development, Mr. Rurmell Mcgee, said they have been in pursuit of this property for six years, and after all this time they have finally secured the sale,” Amaro said in the emailed statement.
“My hope is that the new owners’ vision is to create opportunities for new businesses, housing, and shared spaces that reflect the needs and aspirations of everyone in the area.”
Amaro said it could not be stressed enough that “this is a transformative opportunity that I hope the new owners will take full advantage of.”
“This is a new day for Arlington and Jacksonville.”