Portfolio
Active Projects
Sold Ground-Up
Sold Value-Add
Trevato’s sister company, Block One Ventures, also based in Jacksonville, Florida, utilizes an investment approach of filling near-term multi-housing demand gaps with development assets located in the path of growth, at attractive all-in bases relative to stabilized cash flows, and with meaningful downside protection.
Please see Block One’s website at blockoneventures.com.
ACTIVE PROJECTS
The Station at San Marco
- 345 upscale multi-family urban units and 5,000 sf of retail located in the Historic San Marco neighborhood of Jacksonville
- Proximate to medical users Baptist Medical Center, Wolfson’s Children’s Hospital, Nemours Children’s Specialty Care and Baptist MD Anderson Cancer Center, and a five-minute drive to well-paying jobs in downtown Jacksonville
- 10-minute walk to San Marco Square, an authentic and quaint hub of eateries and bistros, bars, and boutiques
- Leasing remains on track to begin Summer ‘23
- Construction completion scheduled for Q1 2024 at a total development cost of $89 million
Bartram Commons Phase I
- 384 upper scale multi-family units in a four-story product with elevators, as the first of three phases totaling 1,069 units
- Along Race Track Road, the primary east/west road separating Duval and St John’s counties in Northeast Florida; under construction for widening to four lanes with a projected completion mid-2024
- Only submarket property with 5-minute access to State Road 9B and Interstate 95 via the completion of East Peyton Parkway, with an anticipated completion in early 2024
- Immediately proximate to Durbin Park’s 700,000 sf Phase I of retail development, with an eventual total of 2,000,000 sf
- Construction anticipated to begin Q4 2023 at a total development cost in the $100 million range
Bartram Commons Phases II and III
- 306 and 379-unit multi-family phases of future development
- Phases designed for distinct rent profiles from one another and from Phase I
- $6.5 million master sitework underway, including Phase I, to create multi-pads superpads, with projected completion Q4 2023
- Anticipated groundbreakings in 2025 and 2026
PRIOR PROJECTS
Multi-family Ground-up Development
- 760 multi-family units in three separate projects developed and completed between 2016 and 2020
- Each land tract chosen with first mover advantage, and favorable supply/demand characteristics in its respective submarket
- Projects economically designed specifically for submarket location and renter demographic
- All developed, branded, leased, and sold by Q2 2021 with exceptional returns
Multi-family Value-add Redevelopment
- Original Block One strategy that included 756 multi-family units in three projects purchased in 2014 and 2015
- Purchases were price driven through 1) a broken sale process, 2) directly from a lender post foreclosure and 3) off-market from a direct relationship with tax savings motivations
- All purchased, renovated, re-branded and re-leased, and sold by Q4 2018
