JACKSONVILLE-A major residential, retail and office project that fell victim to the recession has new life. A partnership of Miami and Atlanta-based investors has purchased 120 acres of vacant land on the Southside Connector for a major mixed-use development.

Four entities of Indigo Jax LLC, a joint venture of James Kern and Alex Sanchez (Miami), Gerard Gunthert, Simon Engler and FOG Capital (Atlanta), acquired the Kendall West property and are shopping some components of the planned development to interested developers, according to the Jacksonville Business Journal.

The developers' plans include two single-family home projects, an apartment development, and 45 acres of retail, office or distribution space. Indigo Jax plans to sell the residential components of the project to other developers, while building out the commercial space themselves. No terms of the land purchase were released.

“The site is so well-located with access to the Southside Connector, I-95 and Atlantic Boulevard, that we anticipate a number of possible uses for the property,” Indigo Jax's Kern said. “We have been talking to a number of national homebuilders and apartment developers and the interest is very promising.” See story in the Jacksonville Business Journal.