Ashley Homes purchases 50 waterfront acres in St. Augustine for $12 million

Jacksonville-based homebuilder Ashley Homes has expanded its footprint in Northeast Florida with the acquisition of approximately 50 waterfront acres in south St. Augustine [1.1]. The transaction, finalized for $12 million, encompasses about 98 residential lots situated along the Matanzas River.

According to St. Johns County property records, the purchase was executed through Shores Unit 7 LLC. The seller in the transaction was St. Augustine-based Unit 7 Investment.

The newly acquired parcels form the easternmost waterfront phase of the St. Augustine Shores Planned Unit Development. Originally established in 1974, the master-planned community spans roughly 2,800 acres and operates under specific guidelines governing residential uses, green spaces, and community features.

The acquisition includes not only the residential lots, but also land designated for infrastructure rights-of-way, retention areas, and environmental buffers. Existing deed restrictions and local covenants limit future construction within the phase to detached, single-family dwellings that do not exceed two stories.

While official development timelines and specific building plans have yet to be finalized by Ashley Homes, any forthcoming proposals will require comprehensive county reviews and appropriate local permits. Future work may also necessitate environmental resource clearance from the St. Johns River Water Management District.

The St. Augustine investment adds to Ashley Homes' active regional portfolio. The homebuilder has maintained an active presence across Northeast Florida, with ongoing single-family residential projects spanning St. Johns and Clay counties.