In 2018, Columbia Ventures bought Jacksonville's Union Terminal Warehouse for $4.6 million; 7 years later, a $73 million overhaul transformed it into a mixed-use complex

A historic warehouse in Jacksonville, Florida, was transformed into a modern residential and commercial complex. The Union Terminal Warehouse is located at 700 E. Union St. It was built in 1913 near Jacksonville’s Eastside and EverBank Stadium.

Atlanta-based developer Columbia Ventures bought the property in December 2018 for $4.6 million in 2018. It invested $73 million for the redevelopment. The historic warehouse was reopened on March 6, 2025, as a mixed-use property. It had 228 apartments and space for offices, food businesses and makers.

What exactly happened?

The Union Terminal Warehouse is a historical building and it was constructed in 1913. Originally, the building was used as a dry-goods distribution centre. It also played a key role in Jacksonville's commercial and grocery distribution history.


The warehouse was built after the Great Fire of 1901. The fire at that time had destroyed much of Jacksonville. The property is spread around seven acres, according to local media reports.

Why did Columbia Ventures acquire the property?

Atlanta-based Columbia Ventures acquired the warehouse on December 3, 2018. The purchase was made through its entity, East Union Property Owner LLC. According to the Jax Daily Record, the purchase price was $4.6 million.

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The aim was to pursue an adaptive-reuse project, retain the historic building and change how the space would be used.

The redevelopment of the warehouse took more than six years. The total cost of this was reportedly $73 million. This helped in converting the warehouse into a mixed-use development residential and commercial space.

After the redevelopment, the building had 228 apartments, commercial space, small offices, rooftop terrace, and many other amenities.

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The rents here were reportedly $1,314 for studio apartments and around $3,000 to $3,140 for larger units.

The project reportedly got public financing and was benefitted from historic-preservation incentives. After it opened, the first tenants arrived around March 2025. The redevelopment of the historic building was celebrated by a ribbon-cutting ceremony on March 6, 2025. Many city officials described the project as a perfect example of historic preservation, and good investment.