Ventures Development Group (VDG) and Batson-Cook Development Company (BCDC) have closed on a nearly 7-acre site in St. Augustine, Florida, where the joint-venture partnership will break ground next month on The Southerly at World Golf Village.The Class A multi-family project will be in the World Golf Village, a 6,300-acre master-planned, mixed-use golf community in the Jacksonville area. It is advantageously positioned adjacent to I-95, on one of the most integral thoroughfares connecting residents to Jacksonville and Florida’s First Coast.
“BCDC is pleased to be partnering on our fifth project with VDG,” said Litt Glover, President and CEO, BCDC. “The Southerly will be conveniently situated between Jacksonville and downtown St. Augustine, providing residents with access to a thriving job market and first-rate entertainment options.”
“We are pleased to work again with BCDC in providing another best-in-class residential community, specifically to the St. Augustine market,” said Sean Siebert, Principal of Ventures Development Group. “We believe our attention to detail differentiates our communities from others in delivering what tenants desire when choosing their homes.”
The Southerly will feature luxury finishes and resort-style community amenities, including a pool with cabanas, an outdoor amenity deck with kitchen space, a fire pit, and a fitness center. The property will also feature a game room, dog park, detached parking garages, carports, backyards and a gated front entry.
The 224 units will be spread across two four-story residential buildings, each served by elevators. Apartments will feature 13 different floor plans, with an average size of more than 1,000 square feet.
The community targets local employees who prioritize a convenient commute to job centers, a strong community amenity package, luxury unit finishes and proximity to an established amenity base.
Cadence Bank is providing financing, along with co-sponsors VDG, BCDC and Origin Investments. Humphreys & Partners is the architect, with Flournoy Construction Group serving as the general contractor.
The partnership anticipates the delivery of the first units in early 2023.
About Ventures Development Group
Ventures Development is a fully-integrated multi-family development and management firm with offices in Southlake, Texas and St. Augustine, Fla. VDG believes in a “value creation” approach when taking on real estate development opportunities. Whether through Rezoning, Entitlement Reform or Incentive Procurement, VDG believes all great and successful development opportunities begin and end with organic value creation. For more information, visit www.venturesdevelopmentgroup.
About BCDC
Founded in 1963, BCDC is a wholly-owned subsidiary of Kajima USA. It is a fully integrated real estate organization providing development and capital solutions, primarily through partnerships on commercial real estate projects in the Southeastern United States. Based in Atlanta, Georgia, BCDC offers a wide variety of real estate services from development and construction to equity and credit enhancements, to brokerage and property management. Learn more by visiting batsoncookdev.com.
About Origin Investments
Origin Investments helps high-net-worth investors, family offices and registered investment advisors grow and preserve wealth by providing best-in-class real estate solutions. They are a private real estate manager that builds, buys and lends to multifamily real estate projects in fast-growing markets throughout the U.S. Since its founding in 2007, Origin has executed more than $2.6 billion in real estate transactions and its principals have invested more than $60 million alongside investors. Origin prides itself on offering unparalleled service to investors and its performance ranks the firm in the top decile of the best performing private real estate fund managers ranked globally by Preqin, an independent provider of data on alternative investments. Earlier this year Origin raised $265 million for its QOZ Fund I. The firm is currently accepting new investors for its open IncomePlus, Multifamily Credit and QOZ II Funds. To learn more, visit www.origininvestments.com.
