The Jacksonville Transportation Authority on Sept. 19 announced agreements to build two multifamily developments with workforce housing in Downtown Jacksonville.
JTA said its board authorized long-term ground leases with Corner Lot and Gateway Jax for the transit-oriented projects near Skyway stations.
The Corner Lot development is at Montana Avenue and Manning Street near JTA’s Kings Avenue Parking Garage on the Southbank.
The 186-unit project includes 40% of units designated as workforce housing for residents at 80% of area median income.
The Gateway Jax project is on the east side of the Rosa L. Parks Transit Station at 201 W. Union St.
The 250-unit development includes 15% of the units designated as workforce housing at 120% of area median income.
Transit-oriented developments provide urban infill and convenient access to public transit.
“With these Transit Oriented Developments, we are helping to make downtown Jacksonville more walkable with better access to jobs, housing and public transportation for people of all ages and incomes,” JTA CEO Nat Ford said in a news release.
It is the second Southbank deal for Corner Lot with JTA. Corner Lot is building the 340-unit Artea apartments south of the Duval County Public Schools building near the Kings Avenue Parking Garage on land leased from JTA. The $96.9 million, four-story multifamily building will offer studio, one- and two-bedroom floor plans and balconies, a 425-space parking garage, a swimming pool and other amenities.
The 1-acre site at Montana Avenue and Manning Street is about 300 yards south of the Artea property.
“As we learned with our previous partnership on Artea at Southbank, which is close to completion, these collaborations take time to evolve but are absolutely achievable,” said Billy Zeits, Corner vice president of government relations and external affairs, in the release.
In December 2023, the JTA board authorized staff to begin negotiating with Gateway Jax on a lease for the 1.47-acre eastern portion of the Rosa Parks station.
Gateway Jax CEO Bryan Moll said in the Sept. 19 release the development would be a step toward creating a “world-class downtown” in Jacksonville.
“We look forward to adding this mixed-use project to our portfolio, which will encourage even more families and individuals of all income levels to call Downtown their home,” he said.
The city has issued Gateway Jax permits to begin construction of its $500 million first phase, which includes 1,160 apartments and 99,000 square feet of retail space across five blocks of Downtown’s NorthCore district. JWB Real Estate Capital and DLP Capital are partners in Gateway Jax.
JTA said both transit-oriented developments would use the Skyway elevated tram, which JTA plans to convert to an autonomous vehicle roadway through the Ultimate Urban Circulator, or U2C.
“A few years ago, the JTA declared it was ready to transform its lazy assets into placemaking opportunities for our riders and the private sector,” said Cleveland Ferguson III, JTA executive vice president and chief administrative officer, in the release. “We are pleased that the developer community sees the value of public transportation and is using our U2C TOD planning studies and forming partnerships to create sustainable housing and pedestrian-centric amenities.
JTA said both projects would be leased for 99 years, with substantial completion targeted over the next three years. The release did not include additional terms of the agreement.