Vestcor Companies wants to begin interior renovations in San Marco at its new headquarters at 1649 Atlantic Blvd. which he intends to occupy at the beginning of next year.
Ryan Hoover, president of TVC Development Inc., part of The Vestcor Companies, said Aug. 8 he estimated the project would cost $1.2 million.
“San Marco was a logical location for us for its proximity to downtown and easy access to 95,” he said, referring to the Interstate 95 access.
“The building was the perfect size and had the necessary parking which is not easy to find.
Hoover said Jacksonville-based Vestcor started in a single-family home in San Marco in 1983, less than a quarter mile from the new location.
Urban Partners Construction LLC is the contractor for the $750,000 job to remodel the two-story, 6,553-square-foot building, which Vestcor purchased in December 2021.
The city is considering the permit application. Group 4 Design Inc. is the architect.
The owner is VC 1649 Atlantic LLC, affiliated with TVC Development Inc., now based in Mandarin leased space.
Hoover said at the time of the purchase that Vestcor was looking for new space in or near downtown, “and that location suited us perfectly.”
Rubin Companies of Jacksonville sold the two-story properties at 1639 and 1649 Atlantic Blvd. for a combined $5.65 million to Vestcor.
Vestcor leases space at 3030 Hartley Road, Suite 310, Concorde Office Park.
Hoover estimates that Vestcor will move its offices to 1649 Atlantic Blvd. early 2023.
Vestcor will move its 22 employees from the Hartley Road and San Jose Boulevard offices it has occupied since the late 1980s.
Rubin Companies was previously headquartered at 1649 Atlantic Blvd.
Hoover said that 1639 Atlantic Blvd. has a long term lease. Advanced dermatology and cosmetic surgery occupy the building.
Rubin this building, which was built in 1960, for $3.4 million. Rubin purchased the property for $600,000 from Family Foundations of Northeast Florida in May 2017.
Rubin sold 1649 Atlantic Blvd., built in 1957, for $2.25 million. She purchased the property for $975,000 from Parkview Properties Inc. in December 2006. The two buildings share a 40-space parking lot.
1649 Atlantic Blvd. The building has a 3,305 square foot ground floor and a 3,248 square foot second floor.
Hoover said the exterior had recently been upgraded, so Vestcor hasn’t made any plans for it yet.
The properties are accessible from I-95 off Atlantic Boulevard.
The buildings are also about two blocks from the East San Marco mall where Publix plans to open Aug. 11, across Hendricks Avenue from the historic shopping district of San Marco Square.
Hoover said the property’s proximity to the I-95 freeway and its walking distance to San Marco Square “are a huge plus.”
John Rood founded The Vestcor Companies in 1983. He became one of Florida’s largest developers of multi-family communities.
In recent years, Vestcor has developed workforce apartment projects in The Lofts Downtown and other areas, including one planned at Philips Highway and St. Augustine Road, not far from San Marco.
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