Jacksonville Beach Restaurants Succumb to Multi Family Housing Boom
Below is a MRR and PLR article in category Finance -> subcategory Real Estate.
Jacksonville Beach Restaurants Give Way to Multifamily Housing Surge
Overview
In the latest shift in Jacksonville Beach's landscape, another beloved restaurant has closed to make way for multifamily housing. The Lighthouse Grill, located by the San Pablo River bridge on Beach Blvd, has been sold to Chase Properties, Inc., which plans to develop the 2.4-acre waterfront site into multifamily housing.New Development
The new project, Lighthouse Point, will feature 37 townhouses styled in the West Indies tradition. Prices will range from $650,000 to $1.5 million, with residents having the option to own a boat slip on the property.The city of Jacksonville Beach, which had previously denied a proposal for a taller condominium, approved this project as it complies with the city’s 35-foot height limit, a regulation established by voters in 2004 but rarely enforced until now.
Impact on Local Culture
This development trend involves acquiring large plots and replacing existing structures with multi-story condominiums. Consequently, many iconic Jacksonville Beach restaurants and nightspots have vanished.Recently, the First Street Grille, known for its Florida cuisine and vibrant atmosphere, closed after a lively New Year's event. A circuit judge had ruled in favor of the property developer, Lee Underwood, based on government assurances about the land's usage. This decision mirrors a similar ruling that permitted a 10-story condominium by developer Scott Gay. More property rights cases are pending.
The site where First Street Grille stood will soon host the Acquilus III, a seven-story oceanfront condo. Underwood also owns the neighboring property housing the Dolphin Depot, an upscale eatery renowned for its innovative menu. Although a judge ruled differently for this parcel, speculation suggests the Dolphin Depot may not survive much longer.
Community Response and Future
A proposal to transform Beach Marine into a 550-unit resort was defeated by the city council, prompting the formation of Beaches Watch?"a citizen group advocating for a 35-foot height limit on new buildings. In November, their initiative passed with over 70% support.Despite the vote, construction of taller structures continues in Jacksonville Beach due to court-upheld property rights. As the city transforms into a global destination, locals may need to seek alternative hangout spots, possibly northwards to Atlantic and Neptune Beach, where the relaxed beach vibe remains intact.
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