Building is underway to construct a brand new multifamily condominium neighborhood offering workforce housing in downtown Jacksonville.
The Lofts at Cathedral at 325 and 327 E. Duval St., will embrace a complete of 120 residences. The undertaking requires the renovation of the historic former YWCA/Group Connections constructing plus the development of a brand new condominium constructing on the identical block, in response to developer The Vestcor Firms of Jacksonville.
The YWCA/Group Connections constructing might be reworked into 28 residences. A further 92 items might be situated in a separate constructing beneath development close by, Holly Hepler, advertising and marketing supervisor for Vestcor, informed the Instances-Union. There might be 20 studio residences, 74 one-bedroom, one-bathroom items plus 26 two-bed, two-bath residences.
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“Lofts at Cathedral is a workforce housing neighborhood with 84 items reserved for people who make lower than 80% of the realm median earnings or beneath, and 36 items are at 100% of the realm median earnings or beneath, Hepler stated.
Hepler stated facilities at The Lofts at Cathedral will embrace a health middle, Web cafe, resident lounge and a neighborhood backyard.
The full growth price is estimated at $39 million, in response to the Downtown Funding Authority.
Vestcor makes a speciality of multifamily and workforce housing. The Lofts at Cathedral will be part of the developer’s related condominium communities together with Lofts at Monroe, Lofts at LaVilla, Lofts at Jefferson Station and Lofts at Brooklyn —all in Jacksonville.
Inbuilt September 1950, the previous Group Connections/YWCA constructing was “a haven for small-town ladies within the large metropolis,” in response to a 2016 Instances-Union article.
The four-story red-brick constructing has a basement, spacious foyer, TV room, laundry room, train machines and a cafeteria, which was later changed with a kitchen on every ground, the article states.
Group Connections closed there in 2016. The Jacksonville Historic Preservation Fee designated the constructing a historic landmark in 2017.
New lease on life
“The renovation of the YWCA constructing will remodel a dilapidated constructing right into a superbly restored constructing with the historic design and options integrated,” stated Hepler. “Most significantly, Lofts at Cathedral offers the chance for these working downtown to have the ability to stay affordably downtown.”
Vestcor, through its affiliate VC Cathedral LLC, purchased the property in two transactions recorded in 2019 and 2020, Duval County property and courtroom information present.
The developer paid $1.38 million for the tract at 327 E. Duval St. in a sale recorded on Sept. 10, 2019, and paid $20,000 for the location at 325 E. Duval St. in a sale recorded on Feb. 17, 2020, in response to the information.
Basic contractor Summit Contracting Group of Jacksonville is main the development. The architect is Group 4 Design, additionally of Jacksonville.
Hepler stated the whole development price is estimated at $27 million.
The undertaking is predicted to be accomplished in Summer season 2024, she stated.
Lofts at Cathedral
- Tackle: 325 and 327 E. Duval St.
- Location: 1.25-acre tract within the Cathedral District of downtown Jacksonville
- Mission overview: Building of a complete 120-unit condominium neighborhood, renovation of the previous YWCA/Group Connections constructing
- Building standing: Web site work is underway
- Projected completion: Summer season 2024
- Estimated whole development price: $27 million
- Complete growth price: $39 million
- Developer: The Vestcor Firms of Jacksonville
- Basic contractor: Summit Contracting Group of Jacksonville
- Architect: Group 4 Design of Jacksonville