Author Topic: Council may consider plan to defer loans for infill apartment development site  (Read 1218 times)

thelakelander

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City Council member Reggie Gaffney plans to introduce legislation Wednesday to advance a proposal to transform the former YWCA building and surrounding property in the Downtown Cathedral District into apartments.

He attempted to introduce it Tuesday to the council Finance Committee, which took no action on it.

Gaffney intends to introduce the bill this week as an emergency or on a one-cycle basis to allow the city to defer two loans on the 325 E. Duval St. property. It is the lien holder on those loans.

https://www.jaxdailyrecord.com/article/council-may-consider-plan-to-defer-loans-on-community-connections-property
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Kiva

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Four different mortgages, all in default. Sounds like a perfect situation!

MusicMan

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Clear as mud.........


KenFSU

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Property has been sold.

https://www.jaxdailyrecord.com/article/nonprofit-buys-cathedral-district-property

The plan is for between 115 and 120 apartments, with the possibility of retail on the ground floor as well.

Focus will be on workforce housing, similar to what Vestcor is doing in LaVilla.




jagsonville

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I assume if they find a developer they can apply for similar federal housing incentives as the new vestcor apartments in LaVilla. Really impressed that they were able to purchase the property in the first place.