by Christine Durkin

​Commercial Development

SJM: Looking at the exponential growth in the area’s residential communities these past couple of years, can we expect similar expansion in retail and commercial?

MELISSA: Whenever a residential market experiences this level of growth, the commercial side of things will inevitably follow. What’s been happening is typical in that commerce gauges critical mass, counting “rooftops” if you will, to determine and anticipate demand. What we see now is the commercial side really coming online, as well as the infrastructure to support it.

SJM: Can you tell us about some of the highlights of incoming commercial development?

MELISSA: Durbin Park, on Racetrack Road and St. Johns Parkway, is the largest commercial development underway at this time. Walmart opened there late last fall, and Home Depot is expected to open in March. There are another twenty retail stores slated to open later this year, including a Cinemark movie theater. 
There will also be a commercial component in tandem with the continued residential expansion at Beachwalk. More than 1 million square feet is being designated for retail and even some industrial development. (This area is also close to announcing a new grocery store, but has not yet formally announced any retailers or commercial tenants in the development as of the time of this writing.)
Earth Fare grocery store will anchor the coming development on the NW corner of CR 210, and St. Johns Parkway, across from Publix.  Sleiman Brothers is building the Shoppes of St. Johns Parkway. They expect construction to be underway this spring, and anticipate opening by end of 2019. 
Another development, The Forum at Greenbrier, on CR210 has recently cleared property on the south side of CR 210, East of St. Johns Parkway, on the opposite corner of The Shoppes of St. Johns Parkway. 

Infrastructure

SJM: Can you talk about some of these infrastructure initiatives, such as roadways underway to support the ongoing expansion? 

MELISSA: We’ve seen roadways being modified and expanded to support not only our internal transportation needs, but to ensure more fluidity in entering and exiting the area via I-95 and other major thoroughfares. 
A case in point is the area where 9B joins St. Johns Parkway, heading south. The roadway currently dead ends at CR 210, but will ultimately connect with SR 16.That next segment is already underway and is expected to open this year.

​Schools

SJM: What about schools?

MELISSA: St. Johns County is proud to offer the best schools in the state, and more schools are on the way. According to the St. Johns County School District, “with the approval of the ½ cent sales tax in 2015 dedicated to our school district, three schools were proposed to be constructed with those funds. They have since opened all three, including two in northern St. Johns County.”
 
The St. Johns County School Board opened two new K-8 schools in northern St. Johns County for the 2018-2019 school year. Palm Valley Academy is located in Nocatee at 2135 Palm Valley Road, Ponte Vedra, Florida 32081 and Freedom Crossing Academy is in Aberdeen located at 1365 Shetland Drive, Saint Johns, Florida 32259. The new schools will relieve overcrowding for kindergarten through eighth grades in northern St. Johns 
County. For more information, visit http://www.stjohns.k12.fl.us/newschools/info//


Health Care

SJM: The availability of quality healthcare is also a concern in areas of such rapid residential growth. What is underway or planned to help ensure area families have easy access to healthcare?

MELISSA: According to the Jacksonville Business Journal, Flagler Hospital recently purchased 4 acres for their Flagler Health Village at Nocatee. This facility will include a 30,000 square foot building encompassing family practice, pediatrics, specialty care, women’s health care and other community services. Construction is slated to begin this spring, with an opening date planned for summer 2020.Flagler has a similar development under construction in Murabella due to open in 2019.
Also in late 2018, Baptist Health purchased 12 acres in Nocatee for a healthcare campus and groundbreaking is planned for early 2019. According to the Florida Times-Union, as part of the new development, Baptist plans relocate its primary care office in Nocatee Town Center to the new location about two miles away. They also plan to offer extended hours and expanded team of caregivers at this location. 

by Nikki Lyn Holm, The Coastal Home Group (Keller Williams Jacksonville)

Speaking of good investments, as an agent who loves, lives in, and assists many people in buying and selling their homes in St. Johns County, I would agree: This market is hot!  The number one driver for people moving here is the well known and respected school system of St. Johns. Check this site out for more information:  https://www.stjohns.k12.fl.us/
In our county last year, we had 6,709 total closed sales in 2018, and over 30% were a result of the new home construction boom. Almost 20% of these sales were condos and townhomes. The new home construction  market is receiving 98.4% of their original list price. Clearly a sign of strength, demand, and market confidence.
Four "Fun Facts” for future buyers and sellers:

1. Homes sold for 95.1% of their list price on resales last year, and are currently receiving 95.6%.
2. In NE St. Johns County the median sales price in St. Johns County is  $426,618. Last year it was 345,000. Wow!
3. The average days on market is up a little, at about 88 days.
4. Over 10% of the properties have received over the listed price.

Although buyer enthusiasm has slowed down a bit through the winter months, our biggest challenge as a housing market, is to clarify the misperception that buying now is potentially the "height of the market.” The spikes and drops from the Federal Reserve have left many consumers more cautious and concerned. However, in reality, if lenders continue to act on the conservative and responsible side, we should see more homes becoming available. Ultimately, there should be a leveling out in our marketplace, which would result in a more balanced market shift. If the economy continued to thrive, and rates can hold firm, we will see consumer confidence and activity improve for 2019.


*Statistics derived from NEFAR