Florida Construction News staff writer
Corner Lot has secured funding this week for Avion, a new Northwest Jacksonville multifamily community that will provide workforce housing near numerous employment centers and transportation corridors.
Contracting Group will partner with Corner Lot on construction, which is scheduled to begin this Fall and be completed by Fall 2025.
Jacksonville city council unanimously approved a development agreement with Corner Lot in May to address the attainable housing shortage in Jacksonville. Once complete, the $65-million development will include 320 apartment units, with 30 percent designated as workforce housing.
“The timing of us closing Avion could not be better for the community. This is the right project, in the right location, at the right time for Jacksonville,” said Andy Allen, Corner Lot CEO. “We worked closely with the City Council to bring Avion forward, and we can’t thank them enough for having the vision to help make it happen for Jacksonville.”
Eight four-story buildings are included in the plan, along with amenities including a resort-style pool, clubhouse, 24-hour fitness center, outdoor fitness facility, dog park, picnic area, walking trail, community room, and mail room.
“Given the current state of capital markets, The First Coast Real Estate team is especially pleased to commence development of our second project with Corner Lot Development in 2023. We believe the Jacksonville market will look very different in 2025 and 2026 when these units are delivered,” said managing partner John Simmons of First Coast Real Estate Partners. “The recent announcement of the 1,000,000 square foot industrial center for Sam’s Club distribution is just another example of how the workforce in this submarket continues to grow.”
