EJF Breaks Ground on Jacksonville Multifamily OZ Project

EJF Capital and Chance Partners have broken ground on The Jack on Beach, a multifamily project that will consist of four buildings and a total of 295 units in Jacksonville, Florida. The Jack will be developed on a nearly 10 acre site and will include three buildings, each of which will have four floors of apartments.

Amenities will include co-working spaces, an outdoor pool and sundeck, fitness center, dog park, and a bike pavilion. The development will also include approximately 400 parking spaces.

“The Jack is another transformative project in an Opportunity Zone that will meet strong demand for housing in the rapidly growing Jacksonville market,” said EJF Senior Managing Director and Head of Real Estate Development, Asheel Shah. “EJF and Chance Partners see in Jacksonville a market that continues to attract talent from a variety of industries as they grow, ranging from healthcare and aerospace to leisure and hospitality.”

EJF has a number of Opportunity Zone projects in the Jacksonville area, including:

  • The Exchange: 196 unit property
  • Barlow: 290 unit property
  • San Marco Promenade: 284 unit property
  • Eastborough: 226 unit property

Other EJF Opportunity Zone projects include industrial developments in Georgia, Arizona, and Missouri; multifamily buildings in Washington and Tennessee; and a hospitality asset in Oakland, California.

There are 21 Opportunity Zones in Jacksonville; only Miami (23) and Tampa (23) have more among Florida cities.

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