In West St. Augustine, Florida, nonprofit developer Ability Housing celebrated the completion of the Village of New Augustine, a 92‑unit affordable housing community at 280 N. Volusia Street. The project, the organization’s first in St. Johns County, provides rental units for households earning up to 60 % of the area median income.
Project background and timeline
The concept for the Village of New Augustine began in 2018. After years of acquiring the property, negotiating utility and infrastructure agreements with the City of St. Augustine and St. Johns County, and securing financing, construction commenced and lasted roughly two and a half years. Ability Housing partnered with the West Augustine Historical Community Development Corp. to bring the development to fruition.
Unit details and current leasing
The community offers one‑, two‑ and three‑bedroom apartments with rents ranging from about $634 per month for a one‑bedroom unit to $1,599 for a three‑bedroom unit. As of the announcement, 30 % to 40 % of the units are leased, providing immediate housing options for local service‑industry workers who previously faced long commutes.
Financing and partners
The $26.5 million project was financed through a blend of public and private sources. Florida Housing Finance Corp. contributed a $4.265 million affordable housing loan and $1.625 million in Low‑Income Housing Tax Credits. National Equity Fund supplied $14.867 million in equity, while Bank of America provided both a $14.22 million construction loan and additional equity investment. Churchill Stateside Group delivered a $5.37 million permanent‑financing mortgage.
St. Johns County approved a $460,000 affordable housing grant and a $1.2 million award from American Rescue Plan funds, and deferred impact fees in 2022. The West Augustine Community Development Corp. received a $724,000 pre‑development loan from Florida Housing Finance Corp.
Bradley Construction Co. served as the general contractor, Group 4 Design Inc. as the architect, and JBPro handled civil engineering.
Community impact and future plans
Ability Housing CEO Reggie Fullwood said the project demonstrates what can be achieved when public, private and nonprofit sectors collaborate. He noted that the development offers local workers the chance to live within walking or biking distance of their jobs, reducing the need for long commutes and supporting the tourism‑driven economy of downtown St. Augustine.
Fullwood also highlighted the relatively low level of opposition, describing the community’s response as “very little NIMBYism.” The organization hopes the success of this project will encourage additional affordable‑housing investments throughout St. Johns County.
Ability Housing’s recent activity
Earlier this year, Ability Housing opened the $31 million, 90‑unit Village at Cedar Hills in Jacksonville. In April, the developer broke ground on a $46 million, 120‑unit project at the former Lake Forest Elementary School site, further expanding its footprint in Northeast Florida.
Looking ahead
Fullwood emphasized that land acquisition and zoning remain the biggest challenges for affordable‑housing developers. He noted that finding suitable parcels that welcome such projects is essential for continued progress.
The Village of New Augustine adds a critical housing option for families and individuals who might otherwise be priced out of the region, aligning with broader efforts to address the housing shortage in one of Florida’s fastest‑growing counties.
Original reporting: Jacksonville Today — read the source article.
