Submitted by Susan Hardee Steger
A city block located at the corner of North 2nd and Alachua in downtown Fernandina Beach is on the market along with a non-contiguous property west of the railroad tracks. Both parcels were purchased in 2004 – 2005 by the Lane Group an Atlanta based development company. Development plans by the Lane Group did not materialize as real estate was adversely impacted by the economic downturn. The property is now owned by Synovus Bank.
According to Tony Quattrochi, broker manager for the property sale, both parcels are being offered as a single listing for $3,125,000. The listing shows the value of the Tringali property as $750,000, and the larger Standard Marine property at $2,375,000.
The listing touts the Standard Marine property as an “excellent development sites for townhomes and condo units with views of western sunsets over the Amelia River . . .” The Standard Marine property is zoned C-3 and its density could allow for some 68 residential units.
Waterfront-mixed use is the zoning for the Tringali property (180 foot frontage). A marina, condo/retail, or restaurant are possible development opportunities for this property.
The Standard Marine property is not in the historic district. Developers receive extra density points if restoration efforts are made to the building. Both properties are within the CRA.
August 2, 2013 2:57 p.m.