Two Jacksonville City Council members are seeking to grant financial assistance to a developer planning to create about 110 units of affordable housing in the city.
Council committees are set to consider Ordinance 2026-0266, introduced by Ken Amaro and Tyrona Clark-Murray, which would grant a $3.2 million loan to Tracy Justina Ricker TC LLC, payable upon substantial completion of the project with a 3% interest rate and 20-year term.
Tracy Justina Ricker TC LLC is managed by an LLC whose management includes executives of Jacksonville-based JWB Real Estate Capital, according to state Division of Corporations records.
The LLC says it would develop 35 apartment units on 1.81 acres on Tracy Road, 35 one-bedroom units on 1.61 acres on Justina Court and a 38-unit townhouse community on 3.22 acres on Ricker Road.
The total project cost is estimated at $18.4 million, according to the legislation.
Tracy Road is in Arlington near Terry Parker Senior High School. Justina Court also is in Arlington, near Jacksonville University. Ricker Road is in West Jacksonville off 103rd Street.
Tracy Justina Ricker TC LLC already received city funding previously for the same project. In February, Council approved the city’s issuance of bonds to pay up to $16.63 million to buy and develop the land for the project.
Additionally, legislation in the Florida Senate sponsored by Sen. Clay Yarborough would have given the company $750,000 in state funding, but the money was not approved.
The city legislation is set to appear before the Neighborhoods, Community Service, Public Health and Safety; Finance; and Rules committees before a full Council vote.