Real estate experts tell Historic City News reporters in St Augustine that they are predicting RiverTown will see a “boost” as communities along CR-210, like Aberdeen and Durbin Crossing, start to reach capacity.
Sales in the master-planned community off of SR-13 in St Johns County, accounted for more than 30% of home site sales by the developer, St Joe Co., according to its third quarter earnings report.
“If you look at some of our big competitors, Nocatee, Durbin Crossing, they’re sales are up significantly,” Powers said. “Primarily, when someone is relocating for a job, they’re choosing to move to northern St Johns County when they come to Northeast Florida.”
For 75 years, prior to last year, St Joe was headquartered in Jacksonville; and, at one time, they were the largest single land holder in St Johns County. Of the 58 sales during the last three-months reporting period, 18 sales were in RiverTown. At this point, there are 33 completed homes at RiverTown; 25 are occupied by homeowners and eight are speculative or model homes.
Powers directly credits St Johns County’s top-rated school system as one of the drivers that brings homebuyers to the area, especially from Duval County.
Earlier this year, St Joe made a commitment to spend millions on RiverTown. The investment includes completion of a new amenity center, and an aggressive marketing and advertising campaign.
Early last month, construction started on a new roundabout at the intersection at SR-13 and RiverTown Boulevard. The roundabout provides a pedestrian-friendly connection from the community to the more than 50-acre Riverfront Park.
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