JACKSONVILLE, Fla. – Housing Trust Group has secured financing and broken ground on Normandy Cove, a 144-unit affordable housing community on the Westside that will reserve half its apartments for active-duty military members and veterans.
The development at 7375 Sheldon Drive will offer one-, two- and three-bedroom apartments reserved for income-qualifying residents earning 30%, 60% and 70% of the area median income, with monthly rents ranging about $470 to $1,716. HTG said recent market data show Duval County’s population grew nearly 5 percent over the past four years, with average asking rents in the submarket topping $1,500.
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Half of Normandy Cove’s units will be set aside for active-duty service members and veterans, including a 5 percent set-aside for veterans experiencing homelessness. HTG is partnering with local organizations Hope4Veterans Inc. and I.M. Sulzebacher Center for the Homeless to reach prospective residents and provide supportive services such as employment assistance, financial management, homeownership opportunities and veteran-focused programming.
The developer worked with the Duval County School Board to secure an easement through adjacent Edward H. White High School, converting the 14-acre parcel into a community asset, HTG said.
“Normandy Cove is a direct response to the housing mismatch in Jacksonville, where service members and working families are increasingly being priced out of the communities they serve,” said Matthew A. Rieger, president and CEO of Housing Trust Group. “By partnering with local veteran service organizations and the Duval County School Board, we’ve been able to transform a complex site into a sanctuary that offers more than just a roof — it offers stability, dignity and specialized support for those who have served.”
Normandy Cove is financed with $20.8 million in 4% Low-Income Housing Tax Credit equity allocated by the Florida Housing Finance Corporation and syndicated by Raymond James; a $27.5 million construction loan from TD Bank; a $16.4 million permanent loan from Berkadia through Freddie Mac; an $11 million State Apartment Incentive Loan from FHFC; $1.5 million in gap funding from the City of Jacksonville Housing and Community Development Department Revolving Loan Fund; and $500,000 in gap funding and tax-exempt bond financing from the Jacksonville Housing Finance Authority.
Apartments will feature quartz countertops, luxury vinyl plank flooring and modern appliances. Community amenities include a swimming pool, fitness center, business center, multipurpose clubhouse, outdoor amenity deck and dedicated office and meeting space for veteran service providers. HTG said the development will receive National Green Building Standard certification.
A second phase planned at Normandy Cove would add 99 units, bringing the total to 243 residences.
The site is minutes from I-295 and I-10 and close to retail along Normandy Boulevard. Normandy Cove is about 20 minutes from downtown Jacksonville, 20 minutes from Naval Air Station Jacksonville and about 45 minutes from Mayport Naval Station and U.S. Naval Forces Southern Command.
Design and construction partners include FK Architects (architect and interior designer), BDI Construction (general contractor) and NV5 Inc. (civil engineer).
Normandy Cove is Housing Trust Group’s first affordable housing community in the Jacksonville area. HTG said it is also advancing plans for Duval 212, an 85-unit project in downtown Jacksonville in partnership with a local nonprofit and city agencies aimed at turning underused church and city land into mixed-income, mixed-use development.