Joint Venture of PCCP, LLC and The Bainbridge Companies acquires 32.6 acres for development of a 372-unit class a multifamily community in Jacksonville, Florida

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Bainbridge Avenues Walk
PCCP, LLC and Bainbridge Companies acquired a 32.6-acre site for Bainbridge Avenues Walk, a 372-unit Class A multifamily community in Jacksonville, Florida.

A joint venture of PCCP, LLC and The Bainbridge Companies announced it has acquired a 32.6-acre site for the construction of Bainbridge Avenues Walk, a 372-unit Class A multifamily community located at 10502 Avenues Walk Boulevard within the Southside submarket of Jacksonville, Florida.

“We are pleased to embark on this quality development with Bainbridge, an experienced, full-service real estate company,” said Kevin Chin, Managing Director with PCCP. “This is our joint venture’s second multifamily project executed in Jacksonville, the first being Bainbridge Town Center East which completed in March 2020 and has been experiencing strong leasing activity.”

Danny Hirschberg, Associate with PCCP added, “Overall, we like the fundamentals of the Jacksonville market and have seen firsthand the high renter demand for Class A apartments here.”

Bainbridge Avenues Walk will be comprised of 372 apartments across six, four-story, elevator-served buildings with 600 surface parking spaces. The unit mix consists of 121 one-bedrooms, 203 two-bedrooms, and 48 three-bedrooms. The floor plans will include high-end, condo quality finishes including quartz countertops in the kitchen and bath, wood-style seven inch plank flooring throughout with carpet only in the bedrooms, Shaker cabinets and ceramic-tile backsplashes in the kitchen, side-by-side refrigerators with water/ice dispenser, stainless steel, Energy Star rated-appliances, stackable or side-by-side washer/dryers, kitchen islands, two inch wood-like blinds, extra deep kitchen sinks, oversized walk-in closets with built-in storage systems, smart thermostats and electronic keyless entry, electric outlets with USB ports and 9-foot ceilings.

The project will also feature a resort-style clubhouse with an indoor resident lounge with fireplaces, a 2,000-square-foot (sf), state-of-the-art fitness center with double height ceilings, “home offices” for tenant use, a Wi-Fi-enabled cybercafé and a game room. Outdoor amenities will include an outdoor resident lounge/pavilion with flat screens, summer kitchens, a fire pit, a barbeque area overlooking the lake, a resort-style zero entry and infinity edge saltwater pool with sun shelf and cabanas that overlook the lake, a dog park and pet spa, electric vehicle charging stations, and LED lights throughout the community. The community’s residential buildings and standalone clubhouse will be oriented around an expansive 7.5-acre lake on the site, which contains a half-mile walking trail around it with outdoor fitness stations.

Bainbridge Avenues Walk site is located off Route 1/Phillips Highway, a major north-south artery that connects the property north to the I-95 entrance or south to the I-295 entrance. The site has excellent highway connectivity to provide residents direct access to many local and regional economic drivers such as the Southside Office Hub which includes approximately 44,000 jobs and employers including BAML, Florida Blue, JP Morgan, McKesson and many others; downtown Jacksonville which is a 25-minute drive; the Deerwood Office Park, the largest office park in Jacksonville more than 20,000 jobs; Baptist Hospital South, a 245-bed hospital with 1,250 employees. The project is also located adjacent to the 1.1 million-sf Avenues Mall and surrounding retail and is just over six miles south of St. Johns Town Center, Jacksonville’s premier destination for luxury retailers. In addition, within five miles of the site are ten grocers including a Whole Foods, Trader Joes, four Publix and the project is walkable to the adjacent Walmart Superstore.