With a unanimous vote April 16, the Downtown Investment Authority board set into motion a plan aimed at providing three city-owned parcels of land to a partnership between a Miami-based affordable housing developer and Cathedral District Jacksonville for an 85-unit mixed-income apartment community.
The board voted 8-0 on a resolution designed to facilitate the project by Housing Trust Group LLC and Cathedral District-Jax Inc.
Resolution 2025-04-13 puts the three parcels up for disposition, the process by which the DIA makes city-owned lots Downtown available for private development.
With the DIA action, the city will post a 30-day notice of disposition in which any party interested in developing the lots can offer a proposal. The parcels, which together comprise 0.21 acres, are at 216, 222 and 228 E. Duval St.
If the notice draws no responsive, qualified proposals other than the one by HTG and Cathedral District Jacksonville, or if other proposals are determined to be lower in value to the city, the DIA can proceed with a redevelopment agreement with the partnership.
Negotiations also are contingent on the partners obtaining an Affordable Housing Support Loan from the DIA, which they are expected to seek at the May 2025 DIA board meeting.
Cathedral District Jacksonville is led by president and CEO Ginny Myrick, a former Jacksonville City Council member. The organization has been working to revitalize the Downtown neighborhood, which is the home to five churches. It partnered with Vestcor on the 120-unit Lofts at Cathedral apartments also on Duval Street.
The DIA brands the neighborhood as Cathedral Hill, one of eight districts that make up Downtown.
As detailed in DIA documents, the new apartment building will include 1,200 square feet of ground-floor commercial and retail space and a structured parking garage on the first two levels.
Other features include a 1,400-square-foot entrance lobby and an 8,295-square-foot amenity space that will include a lounge area, business center, library, fitness center and pool lounge.
A 6,755-square-foot outdoor amenity space features a 760-square-foot swimming pool, barbecue grill and lounge plus additional space for activities.
According to a DIA staff report, the developer lists the total project cost at $36.5 million.
Of the residential units, 75 will be designated for households earning at or below 80% of the area median income and 10 will be offered for unrestricted market rates.
Plans call for 70 one-bedroom, one-bathroom units, with the rest being two-bedroom, two-bath apartments.
The DIA estimates that for the three parcels alone, the city would gain $779,971 in tax revenue over 20 years when the project is completed. The apartments would generate $3.09 million in property taxes over 20 years, the DIA estimates.
HTG is one of the largest affordable housing developers in the nation. The company, which frequently collaborates with local and state governments on projects, has developed more than 8,000 multifamily housing complexes.