Large-scale projects that will define communities for generations to come.
Development success in many diversified asset classes
Rimrock has worked diligently to identify and perfect programmatic, duplicable pipelines of development in Retail, Senior Living, Hospitality, Self-Storage and Multi-Family. These are our core asset classes remaining our priority and focus.
However, as developers we are presented with many opportunities, some of which are outside of our core asset classes but allow us to diversify into more opportunistic projects and other asset classes. Most of these projects are in our hometown of Jacksonville and the surrounding areas.
Rimrock entered a partnership with the Jacksonville Jaguars in 2016 to be their developer for the Shipyards; about 30 acres of undeveloped riverfront property across from TIAA Bank Field and Daily’s Place Amphitheatre. Jaguar’s owner, Shad Kahn, is planning to build a Four Seasons Hotel & Residences, Marina, and an office tower for Jaguars executive offices at the Shipyards and Rimrock will develop the remaining property with complimentary retail and multi-family. This development has been a revolving door due to changes and politics but is now being finalized and should start this year.
Rimrock forged a relationship with Jacksonville University, a staple in the Jacksonville community, in 2014. It was founded in 1934, but it was in decline in 2013 when Mr. Cost took the helm as president. Rimrock took a chance on JU and purchased 50 acres next the University. In 2014, we started a build-to-suit 277-unit student housing development for the university. This project was very successful and since this project, Rimrock has developed a three-story, 104,000 sqft Health-Science building and a 18,000 sqft medical teaching facility off-campus.