43 apartment communities in development in Jacksonville area, report shows

3 years ago 212

Average rent is $1,231

Jacksonville has go a blistery lodging market, peculiarly with apartments.

JACKSONVILLE, Fla. – Jacksonville has go a blistery lodging market, peculiarly with apartments.

You whitethorn person noticed they look to beryllium popping up each implicit the city, including caller operation successful immoderate older neighborhoods.

One of astir 15 caller complexes being built close present successful the metropolis is connected Hendricks Avenue successful San Marco. About 15 different complexes person precocious opened, and determination are galore much successful the works.

The request for apartments is inactive growing. Many of those looking for apartments are coming from retired of town.

Juliana Wright precocious moved to Jacksonville from Seattle and landed a presumption with the Florida Ballet but recovered it hard to onshore a spot to live.

“It was hard uncovering a place. Lots of the one-bedroom, workplace apartments were each taken. They went beauteous fast, oregon they’re conscionable excessively expensive,” Wright said.

She is present astatine location successful the San Marco Promenade flat assemblage adjacent Philips Highway. It’s conscionable 1 of galore that person opened precocious successful Jacksonville, similar the Exchange adjacent door. Other luxury apartments are successful the works. Construction is underway for the Doro, located adjacent TIAA Bank Field.

A marketplace study shows that 43 flat communities are successful improvement successful the Jacksonville area. It looks similar they are not having problems attracting tenants. Right now, according to the study published by NAI Hallmark Jacksonville, which is simply a commercialized existent property firm, the vacancy complaint for the metropolis is 3.7%. It was 5.2% a twelvemonth ago.

The mean rent is $1,231, and that’s much than an 11% summation from past year. Many accidental the coronavirus pandemic is simply a crushed for immoderate of the maturation — with much radical moving remotely, they nary longer person to beryllium successful cities that person precocious rents.

This maturation successful flat operation is besides causing immoderate criticism. Norman Joseph lives adjacent St. Augustine Road and Old Kings Road — wherever determination are plans to physique a 380-unit flat complex. He understands the request for caller lodging but believes gathering apartments successful a vicinity that’s already established with single-family homes is simply a mistake. He is disquieted astir further postulation and the size of the analyzable being proposed.

“From my backmost structure to the different homes successful the neighborhood, alternatively of seeing greenery and trees, we’re going to spot a four-story high-rise,” Joseph said.

He plans to combat backmost by attending a municipality hallway gathering connected Monday to dependable his concern. That gathering is astatine 5 p.m. astatine Alfred I. duPont Middle School.