Carter to Commence Construction on Next Building at Valencia

Since acquiring a portion of Valencia, an upscale condominium community located in Jacksonville Beach, Fla., in August 2010, Carter has helped the distressed property make a full recovery. Given the success, Carter will commence construction on a 42-unit building in January 2013. The building will be located across from the croquet lawn and bocce ball courts.
 
The company initially purchased 115 units and an undeveloped pad site at the property, before purchasing the remaining note from the lender. Carter implemented several key strategies in order to stabilize the property, including hiring a new management company and marketing and sales firm. Today, only two units remain available at Valencia.  At completion, the community is anticipated to have 245 homes in five buildings.
 
To read more about Carter’s reinvention of the property, check out this previous blog post.

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