Jacksonville-based Corner Lot announced Oct. 17 it will begin construction soon on Flagler Crossing Phase II, a 180-unit, $42 million multifamily community in St. Augustine.
It is expected to open in the first quarter of 2026, Corner Lot said in a news release.
The apartments will have at least 50 units dedicated to working families making between 85% and 120% of the area median income.
Phase II will share amenities with Phase I, including a leasing office, gym, a resort-style pool, walking trails and access to the San Sebastian River, according to the release.
Phase I is at 725 Flagler Crossing Drive west of U.S. 1 and Schooner’s Seafood House and east of Lewis Speedway.
Financing was acquired through Trustmark Bank and First Coast Real Estate Partners, a private equity firm specializing in real estate development. Summit Contracting Group Inc. is the project’s general contractor; Group 4 Design is the architect; and Gulfstream Engineering is the civil engineer.