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Beacon Riverside Luxury Condo Tower on Hold for Now

Beacon Riverside had sold only 25 percent of its units since its announcement in 2013. About 25 percent of the Beacon Riverside units were pre-sold since the announcement in 2013.

With a lack of pre-sales at the Beacon Riverside, a 16-story Riverside/Avondale waterfront high-rise announced in 2013, developers have put a hold on the project. Due to start construction in early 2014, the project’s developer, NAI Hallmark Partners, has not had the robust sales predicted, with only about 25 percent of the units pre-sold. About half of the 45 units needed to be sold for construction to commence on schedule.  

The high end Riverside/Avondale condos ranged in price from $600,000 to more than $2M. Other condo developers in Jacksonville, such as Aphora at Marina San Pablo, have also halted building due to lack of up front sales.  

NAI Hallmark Partners is hoping that with the amazing growth in Riverside/Avondale, the project may be restarted in one to two years. 

Area Referenced: Avondale



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