Anybody know the status or hear any news about the Rivertown development?
This was in the The Times Union on Friday (various construction updates):
QuoteRiverTown
RiverTown is an ambitious project in St. Johns County. It spreads over both sides of Florida 13 and features 4,500 home sites spread out over 4,100 acres.
The St. Joe Co., developers of the project, refused to comment at all about how sales are going.
But a real estate agent involved said that six homes have been sold so far. The project's Web site lists another seven for sale, ranging from $313,900 to $425,000.
http://jacksonville.com/business/2010-02-11/story/works_in_progress_old_jacksonville_library_waiting_to_add_1_big_tenant
6 homes? OUCH! Even Nocatee has gotten up to a population of about 1200 and these project broke ground at about the same time.
The project does not look like the St Joe I know from the panhandle. Over there they work for environmental harmony. They work to maintain the native plants and animals around the house. They lower light levels to permit "dark sky" so you can see stars. They go to great lengths to make the architecture interesting and blend in to the local landscape. Many lots are an acre or more per house.
In Rivertown they built the biggest box on the lot they could to get the inside square feet. They clear cut the project in way more acreage than they could build on and failed to do any errosion control. They silted the river. They failed to replant trees in the neighborhood around the houses. They planted lots of grass and tried to make it like every other over built development.
I have no doubt sales will be slow.
QuoteOver there they work for environmental harmony. They work to maintain the native plants and animals around the house.
I don't consider destroying thousands of acres of pristine habitat so that rich people could retire on the beach working for environmental harmony.
But I digress, in relation to Rivertown, they have been fined three times by the SJRWMD for improper runoff- so they got that going for them.
Not surpised, and IMO, I hope it fails completely. Years ago when they just got done blowing up the forest, we had a windy day while I was on 13 and that stretch of road was completely shrowded in a dust cloud.
Now, it is just covered in weeds and looks so sad. I've said it before, they should be forced to replant all the trees they destroyed and some. I would jsut love to go to the St. Johns County commission that approved this and slap every single one of them for this travesty along a SCENIC ROUTE.
I've been in WGV on the St. Johns for a half a year, and have not noticed a single new start in the Rivertown subdivision along 13.
If the project fail's I don't think it's due to economy or karma, I think there is a fatal flaw in what I've seen so far.
The home designs are classic Florida and/or steamboat style. The area is very rural, with most shopping limited to either Green Cove Springs, Julington Creek or highway 210, making it a bit out of the way. But the unforgivable sin in rural country is to try and build one of those extreme high density neighborhoods akin to old Springfield. Few people want to move to the country so their neighbors house can be 5 feet from their bathroom window.
If St. Joe would wise up and figure a way to spread that land around among homeowners I think they'd do better.
OCKLAWAHA
Quote from: reednavy on February 17, 2010, 10:57:47 AM............Now, it is just covered in weeds and looks so sad. I've said it before, they should be forced to replant all the trees they destroyed and some. I would jsut love to go to the St. Johns County commission that approved this and slap every single one of them for this travesty along a SCENIC ROUTE.
Mostly pines and a tree farm it does not fall under the tree protection ordinances. They do have to plant, grass and/or cover crop to control errosion on disturbed lands.
They could have just cut the trees, ie harvested, left the cut offs, or pushed up the stumps into wind rows. Then planted a cover. Not necessarily trees. However the trees will spread if left alone.
If it is any consolation the St Joe folks that did it have all been laid off.
It's going to be hard to fix this project - I believe that most of the lots were sold to builders who are now out of business...
Quote from: reednavy on February 17, 2010, 10:57:47 AM
Not surpised, and IMO, I hope it fails completely. Years ago when they just got done blowing up the forest, we had a windy day while I was on 13 and that stretch of road was completely shrowded in a dust cloud.
Now, it is just covered in weeds and looks so sad. I've said it before, they should be forced to replant all the trees they destroyed and some. I would jsut love to go to the St. Johns County commission that approved this and slap every single one of them for this travesty along a SCENIC ROUTE.
Why would you hope it fails?
That's not Christ like.
The dust is long gone, let it go. Instead of wishing failure, you should hope it was done to benefit people, and the local government.
It would be a shame to take down nature, and not benefit from it.
Sorta like nature, it's OK to kill fish, birds, and animals for food.
It's not OK to kill for sport.
I agree that you should plant a tree, and 2 if possible every time you take one.
That's my rant, and I'm sticking to it.
Christ like, who the f*ck am I, Tim Tebow?
I hope it does fails because it is the single worst use of land I've seen since I've been down here. I love taking my bike out and cycling that route, and the prospect of thousands of crap looking homes there doesn't sit well with me. The St. Joe Company, IMO, should be raked over hot coals for this sad excuse for "Old Towne Florida". They ruined pristine waterfront property on the river side of S.R. 13 by cutting apart the brush and scrub under the canopy of trees, plowed hundreds of acres of forest and turned into a big grass field, and have apparently caused drainage issues already.
Quote from: reednavy on February 17, 2010, 08:44:01 PM
Christ like, who the f*ck am I, Tim Tebow?
I hope it does fails because it is the single worst use of land I've seen since I've been down here. I love taking my bike out and cycling that route, and the prospect of thousands of crap looking homes there doesn't sit well with me. The St. Joe Company, IMO, should be raked over hot coals for this sad excuse for "Old Towne Florida". They ruined pristine waterfront property on the river side of S.R. 13 by cutting apart the brush and scrub under the canopy of trees, plowed hundreds of acres of forest and turned into a big grass field, and have apparently caused drainage issues already.
You are no Tim Tebow.
Why don't you ride your bike to the site, and plant trees.
Wasn't this thing the reason the Outer Beltway's river crossing will replace the Shands instead of being an additional bridge between Green Cove Springs and the Buckman?
Like Nocatee/Dee Dot Ranch, Rivertown would have made a fantastic state or local park. It seems developers save their worst projects for NE Florida. I guess our standards are so low, they can just dump anything on us and we will take it.
I haven't been through the area since Rivertown was started, but based on the descriptions, I know, as a life long native familiar with the original landscape, I will be sure to be sickened. As with Palm Valley, St. Johns County is sacrificing another big chunk of its character and charm for a quick buck. When the Outer Beltway gets built, much of St. Johns will be indistinguishable from Blanding, Beach, Atlantic, Roosevelt, or San Jose. I hope traffic jammed (can you say CR 210 and I-95?) "Anywhere USA" makes 'em happy.
Quote from: British Shoe Company on February 17, 2010, 09:00:15 PM
You are no Tim Tebow.
Why don't you ride your bike to the site, and plant trees.
Because the St. Joe Company can suck it for all I care on this "development".
Quote from: thelakelander on February 17, 2010, 09:08:13 PM
Wasn't this thing the reason the Outer Beltway's river crossing will replace the Shands instead of being an additional bridge between Green Cove Springs and the Buckman?
Probably the other way around, it was built because of the prospects of it happening.
STJR, even though we've had our disagreements, this is one thing that pisses me off. I highly doubt that it'll be built as on grand of a scale they had originally intended to.
Quote from: reednavy on February 17, 2010, 09:27:05 PM
I highly doubt that it'll be built as on grand of a scale they had originally intended to.
Unfortunately Reed, we can't count it out. The history with these large developments around Jax is that new owners/operators take over the these developments at bargain prices, sit on them for 15 or 20 years, and bring 'em back to life when the market is more mature and the economy is stronger. Want examples? Queens Harbor, Julington Creek Plantation, Amelia Island Plantation, Sawgrass .... all brought back from bankruptcies/failures over 20 years ago.
Quote from: reednavy on February 17, 2010, 09:27:05 PM
Quote from: thelakelander on February 17, 2010, 09:08:13 PM
Wasn't this thing the reason the Outer Beltway's river crossing will replace the Shands instead of being an additional bridge between Green Cove Springs and the Buckman?
Probably the other way around, it was built because of the prospects of it happening.
The Rivertown developer did not want the outter beltway to come too close or it would have gone right to them from 220 at Flemming island is my understanding. So the beltway was pushed south to the shands bridge.
St. Joe is losing bucket loads of money at the moment. And, Rivertown had zero sales in 2009 and only 30 to date out of 4,500 homes.QuoteSt. Joe Co. reports 2009 loss as it awaits opportunities around Panama City airport
* By Mark Basch
* Story updated at 12:40 PM on Tuesday, Feb. 23, 2010
The St. Joe Co. (NYSE: JOE) reported today a net loss for the second year in a row, as the real estate company looks ahead to development opportunities surrounding a new airport in Panama City.
Jacksonville-based St. Joe owns 71,000 acres of land immediately adjacent to the Northwest Florida Beaches International Airport, which is scheduled to open in May. And it owns more than 300,000 acres within 40 miles of the airport, so the company is hoping the new airport will bring growth to the area and development opportunities for St. Joe’s land holdings.
In the meantime, the housing market collapse has significantly slowed St. Joe’s operations. The company reported a net loss of $130 million, or $1.42 a share, for all of 2009, following a loss of $35.9 million, or 40 cents a share, in 2008. The losses included significant write-offs related to the decline in value of some of its properties.
St. Joe owns a total of 577,000 acres of land, mainly in the Florida Panhandle. But its holdings include the 4,170-acre RiverTown project in northern St. Johns County, where sales activity has ground to a halt. St. Joe reported no sales at RiverTown in 2009, and to date it has sold only 30 of a planned 4,500 homes in the development.
St. Joe said in its annual report filed today that it does not expect “significant favorable changes†in the housing market in 2010.
Company officials are much more optimistic about the opening of the Panama City airport. St. Joe last fall negotiated an agreement with Southwest Airlines Co. that will bring eight daily non-stop flights into the airport.
“We believe this is a game changer for our company and our shareholders,†St. Joe CEO Britt Greene said in a conference call with analysts.
St. Joe expects the Southwest flights to bring numerous business and leisure travelers to the Panhandle area. The agreement was so important to St. Joe that it has agreed to reimburse Southwest for losses incurred during the first three years of its service.
During the conference call, Greene said Southwest hasn’t begun advertising the Panama City service but pre-sale activity is strong.
“They have indicated to us that it has exceeded their expectations under normal conditions for a new service,†Greene said.
http://jacksonville.com/business/2010-02-23/story/st_joe_co_reports_2009_loss_as_it_awaits_opportunities_around_panama_city_
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