JACKSONVILLE, Fla. – The Jacksonville Housing Authority Board of Commissioners said it recently approved two development projects with two different local developers that will add new single-family and townhome units to meet the city’s growing need for affordable housing.
With the first project, Chase Properties will build 102 new townhomes on a 19-acre site on Jacksonville’s Westside. Upon completion, JHA will own and manage the property. Plans call for 20% of the units to be rented as affordable housing and the balance rented at market rates. JHA said it will finance the $33 million build-out of the project.
The second project is with JWB Real Estate Capital, whereby JWB is selling 50 brand new single-family, infield homes scattered throughout eight different ZIP codes. Three of the homes will be 2-bedrooms, 25 will be 3-bedrooms and 22 will be 4-bedrooms. JHA will acquire the homes for $11.5 million, or $230,000 each.
As the need for housing continues to swell in Jacksonville, JHA said it has been searching for innovative development solutions to maximize unit mix for families seeking affordable housing.
“While these two projects are a drop in the bucket of what’s needed in Jacksonville, it’s a start,” said JHA Chairman Chris Walker. “By advancing these new housing projects the JHA Board of Commissioners is letting the community know that we’re doing something to address the problem. This has never been done before in Duval County.”
“I’d like to applaud and thank the Board of Commissioners for their support of these projects,” said JHA CEO Dwayne Alexander. “These projects demonstrate that JHA is serious about coming up with new and creative ways to continue to meet the housing needs of the citizens of Jacksonville.”