Workforce developer renovating third senior apartment complex
A Tampa workforce housing developer and a Jacksonville nonprofit organization were awarded $16.6 million in federal funding to renovate a third senior apartment complex Downtown and they have plans to build a fourth apartment community.
The money will be used to revamp Cathedral Townhouse, a 177-unit apartment community at 501 N. Ocean St. It is operated by Aging True, a nonprofit that provides senior housing services and runs the Jacksonville Meals on Wheels program.
Work is scheduled to start in the second quarter of 2019 and be completed by the end of 2019.
The developer, Blue Sky Communities, upgraded Aging True apartment complex Cathedral Terrace in 2016 at a cost of $10 million, and is scheduled to complete its second Aging True renovation project at Cathedral Tower this year at a cost of $12 million. Cathedral Townhouse is the third project.
“The senior population is one of the fastest growing segments – with 12,000 people turning 65 every single day in this country, and housing is one of the most needed services for this population,” said Aging True CEO Terri Barton in a news release.
“Our mission is to meet the demands for quality housing for the city's seniors who are living on limited incomes.”
The developer and nonprofit also are planning to build a fourth apartment building for seniors and the workforce population. The building is planned on a vacant lot adjacent to the other three Cathedral buildings.
The fourth building will be five stories and feature 120 units, with amenities like a fitness room and a parking garage with 160 spaces.