RISE: A Real Estate Company opened its relocated headquarters on July 21 in Deerwood Park. Previously based in Valdosta, Georgia, RISE specializes in the development, construction, and management of apartments.
RISE bought the nearly 60,000-square-foot Deerwood Park building at 10161 Centurion Parkway N. in December 2021 for about $7 million and has budgeted $3 million for interior and exterior renovation of the three-story building.
RISE is leasing space to Kindred at Home, Ameriprise Financial Services – Huntley & Gonzalez, Equis Financial, Digital Edge Marketing, and Gannett Fleming.
The RISE finance division will remain in Valdosta. CFO Greg Hunter and the company will retain a group of about 30 people in those offices.
“The Deerwood Park location near Gate Parkway and St. Johns Town Center provides central access and quality of life for the RISE team,” CEO Ryan Holmes said.
He said Jacksonville’s road system provides access for employees. He also finds the tree-lined entrance and the lake and space behind the building to be attractive features for employees and customers. Ample parking was another plus. Twenty employees have moved from Valdosta to Jacksonville. When renovations are complete, Holmes expects about 100 employees at headquarters.
At the grand opening, two charities spoke about their programs. Grounds of Grace is a faith-based charity that operates a coffee truck and employs young people in need. Task Force Hydro1 uses water activities like surfing to engage active-duty military, veterans, and first responders dealing with PTSD symptoms, depression anxiety, and suicide.
The 27-year-old RISE has more than $3.7 billion of projects in development value with more than 3,356 units under management. Holmes said the company plans to invest $900 million in the Jacksonville area. RISE made the move to Jacksonville because Northeast Florida has become a region of interest.
The company is rebranding its new properties by including the RISE name in each building’s name. “We are rebranding our properties as RISE so you will know what to expect. People will walk onto our properties and they will know what they are dealing with and they can hold us accountable for that,” Holmes said.
Currently the company is constructing RISE Julington, a $47 million, 260-unit project at 12397 San Jose Blvd. It will offer one-, two- and three-bedroom apartments. While near the busy San Jose business district, the property is planned with natural barriers. Amenities will include a pool, bicycle storage and repair facilities, collaborative workspaces and several outdoor activities.
RISE Sports Town, formerly The Doro, at 102 A. Philip Randolph Blvd., is a mixed-used and conventional multifamily building in the Sports Complex. It is next to 121 Financial Ballpark and VyStar Veterans Memorial Arena and not far from TIAA Bank Field. Holmes said the $67 million, 247-unit project will be completed in the summer of 2023. In addition to ground-floor retail space it will provide rooftop views, a pool, and green space.
RISE Bartram Park, formerly Linden House, is in development at 5255 Race Track Road in Bartram Park. The $61 million, 295-unit apartment project will comprise three four-story buildings of one-, two- and three-bedroom units with two pools, a fitness center, clubrooms and kitchen and other amenities. It is within walking distance of the Durbin Park shopping center and a 25-minute drive to Downtown. It is expected to open in 2023.
Another project in the works is at 7149 Collins Road in Southwest Jacksonville near Interstate 295. Civil engineering plans call for a 288-unit apartment and 100-unit town house development on 27.8 acres. The apartments will include studios, one-, two- and three-bedroom units. The town houses will have two- and three-bedroom floor plans. England-Thims & Miller is listed as the civil engineering firm. No start or completion dates have been set.
RISE has multifamily housing projects underway in Birmingham, Alabama, as well as Melbourne, Tampa, Davenport and Gainesville in Florida. Nine more projects are expected to be launched in the Jacksonville area over the next few years, Holmes said. Plans call for two active-adult properties for residents over 55 as well as traditional multifamily apartments.
RISE wants to construct multifamily residences in the Hodges, Baymeadows, Bartram Park, Southside, Mandarin, Nocatee, St. Augustine and Yulee areas.
Holmes said demand for apartments will continue. “With interest rates going up and the cost of a starter home now coming in at $400,000, we want to give people the opportunity to live in the locations that they would like to live in. That is why we are spread out all over Jacksonville,” Holmes said.