Two South Florida Developers Set to Build Their First Jacksonville Community

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Hey Jacksonville residents, big news on the horizon! Two South Florida developers, MAS Development and Agador Spartacus, are joining forces to bring a brand-new community to our neck of the woods. If you’re curious about what’s coming near Cecil Commerce Center, here’s the detail.

What’s Happening?

MAS Development and Agador Spartacus are gearing up to break ground on their first project in Northeast Florida, and it’s set to be a game-changer. The project, named Magnolia Villas at Jacksonville, will feature a 100-unit build-to-rent community. Think of it as a mix of two-story townhomes and walk-up flats that’ll cater to long-term renters, specifically those earning between 100% and 120% of the Area Median Income.

But don’t worry—this isn’t just another development with sky-high rents. According to Nico Chami, MAS’s Director of Acquisitions, they’re not looking to maximize rents. Instead, they’re focused on providing quality housing that’s accessible to the workforce in our area. It’s a refreshing approach, especially in a market where affordability can sometimes feel like a distant dream.

What Can Residents Expect?

Magnolia Villas won’t just be about places to live; it’s about living well. The developers are planning some pretty sweet amenities to make the community stand out. Residents can look forward to a pool, cabanas, gazebos, barbecue areas, and a clubhouse complete with workstations, a gym, a yoga room, pool tables, and even a kitchen for events. It’s the kind of place that’s perfect for both relaxing and staying active.

Why Jacksonville?

You might be wondering, why did these South Florida developers set their sights on Jacksonville? It turns out, the area’s growth and economic opportunities were big draws. The site at 10505 103rd St., near Cecil Airport and an Amazon facility, caught their attention thanks to the booming population and job opportunities in West Jacksonville. It’s a smart move, considering the demand for housing in areas where people can live close to where they work.

What’s Next?

Full permitting approvals for Magnolia Villas are expected by mid-September, and if all goes according to plan, construction could kick off as soon as October or November. Agador Spartacus will be handling the construction phase, and given their track record across Florida, it’s safe to say we can expect great things.

But this isn’t just a one-off project. MAS Development is making it clear that they’re here to stay. They’ve just launched their largest fund yet and are actively looking for more deals in Northeast Florida. According to Chami, they’re already working on a few other projects in the area that are still in the early stages. So, it looks like we can expect more developments like Magnolia Villas in the future.

So, what do you think, Jacksonville? Are you excited about the new Magnolia Villas community coming to town? With all the amenities and the focus on affordability, it’s shaping up to be a fantastic addition to the area. Keep an eye out for updates, and get ready to welcome some new neighbors in the not-too-distant future!