- Funding Needed
- $25.7 (Mio)
- EB5 Funding
- $8 (Mio)
- EB-5 Investors
- 16
- Investment Amount
- $500,000
- Job Creation per Investor
- 11.6
- Job Creation (Total)
- 185
- Category
- Construction
- Sub-Category
- Land Subdivision
- State
- Florida
- Location
- Jacksonville, Duval County, Florida
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Cecil Commerce Center
- Developer Name
- Hillwood Development, LLC
Project Description
AllianceFlorida will be the second expansion of the Alliance brand. Hillwood is developing Parcel A into a modern 510,000 square foot distribution facility located on 40.69 acres. The site is situated between Normandy Blvd., a State highway, and 103rd Street; both are modern four-lane divided highways. The location is considered to be superb, with immediate access to Cecil Field, the former Naval Air Station, as well as the high-speed interchange for Interstate Highway 10.
The location offers industrial users many cost-saving benefits, including comparatively low property-tax rates, no income tax, and Foreign Trade Zone status. As Master Developer Hillwood will purchase the land, perform site work, including on and off site improvements, construct the facilities, and manage the property.
As a component of the DDA, Hillwood is required to substantially complete an aggregation of at least 400,000 square foot of new building area by the end of 2014 which demonstrates certainty that the target project of the Group 26 infrastructure investment will be completed.Hillwood enjoys a strong working relationship with the City of Jacksonville. Hillwood will provide full development services and has engaged CBRE Jacksonville to provide on-site marketing and leasing. Hillwood has years of experience developing major logistics centers across the United States which includes Hillwood’s AllianceTexas (Fort Worth, Texas) and AllianceCalifornia (San Bernardino, California). Furthermore, CMB and Hillwood have a strong track record of success developing EB-5 investment opportunities in each of these regions. Together, Hillwood and CMB will look to carry our prior success into this strategic logistics development taking place at Cecil Commerce Center through this CMB Group 26 investment Partnership.
Project Timeline
Cecil Commerce Center Parcel A
• Early development and construction activities will commenced as of 1st Quarter 2014.
• Completion of Construction Activities is scheduled for 3rd Quarter 2014.
• Stabilization and Leasing is scheduled to be completed by 1st Quarter 2016.
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