{"id":984978,"date":"2026-08-06T17:30:16","date_gmt":"2026-08-06T17:30:16","guid":{"rendered":"https:\/\/www.europesays.com\/us\/984978\/"},"modified":"2026-08-06T17:30:16","modified_gmt":"2026-08-06T17:30:16","slug":"jwb-to-transform-three-plots-of-vacant-land-into-108-affordable-apartments-across-jacksonville","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/984978\/","title":{"rendered":"JWB to transform three plots of vacant land into 108 affordable apartments across Jacksonville"},"content":{"rendered":"

JACKSONVILLE, Fla.<\/strong> \u2013 As Jacksonville continues to face a shortage of affordable housing, one local developer is turning small, underused parcels of land into apartments aimed at lower-income families.<\/p>\n

Click here for more Addressing A4dability coverage.<\/a><\/p>\n

JWB Real Estate Capital<\/a> is starting construction on three affordable housing developments that will create a total of 108 apartments in Arlington and on the Westside. The projects represent the company\u2019s first multifamily affordable housing developments.<\/p>\n

Construction is already underway at Parkwood Commons South on Tracy Road in Arlington, where a nearly 2-acre site will become a 35-unit apartment community.<\/p>\n

\u201cIt\u2019s actually known as a national best practice to take these leftover pieces, remnant pieces, and turn them into productive uses like affordable housing, where a lot of times they\u2019ll sit and they\u2019re blighted,\u201d JWB President Alex Sifakis said.<\/p>\n

Rather than building one large apartment complex, JWB is developing three smaller communities of 35 to 38 units each on land the company already owned.<\/p>\n

\u201cSo this is kind of an innovative project where instead of taking one big piece and putting one big apartment complex, we\u2019re doing three smaller 35- to 38-unit complexes using the leftover land and turning it into a productive use of affordable housing,\u201d Sifakis said.<\/p>\n

The other developments are planned on Justina Court in Arlington and on Ricker Road on Jacksonville\u2019s Westside.<\/p>\n

Sifakis said the locations were selected because JWB is already familiar with the neighborhoods and local leaders supported bringing affordable housing to the areas.<\/p>\n

\u201cThey\u2019re neighborhoods that we know really well. The council people were really excited to get affordable housing in those districts and land that JWB has owned for a couple of years,\u201d he said. \u201cSo it made sense to take those pieces and turn them into affordable housing.\u201d<\/p>\n

The three projects received a combined $28.59 million in financing to help keep rents affordable. The funding includes a $10 million award through the federal 4% Low-Income Housing Tax Credit program, $9.8 million in bond financing and a $3.8 million loan from the City of Jacksonville.<\/p>\n

\u201cIt takes a village,\u201d Sifakis said. \u201cYou use the federal tax credits combined with local participation, and that\u2019s how you make them work.\u201d<\/p>\n

The apartments will be reserved for households earning no more than 60% of the area median income. That\u2019s about $45,000 annually for a single person and about $65,000 for a family of four.<\/p>\n

Sifakis said he expects monthly rents to be about $800 for one-bedroom apartments and about $1,400 for three-bedroom units.<\/p>\n

The projects come as affordable housing has become a growing concern across Jacksonville.<\/p>\n

\u201cIf you look at the polling, affordable housing is the number one issue in Jacksonville now,\u201d Sifakis said. \u201cWe think it\u2019s kind of in JWB\u2019s DNA to help solve this affordable housing crisis. We\u2019ve been doing it in single-family for a while, and this is just taking the next step into larger-scale affordable housing developments.\u201d<\/p>\n

Construction is expected to be completed early next year.<\/p>\n

Copyright 2026 by WJXT News4JAX – All rights reserved.<\/p>\n","protected":false},"excerpt":{"rendered":"JACKSONVILLE, Fla. \u2013 As Jacksonville continues to face a shortage of affordable housing, one local developer is turning…\n","protected":false},"author":3,"featured_media":984979,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5136],"tags":[16547,29397,852,5229,8314,3188,723,7065,7310,67,586,132,5230,68,2969],"class_list":["post-984978","post","type-post","status-publish","format-standard","has-post-thumbnail","category-jacksonville","tag-addressing-a4dability","tag-addressing-affordability","tag-affordable-housing","tag-america","tag-duval-county","tag-fl","tag-florida","tag-housing","tag-jacksonville","tag-united-states","tag-united-states-of-america","tag-unitedstates","tag-unitedstatesofamerica","tag-us","tag-usa"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/117049755372460650","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/984978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=984978"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/984978\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/984979"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=984978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=984978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=984978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}