A national homebuilder has closed on nearly 10 acres of land in Jacksonville Beach, where it plans to build 59 homes in a subdivision it has named Ocean Terrace.
Richmond American paid $8 million for the land, at 440 South Beach Parkway, at northwest corner of Butler Boulevard and South Beach Parkway, according to a Duval County deed recorded Thursday.
The sale closed Monday.
The homes will have a minimum floor area of 1,600 square feet, plus a one-car garage, according to filings with the City of Jacksonville Beach.
Bob Martin, a spokesman for the Denver-based parent company of Richmond American, said Friday that the homes will range from 2,250 to 3,050 square feet and start in the $400,000s.
The residential and commercial real estate markets in Duval County's coastal communities have been hot for some time, far outpacing the rest of the city. The Ocean Terrace site sits just west of the Equity One Inc. shopping center where specialty grocer Trader Joe’s will make its Northeast Florida debut this fall.