DeBartolo Development, led by the former owner of the San Francisco 49ers, is expanding its real estate footprint into St. Johns County, securing 19 permits totaling approximately $41.1 million for a major apartment project in the MuraBella area.

DeBartolo’s Legacy of Innovation and Growth

Founded in 1944 in Youngstown, Ohio, by Edward J. DeBartolo, Sr., DeBartolo Corporation revolutionized real estate by opening the first shopping mall in 1948 in Boardman, Ohio. The company went on to develop and sell more than 100 strip malls by 1965, pioneering the modern shopping experience.

Expanding beyond retail, DeBartolo Corporation entered the world of professional sports ownership. Edward J. DeBartolo, Jr. acquired the San Francisco 49ers in 1977, applying the same innovative approach to sports management that had defined the company’s real estate success. Under his ownership, the 49ers became a dynasty, winning five Super Bowls. DeBartolo in 2016 was honored as a member of the Pro Football Hall of Fame for his accomplishments. The DeBartolo family also owned the Pittsburgh Penguins, further solidifying their influence in the sports industry.

DeBartolo Development, currently led by Edward M. Kobel since 2003, has successfully invested in and developed over $3 billion in real estate assets across multiple property types. Their portfolio includes notable projects such as The Market at Mills Park in Orlando, Optima Chicago Center, and Ka Makana Ali’i, the first regional shopping center to be built in Oahu in over 30 years. The company has invested in assets valued at over $5 billion since 2003, with holdings including over 40,000 multifamily units, 4.5 million square feet of retail space, 5,300 hotel units, and 1.6 million square feet of industrial property.

Details of the St. Johns County Project

The newly permitted project in St. Johns County, approved by county commissioners in 2021 under the name Palm Lakes, will consist of 12 apartment buildings and seven garage structures. Spanning 23 acres off State Road 16, the development will offer 392 apartments, while an additional 10 acres have been zoned for mixed-use purposes.

Strategically located, the site is bordered by the County Road 2209 right-of-way to the west, with the Turnbull Creek Restoration Project—a 760-acre wetland conservation area—immediately to the east. The surrounding area is largely developed with single-family homes, adding to the community’s growing residential landscape.

DeBartolo’s Continued Expansion in St. Johns County

DeBartolo Development has been actively expanding its footprint in St. Johns County and beyond. The company recently acquired the Eight Winds apartment complex for $59 million. Located at 50 Wexford Way, east of World Golf Village and Interstate 95, the 280-unit complex spans 12.3 acres and features seven apartment buildings, a clubhouse, private garages, storage units, and electric vehicle charging stations.

Additionally, DeBartolo has over 4,000 multifamily units under development or construction nationwide, including Oakley Square in Jacksonville, a $22 million project comprising 312 garden-style apartments near Oakleaf Town Center. Other projects are in development in Tampa, Sanford, and across multiple states.

Upholding Core Values in Development

DeBartolo Development is known for its commitment to innovation, community-building, and quality, principles that have guided its real estate ventures for decades. By focusing on creating high-value properties that integrate seamlessly into their communities, DeBartolo ensures that their projects not only meet market demand but also enhance the neighborhoods they serve.

As multifamily developments become increasingly popular in St. Johns County—driven in part by rising single-family home prices—DeBartolo’s investments position them at the forefront of the region’s rapid growth. With a legacy rooted in vision and excellence, DeBartolo Development continues to shape the landscape of modern real estate.