A local real estate firm, JWB Real Estate Capital, has secured funding for a portfolio of three affordable housing projects in Jacksonville, which will provide 108 units of housing. The projects, located on Tracy, Justin, and Ricker roads, are part of the firm’s first foray into affordable housing development.
Affordable Housing Units
Each of the units will be priced for residents at or below 60% of the area median income and remain at that level for 50 years. The projects received a total of $28.59 million in gap funding, including a $10 million low-income housing tax credit, $9.8 million from bonds, and loans from the city of Jacksonville and the Jacksonville Housing Finance Authority.
The city of Jacksonville faces a deficit of 50,000 units of housing for low-income residents, according to the National Low Income Housing Coalition’s 2025 Gap study. The groundbreaking for the portfolio of affordable communities will take place by September, and the projects will be completed by mid- to late-2027.
Original reporting: Jacksonville Today — read the source article.
