JACKSONVILLE, Fla. – The Regency Square Mall was once a “gem of all shopping centers” in Jacksonville but became “the bane of community complaints,” and its sale was “well overdue,” says City Councilman Ken Amaro.
Amaro, who represents the Arlington area where the mall is located, shared a statement after the sale of the property was first reported Wednesday by the Jacksonville Daily Record.
Amaro said the sale “marks an exciting milestone for our community’s growth and transformation.”
Amaro congratulated the new owners, Blackwater Development LLC, pointing out that the sale was overdue after the troubled mall faced nearly $1.8 million in fines for multiple code violations because of its deteriorating conditions.
Vogue Turner, who’s lived in the area for more than five years is excited that the site will be something that could help out the community, instead of an eyesore.
“Honestly, I didn’t know that they sold it, but I’m glad they doing something with the area, because it’s just sitting there,” Turner said.
Amaro called the purchase of the property an investment in the future of not only Arlington, but Jacksonville as a whole.
“My hope is that the new owners’ vision is to create opportunities for new businesses, housing, and shared spaces that reflect the needs and aspirations of everyone in the area,” Amaro said.
READ: Click here to read Councilman Amaro’s full statement
The Record reported that Blackwater’s redevelopment plan includes multifamily residential communities, financial institutions and nationally recognized retail brands.
Under the new ownership, the property will be called The Nexus at Regency, the Record reported.
“The word nexus signifies a meaningful connection or link, and that spirit of connection is at the core of this project,” Blackwater Development founder Rurmell McGee said in an announcement.
McGee further emphasized the importance of maintaining the Arlington community’s connection and “personal ties” to the faltering property.
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Blackwater called the change the “beginning of a transformative mixed-use redevelopment effort aimed at breathing new life not only to the Regency property, but also into the entire Arlington community.”
“If they doing affordable housing and stuff, that’s perfect, especially in this neighborhood, because they need it,” Turner said.
The price tag for the purchase remained undisclosed. The new owners also said they would work with the remaining tenants to discuss other options.
The Record reported that Regency Realty LLC, a partnership of Mason Asset Management and Namdar Realty Group LLC, owns almost 74 acres and about 980,200 square feet of retail space in the mall.
Blackwater announced in October 2023 that it was in talks to buy part of the mall.
The purchase does not include the Dillard’s Clearance Center in the west wing; the closed Sears at the end of that wing; or the central area that Impact Church now occupies that was once the Belk department store.
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