Newspaper article The Florida Times Union

Regency-Area Development Getting Closer

Newspaper article The Florida Times Union

Regency-Area Development Getting Closer

Article excerpt

Byline: Karen Brune Mathis, Times-Union senior business writer

If all of the regulatory targets are met, developers would like to break ground on the proposed 296-acre Kendall Town Center in Regency by this time next year.

"We're working on it," said Ken Wilson, president of developer GL National Inc.

Kendall Town Center is a mixed-use retail, office, hotel and residential center planned between Florida 9A and along both sides of Southside Boulevard, also called the Southside Connector, and Gilmore Heights Road in that area. The property is north of Regency Square mall and south of Merrill Road.

GL National is part of Jacksonville-based Gate Petroleum Co. It still needs to complete a development agreement with the city and gain approvals for its planned-unit development, a process that takes another step in two weeks.

A City Council committee has scheduled a public hearing at 2 p.m. April 3 at City Hall for the project's proposed fair-share assessment contract.

"It's likely, if things proceed well, that we could commence within 12 months," Wilson said yesterday. That commencement would include construction of infrastructure, roads, utilities and landscaping.

After that, further construction would depend on developers who buy the property for their own projects. "There have been a lot of people interested in the Regency area," Wilson said, but there are no contracts at Kendall Town Center.

The Transportation, Environment and Energy Committee will hold the hearing about the proposed $6.65 million fair-share assessment that GL National would pay to the city in return for the ability to develop the property. The city had found insufficient traffic capacity for the project, and the fair-share agreement would address that. The contract has a 10-year term.

According to the contract, Kendall Town Center could comprise:

-- 1,920 multifamily residential units. …

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