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Chance Partners, LLC, and EJF Capital, LLC, will develop three building, 295-unit multifamily community in the St. Nicholas neighborhood of Jacksonville.

Chance Partners, EJF Capital to Build 295-Unit Multifamily in Jacksonville OZ

Jacksonville, FL-based Chance Partners, LLC, and Arlington, VA-based EJF Capital, LLC, will develop a three-building, 295-unit multifamily community in the St. Nicholas neighborhood of Jacksonville.

The project, Southgate, is in an area certified as a Qualified Opportunity Zone under the Tax Cuts and Jobs Act of 2017, which offers investors potential attractive tax benefits to invest in designed areas in order to create economic growth in lower income areas.

The project consists of two parcels totaling 9.49 acres and will be developed with three multifamily buildings each with four stories surrounded by a surface parking lot providing over 400 parking spaces. Initial delivery of Southgate is anticipated in the fourth quarter of 2023.

The project is EJF and Chance’s fifth in the Jacksonville market and will benefit the infill St. Nicholas and San Marco neighborhoods by adding workforce housing for hundreds of residents.


Inside The Story

EJF Capital, LLC

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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