The Vestcor Companies has a new project underway in Jacksonville, FL. Dubbed “Lofts at Cathedral,” the project’s expected to break ground sometime next year. The project includes two components. The first component is a five-story building with units ranging from 476 to 1,013 square feet each. This phase has about 90 units.
The second component requires renovating an already-existing building, which was formerly part of the area’s YMWA. The building measures three stories above grade and has units measuring from 470 to 1,129 square feet. This phase has about 30 units.
Developers will build 30 units at a former YWCA building.
In total, there are 120 units with over 15 layout plans to choose from. Per the Jacksonville Daily Record, the entire development’s estimated to cost $28 million to complete. The Vestcor Companies purchased the YCWA building in September 2019 and the empty lot in February 2020 for $1.4 million total.
The mixed-income development will have 18 units for those making 30 percent of the area’s median income, 39 units for 60 percent of the area’s median income, and 27 units for those making 80 percent of the area’s median income. The remaining units will be offered at at-market rates.
A rendering of the two buildings.
Lofts at Cathedral has two addresses. The five-story building is located at 327 East Duval Street, and the three-story building is located at 325 East Duval Street. Both are located in Jacksonville, FL, 32202, in Duval County.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
could the new construction be any uglier or uninspiring? Look at the existing building as a precedent?!!!!