Balanky has a vision of his own

company that seems to make successful plays for high profile and niche corners around Northeast Florida.

What turns my attention to Balanky is that he has snagged some properties that aren't easily or quickly redevelopable, but are lucrative opportunities. All require sensitive negotiations with governments, permitting agencies and, most important, neighbors. That's no walk in the park.

"He likes the challenge. He really does," said City Councilman Michael Corrigan, who represents Riverside, Avondale and other West Jacksonville communities. Corrigan called Balanky a "straight shooter" who wants to work with regulators and neighbors. One of Balanky's newest ventures is as a partner in a proposed redevelopment of the Commander apartments and St. Johns Village along Fishweir Creek at the St. Johns River.

The influential Riverside Avondale Preservation group wants to meet with Balanky to evaluate the complexities of the project, which calls for three buildings of 17, five and four stories. "The devil is in the details," said Trip Stanly, former chairman of RAP.

Balanky often works with other investors and partners in his deals. Other projects under way or in due diligence include The Cove at St. Johns condos along Goodby's Lake; the Kings Avenue Station in San Marco; the Palm Cove Marina and Lighthouse Sound condos along the Intracoastal Waterway; Deerwood Lake near Tinseltown; and his highest profile Southbank project, San Marco Place, where 139 condos were pre-sold from $200,000 to $1.2 million. He's holding out the remaining two penthouses for future sale.

That deal landed city incentives. Jeanne Miller, deputy executive director of the Jacksonville Economic Development Commission, said Balanky was flexible and fair and "very up front" in the negotiations. She said he doesn't hesitate to "get down into the details."

Balanky also realizes that developments can make waves. "I'm not naive enough to think I haven't ruffled some feathers," he said.

Balanky, a C student, graduated from Englewood High School, attended Florida Community College at Jacksonville and studied business at the University of North Florida, but did not graduate. He earned a real estate license during college. He started out selling radio ads and developed Truck Chaps, a protective magnetic covering for trucks.

He quickly sold the patent rights to Truck Chaps and started the Truck Options retail chain, eventually franchising and then selling it. After joining the office of retail real estate broker Geneva Henderson, he bought and sold some shopping centers and then created Chase Properties. His wife of 11 years, Gayle, is a partner.

Miller and Corrigan say Balanky is becoming an increasingly important developer with each project he takes on.

As for vision, I see Balanky continuing to parlay his deals and connections into the big leagues, especially here at home in Northeast Florida.

karen.mathisjacksonville.com, (904) 359-4305
 

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