Under a proposal unveiled April 4, a partnership between a Miami-based affordable housing developer and Cathedral District Jacksonville would receive city-owned land for an 85-unit mixed-income apartment community in Downtown.
In a resolution set to go before the Downtown Investment Authority committee on April 10, the DIA proposes providing three parcels at 216, 222 and 228 E. Duval St. to Housing Trust Group LLC and Cathedral District-Jax Inc. for development of the apartments.
Cathedral District Jacksonville is led by president and CEO Ginny Myrick. The organization has been working to revitalize the Downtown neighborhood that is the home to five churches. It partnered with Vestcor on the 120-unit Lofts at Cathedral apartments also on Duval Street.
The new apartment building will include 1,200 square feet of ground-floor commercial and retail space and a structured parking garage on the first two levels.
Other features include a 1,400-square-foot entrance lobby and an 8,295-square-foot amenity space that will include a lounge area, business center, library, fitness center and pool lounge.
A 6,755-square-foot outdoor amenity space features a 760-square-foot swimming pool, barbecue grill and lounge plus additional space for activities.
According to a DIA staff report, the developer lists the total project cost at $36.5 million.
Of the residential units, 75 will be designated for households earning at or below 80% of the area median income and 10 will be offered for unrestricted market rates.
Plans call for 70 one-bedroom, one-bathroom units, with the rest being two-bedroom, two-bath apartments.
Ten of the single-bedroom apartments will be designated for low-income households earning up to $23,340; 24 will be affordable units for households earning up to $46,680; and 30 will be workforce units for households earning up to $54,460.
Of the two-bedroom units, two will be offered at low-income rates, three will be affordable units and six will be workforce housing.
According to DIA documents, the city-owned parcels would be offered for free in return for a commitment by the partners to complete the project. The city values the three parcels together at $271,000.
The DIA spent $200,000 to demolish unsafe structures on the property and clear the site, which encompasses 0.21 acres combined between the parcels.
For the land alone, the DIA estimates that the city would gain $779,971 in tax revenue over 20 years when the project is completed.
The apartments would generate $3.09 million in property taxes over 20 years, the DIA estimates.
Terms call for the start of construction within 12 months following the effective date of a redevelopment agreement, with substantial completion at 24 months after the construction commencement date.
The DIA staff report states that the development partnership intends to seek state tax credit financing for affordable housing and will apply for an Affordable Housing Support Loan from the DIA at its May 2025 board meeting. The amount of the DIA program loan is not listed.
The city owns dozens of properties Downtown. The DIA’s mission includes disposing of those properties to private developers and putting them back on the tax rolls.
Myrick said the project would be the second developed in the area by HTG, one of the largest affordable housing developers in the nation. The company, which frequently collaborates with local and state governments on projects, has developed more than 8,000 multifamily housing complexes.
HTG developed the Bryce Landing Apartments in Middleburg in Clay County built in 2022.
Cathedral District-Jax Inc. is a 501(c)(3) nonprofit working to revitalize the Cathedral Hill District, which is bordered by State, Adams, Main and Liberty streets. It draws its name from the five historic churches within its boundaries.
The organization is led by a 19-member board with experience in the finance, real estate, government, community development and business sectors.
Myrick, the organization’s president and CEO, served on the City Council from 1987 to 1994.
Jacksonville-based PQH Group Design is the designer of the Cathedral Hill project, and HTG Management LLC is the property manager.
The proposed property disposition is contained in DIA Resolution 2025-04-13. It is on the agenda of the DIA Retail Enhancement and Property Disposition Committee’s April 10 meeting, which is scheduled for 10 a.m. at the main Jacksonville Public Library at 303 N. Laura St.