TDK Land LLC has purchased more than 20 acres of land along Lime Street in Fernandina Beach to possibly build a new apartment complex.
Four parcels, which sit across the street from Southside Elementary School, were sold by Oglethorpe Development LLC for $3 million. Currently, the properties are vacant.
The deed allows TDK to develop at least 224 apartment units within the property. TDK did not return a request for comment on Friday.
The construction and development company is based out of Murfreesboro, Tennessee. It has built more than 6,800 units in the South.