Three months after breaking ground on March 25, the Madison Seagrass apartment community in St. Augustine can begin vertical construction.
The project is at 875 Florida 16 near Kenton Morrison Road and is expected to include 278 apartments.
St. Johns County issued building permits June 26 for six residential buildings, a clubhouse and three parking garages at a total cost of $69.3 million. Across the residential buildings, garages and clubhouse, the project encompasses 274,874 square feet.
Charlotte, North Carolina-based Madison Capital Group, through its subsidiary Madison Communities, is developing the multifamily community under Florida’s Live Local Act.
Benco Construction LLC, the in-house construction arm of Madison Capital Group, is the contractor.
According to the developer, about 40% of the units will be designated under the law, which supports multifamily housing projects on land zoned commercial, industrial or mixed-use. The 2023 law, updated in 2024, provides land use exceptions, financial incentives and tax benefits to developers who reserve 40% of units for tenants earning up to 120% of area median income.
The area median income in St. Johns County was $102,500 in 2025, according to the Florida Housing Finance Corp., meaning 120% equals about $123,000. The Live Local Compliance and Monitoring Agreement between the developer and county cites the FHFC as the official source for the AMI data.
No information is available on rental rates or unit sizes for Madison Seagrass.
Madison operates communities in Florida, Alabama, Georgia, North Carolina, South Carolina, Tennessee and Virginia, according to the company’s website.
In St. Johns County, Madison previously completed Madison Fountains at The Fountains at St. Johns, a mixed-use development at northeast County Road 210 West and Interstate 95. The community is marketed as luxury living.