Florida Construction News staff writer
Construction has begun on a three-site affordable housing development in Jacksonville that will add 108 units for households earning up to 60 per cent of the area median income.
The Parkwood Commons project, developed by JWB Real Estate Capital, received permits from the City of Jacksonville in July, with initial site work now underway. The approximately $28.6-million development is expected to open in 2027.
The project will be built across three infill sites: Parkwood Commons North at 5875 Justina Ct., Parkwood Commons West at 3825 Ricker Rd. and Parkwood Commons South at 1441 Tracy Rd.
Parkwood Commons West, where a groundbreaking ceremony was held, will include 38 townhomes. The development will feature two-storey, three-bedroom units ranging from 1,428 to 1,444 square feet.
The North and South sites will each include 35 one-storey, ranch-style units measuring 399 square feet.
All 108 units will be subject to affordability requirements for 99 years under the project’s financing structure, with rents priced for households earning at or below 60 per cent of the area median income.
The development is JWB’s first project using Low-Income Housing Tax Credits, a federal program that provides tax incentives for the development of affordable rental housing.
The project includes $7.15 million in gap financing from three organizations, including a $3.8-million loan from the City of Jacksonville, a $1.85-million loan from the Jessie Ball duPont Fund and a $1.5-million loan from the Jacksonville Housing Finance Authority.
In addition to the housing units, the three sites are planned to include amenities such as playgrounds, community gardens, community spaces, computer labs, picnic areas and car care facilities.
Jacksonville Mayor Donna Deegan said the new units are part of the city’s broader efforts to increase the supply of below-market housing.
The project brings together a number of development, engineering and construction partners. Flight Builders, Marietta Sand Corporation, Bold Line Design, Prime Engineering and Kennedy Civil Services are among the companies involved.
JWB is also working on plans for Cathedral Commons, a proposed 120-unit affordable housing development in Jacksonville’s Cathedral Hill district.