Waypoint Residential secures $34.6 million for Jacksonville project

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Waypoint Residential has secured a $34.6-million construction loan from SunTrust Bank to develop a planned, 301-unit community in Jacksonville.

The community, called Volaris West Kernan, will be built on a 31.3-acre site located at 12517 Beach Blvd. in Jacksonville’s Southridge submarket, according to a report from Multi Housing News.

Project plans call for 17 two- and three-story buildings with a mix of one- to three-bedroom apartments, with an average floorplan of 887 sq. ft. On-site amenities will include a clubhouse, a fitness center, a dog park and a game room.

“Volaris West Kernan represents the launch of Waypoint’s new Volaris brand in the North Florida market and follows on the recent successful lease-up and sale of the Point at Tamaya,” Eric Hade, chief development officer for Waypoint, said a statement. “The … location at the intersection of West Kernan and Beach provides convenient access to the beach and all of the primary employment areas throughout the city, without the congestion found in some other areas of town.”

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