December 21, 2022 BTI Partners plans for up to 6,000 homes at Governors Park
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A South Florida firm known for building master-planned communities in Central and Southwest Florida that bought 3,300 acres in Clay County has plans for 6,000 homes at the site.
BTI Partners acquired the Governors Park site for $85 million from The Davis family and The PARC Group, with the sale closing Dec. 16. Cushman & Wakefield acted as the broker.
A press release said this is BTI Partners' first major land purchase in Northeast Florida. The firm was involved the 1,584-unit Sarasota National development, the 1,140-unit Connerton West development in Tampa, the 1,779-unit Reunion Resort development in Orlando and the 641-unit Palencia Jacksonville development.
In a press release, BTI Partners announced plans to build 4,000 single-family homes, 2,000 multi-family units and add 840,000 square feet for commercial or retail space. Plans for the 3,300 acres also include 700,000 square feet of office space, 400 hotel rooms, 2 million square feet of light industrial and an 18-hole golf course.
BTI Partners CEO Noah Breakstone said the site was primed for mixed-use development in a high-growth market.
“Our next step is to put the infrastructure in place and partner with home builders who will be looking to grow their housing inventory south of Jacksonville in the next two to four years,” Breakstone said.
In 2019, the land was purchased by entities controlled by the Davis family. The land was planned for development following the connection of the First Coast Expressway to Interstate 95. As development activity rose, the family decided to sell the land to a developer with more immediate plans, a release said.