The grand opening for The Lofts at San Marco East, a 172-unit apartment community at Philips Highway and St. Augustine Road, is Oct. 25.
A ribbon-cutting is scheduled for 9 a.m. Oct. 25, according to property manager WRH Realty Services Inc.
The four-story, 183,000-square-foot building is at 3036 Philips Highway.
The community is targeting tenants making less than 60% of the area median income. That would set a cap of $35,160 for one person and up to $50,160 for a family of four.
The Vestcor Companies is the developer. Summit Contracting Group Inc. is the contractor. Group 4 Design Inc. is the architect. Abbey Civil Engineers Inc. is the engineer.
Construction of the $25 million project began in 2023.
The project was financed by owner equity; federal-state Low-Income Housing Tax Credit equity; a State Apartment Incentive Loan from the Florida Housing Finance Corp.; a gap loan and Multifamily Housing Revenue Bonds issued by the Jacksonville Housing Finance Authority; and a HOME funds loan through the city Neighborhoods Department.
The apartments comprise eight studios and 61 one-, 89 two- and 14 three-bedroom units. They are equipped with full kitchens with energy-efficient appliances and feature walk-in closets and nine-foot ceilings. Washer and dryer rentals are available.
Amenities include a fitness center, internet cafe, club room, resident lounge with billiards table, televisions and games, a playground, car wash area, community garden, common area Wi-Fi, 24-hour emergency maintenance and controlled access. Storage space is available and there are two elevators. There are also planned monthly resident activities.