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The
Village Walk apartments at 7551 Gate Parkway and is estimated
at a construction cost of $12 million. They comprised
23 apartments buildings of six- to 12-units each. Plans
show 46 one-bedroom units, 134 two-bedroom units and 60
three-bedroom units. Monthly rents will range from $790
to $1,700 per unit.
Asked
about the weak national economy and questions about
the strength of the apartment market, Developer Jerry
Jacquot said that he believes the market will be stronger
by the time the project is completed.
"I
have some confidence the economy is going to improve
the next 12 months," he said. The veteran Jacksonville
developer explained that market cycles are in play.
"If
you start projects when the market is red hot, oftentimes
when you deliver, the market is not red hot. Conversely,
if you start when the market is a little soft, it firms
up," Jacquot said.
The
12,000-square-foot Shoppes is at 7543 Gate Parkway at
a construction cost of $1.1 million.
The
two-story, 15,000-square-foot Corporate Centre at 7545
Gate Parkway and carried a construction cost of over
$975,000.
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