A year after a deal for apartments fell through, and 16 years after potential development first surfaced, it looks as if East San Marco will soon rise — with retail.
This time, says the property owner, East San Marco at Hendricks Avenue and Atlantic Boulevard will be just Publix Super Markets Inc. and other shops and restaurants.
There will be no apartments on top, and it might not even be named East San Marco.
“It’s going to be a terrific shopping center that’ll be very favorably received by the neighborhood and what the neighborhood needs,” said Regency Centers Corp. Chairman and CEO Martin E. “Hap” Stein.
“It will be a very positive addition to a great neighborhood in the San Marco area,” Stein said Thursday after the Regency Centers annual meeting of shareholders.
He said construction should start within the year and be completed a year after that. East San Marco remains the name “for now,” he said.
Stein said Jacksonville-based Regency Centers will develop, own and manage an estimated 50,000 square feet of retail space comprising the 30,000-square-foot Publix and about 20,000 square feet of shops and restaurants.
Publix agreed more than a decade ago to anchor the location, which most recently was planned for a more than $60 million project to include retail space, parking garages and 266 apartment and townhouse units.
However, developer ArchCo Residential LLC terminated its involvement just before the scheduled March 6, 2017, closing to buy the property from Regency Centers…