Harbor Group International Boosts Jacksonville Presence with Ascend at Durbin Creek Acquisition
In a strategic move reflective of the burgeoning growth in Jacksonville, Harbor Group International (HGI) has announced the acquisition of Ascend at Durbin Creek, a premier multifamily development situated in St. Johns, Florida. This acquisition manifests HGI’s adeptness in recognizing and capitalizing on market demand, as evidenced by the impressive lease-up rate of 86.5% and a solid average of 20 new leases per month over the past year for the newly-built 350-unit property.
The positive trajectory of Ascend at Durbin Creek is aptly summarized by Yisroel Berg, Chief Investment Officer – Multifamily at HGI, who expressed confidence in the property’s sustained appeal. “As a new development with convenient access to employment and lifestyle destinations, we are confident in the ability to complete a successful lease-up,” Berg said. His forecast hinges on the area’s rapidly increasing population and the property’s strategic location, which positions it as an attractive home base for the existing and growing workforce in South Jacksonville.
Ascend at Durbin Creek’s allure isn’t just its optimal location near major employment hubs, but also its proximity to retail havens like Pavilion at Durbin Creek, setting the stage for residents to thrive in a live-work-play environment. Noteworthy employers in the vicinity, including Baptist Health South and top financial institutions, underscore the economic vibrancy of the area and the associated demand for upscale residential options.
Developed with the resident experience in mind, the property’s amenities list reads like a catalog of luxury, boasting stainless steel appliances, quartz countertops, and an array of modern finishes that define upscale living. HGI’s intention to further enrich this offering by incorporating additional electric vehicle charging stations and outdoor living enhancements speaks to their commitment to innovation and a forward-thinking residential experience.
As HGI enhances Ascend at Durbin Creek’s allure through thoughtful upgrades, such investment activities signal a keen understanding of the multifamily market’s potential. Communities like Ascend at Durbin Creek offer more than just a place to reside; they are beacons of lifestyle advancement and nodal points of regional growth, reflecting broader trends in the multifamily sector’s remarkable resilience and adaptability in evolving economic landscapes. With this latest venture, HGI not only cements its role as a leader in the multifamily space but also contributes significantly to the vitality of the Jacksonville area.