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Madison Capital Helming $60M St. Johns County Rental Project
St. Johns County issued permits totaling more than $26.5 million to Benco Construction, the builder for Madison Capital Group’s latest apartment venture. The Jacksonville Business Journal reports construction at the site on 875 State Road 16 is expected to take between 20 to 24 months for the $60 million project.
Named Madison Seagrass, the 234-unit multifamily community will include one-, two- and three-bedroom floor plans. 40% of its units will be designated as attainable housing for households earning between 80% and 120% of the Area Median Income.
The permits issued this week outline six multifamily buildings in the development, a clubhouse plus three garages.
The other Madison Communities development in the area is Madison Fountains, a 276-unit apartment community at 75 Teigan Trail near County Road 210. It opened last year.
- ◦Development
