A decade has passed since Avenues Walk was first proposed. Now, with 122,435 residents living within a 5-mile radius of the site, with an average household income of $79,162, a new plan for this long-delayed infill development has emerged.
When originally conceived, Avenues Walk was envisioned to become a 160-acre mixed-use urban village near Avenues Mall, Philips Highway, I-95, and I-295.
The development was to feature tree-lined streets, bustling sidewalks, 600,000-square feet of stylish shops, 1,050 multifamily units, trendy dining, entertainment, and 400 hotel rooms for visitors.
Due to the recession, after nine years, the majority of the property remains undeveloped with Wal-Mart, HH Gregg, Dollar Tree, Plato's Closet, and Mikado being the only tenants to materialize.
Recently, Long Island, NY-based KIMCO Realty has hired Franklin Street to market a new plan for the development of the property's future. Proposed uses could include 290,000 square feet of retail, 350 multifamily residential units, two hotels, five destination-style restaurants, and a 500,000 square feet office park featuring multi-story story buildings and a 175-space parking deck.
Reflecting ongoing discussion about bringing passenger rail back to the FEC, the latest plans also show land for a 2-acre transit station outparcel adjacent to the FEC railroad tracks. Viewed as a potential alternative to St. Johns Town Center for Northern St. Johns County residents, the second phase of Avenues Walk won't break ground until one or two major tenants commit to the site.
Article by Ennis Davis, AICP. Contact Ennis at email@example.com
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