SouthEast Development Group Adds Multifamily to $165M Jacksonville Project
SouthEast Development Group is expanding its Laura Street Trio development plan to include 166 units of mixed-income multifamily housing. The addition brings the project’s total square footage to 250,000, at an estimated cost of $165 million.
Twenty percent of the units will be offered as workforce housing for tenants earning up to 80% of the area median income. SouthEast Development Group will partner with the Jacksonville Housing Authority to support this critical community-building program.
“When developers recognize the benefits of mixed-income housing, our entire community benefits,” said Dwayne Alexander, CEO of the Jacksonville Housing Authority.
The residential apartments will be housed within an 11-story, 160,000-square-foot building to be built adjacent to the Historic Florida Life Building as a second phase of the development.
Construction will be concurrent with the rehabilitation and adaptive reuse of the Laura Street Trio buildings, which will feature a 142-room Autograph Collection Hotel by Marriott.
- ◦Development