By Carole Hawkins, [email protected]
Cagan Management Group Inc. will build an 80-unit apartment complex, targeting the “workforce” middle-market consumer, in the southwest Orange Park region.
“We believe there’s a growing need for this type of housing in the Jacksonville area in general. But we also feel Blanding Blvd. is a growth corridor,” said Jeff Cagan, a company principal.
The Orlando-based company, which focuses on middle-market housing construction and property management, has owned since the late 1980s Maverick Trails Townhomes, adjacent to where the new complex will be built, Cagan said.
The location for both is 428 Madison Avenue, just off Blanding Blvd. and about halfway between Middleburg and the I-295 Beltway.
The new project, known as Marverick Trails Phase II Apartment Addition, will be a two-story, five-building complex featuring one- and two-bedroom apartments about 900 and 1,200 square feet in size.
Rents have not been set yet, but Cagan said they will be comparable to those at nearby apartment complexes, like Cypress Point and Palmetto at OakLeaf Plantation.
The company plans to break ground by the end of the year, with occupancy occurring sometime in June or July of 2015.