Lofts at Jefferson Station coming to LaVilla
(https://photos.smugmug.com/Cities/Jacksonville/Development/Lofts-at-Jefferson-Station/i-KLhCCXk/0/56f2019a/L/20180315_DDRB%20Agenda%20Packet_Page_50-L.jpg)
Fresh off the successful opening of Lofts at LaVilla and the groundbreaking of Lofts at Monroe, The Vestcor Companies (TVC) is gearing up for a third infill multifamily project in LaVilla: The Lofts at Jefferson Station
Read More: https://www.metrojacksonville.com/article/2018-mar-lofts-at-jefferson-station-coming-to-lavilla
No ground floor retail? Hmm...
No, Vestcor mentioned they don't do ground floor retail with their projects. I personally don't believe it's a big deal as long as the ground floor is designed to accommodate the possibility at a later date. It's also in the middle of a superblock with limited visibility. Also given the proximity of the site to McCoys Creek and flooding experienced during Irma, it may make sense for buildings in that area to be designed on stilts.
I was also under the impression that this project would extend east to Jefferson but it doesn't. Frontage and visibility on Jefferson at Bay and Water is where some limited amount of retail would be most logical. That opportunity doesn't appear to be lost with this project.
Quote from: thelakelander on March 14, 2018, 09:37:14 AM
No, Vestcor mentioned they don't do ground floor retail with their projects. I personally don't believe it's a big deal as long as the ground floor is designed to accommodate the possibility at a later date. It's also in the middle of a superblock with limited visibility. Also given the proximity of the site to McCoys Creek and flooding experienced during Irma, it may make sense for buildings in that area to be designed on stilts.
I was also under the impression that this project would extend east to Jefferson but it doesn't. Frontage and visibility on Jefferson at Bay and Water is where some limited amount of retail would be most logical. That opportunity doesn't appear to be lost with this project.
I mean, if you have the JTA Hub and a train station eventually at the Prime along with other event space, Water St. would hopefully be a little more lively soon. I would love to see some coordination between FSCJ, UNF with its new downtown center, to get some students living out there who can ride the Skyway in. All in all, I do hope there are some projects that can be built on the northbank soon without federal assistance.
The JTA transit hub includes a retail component. Whenever the train station becomes a train station again, without a doubt there will be retail included. The orginal station included retail and dining and anything in the future would not need the type of capacity the original station was designed to handle. So most of its square footage would need to go to something else.
Quote from: thelakelander on March 14, 2018, 09:37:14 AM
No, Vestcor mentioned they don't do ground floor retail with their projects. I personally don't believe it's a big deal as long as the ground floor is designed to accommodate the possibility at a later date. It's also in the middle of a superblock with limited visibility. Also given the proximity of the site to McCoys Creek and flooding experienced during Irma, it may make sense for buildings in that area to be designed on stilts.
I was also under the impression that this project would extend east to Jefferson but it doesn't. Frontage and visibility on Jefferson at Bay and Water is where some limited amount of retail would be most logical. That opportunity doesn't appear to be lost with this project.
In particular, it would be VERY difficult to create walk-ability on the side facing the Federal Reserve building. It obviously isn't going anywhere any time soon.
Is any of this LOFT concept being built by Vestcor in LaVilla true "market rate" apartments such as 11E or The Carling?
Looks like most of it is below market "affordable housing" or "workforce housing."
Depends on your definition of what market rate is. If you want pricing that the market will support, head across the creek to Brooklyn Riverside and 220 Riverside. If you want something that most of the local workforce can afford, then you should want more infill development that includes workforce housing.
There are several thousand square feet of retail space in Brooklyn either built or soon to be built directly over the bridge and a five minute walk from the two Jefferson St/Vestcor properties, the second Vestcor property currently being constructed will have retail and the JTA transportation center that is slowly breaking ground will eventually have retail. Additionally, there is an empty ~.5 acre of space (on a heavily trafficked road) directly adjacent to the Lofts at Jefferson where a retail use could(is likely) one day pop up.
Affordable housing is not affordable to build. Requiring the developer to allocate retail space on a superblock will only negatively affect their proforma and increase the overall cost to construct. Oftentimes with heavily subsidized affordable/workforce housing projects like these, requiring the developer to go above and beyond is the difference between increasing the affordable housing supply in a neighbourhood... or ultimately keeping the status quo. Since the total destruction of LaVilla over 25 years ago (a pretty piss poor status quo), perhaps now would be a good time to add a few housing units without putting too many requirements/restrictions to do so. My two cents.
Quote from: vicupstate on March 14, 2018, 09:52:52 AM
In particular, it would be VERY difficult to create walk-ability on the side facing the Federal Reserve building. It obviously isn't going anywhere any time soon.
Such a cool building.
I wonder what it's ultimate fate will be.
I'm really happy to see some affordable and workforce housing.
I assume there will be income limits on who can get these. Do you happen to know what those are?
I'm curious if a first year teacher at LaVilla SOA (single) earning $45,000 (or so) would qualify.
(Maybe I'm off of the starting salary for middle school teacher with a masters might earn).
QuoteOf the 133 apartments, 80 would be considered affordable housing and reserved for people with incomes below 60 percent of Jacksonville's area median income, capped at $51,000 for a family of four.
At its Nov. 29 board meeting, the Jacksonville Housing Finance Authority approved a $225,000 low-interest loan to be paid over 15 years to offset costs for those 80 units.
The other 53 apartments would be workforce housing for those with incomes below 140 percent of the area median income. That cap is $91,000 for a family of four.
Full article: https://www.jaxdailyrecord.com/article/ddrb-to-examine-lofts-of-jefferson-station-apartments-new-sign-for-greyhound
Thanks Lake! Sorry 'bout those Canes by the way.
How 'bout them NOLES!!!!
Quote from: MusicMan on March 14, 2018, 05:58:21 PM
I assume there will be income limits on who can get these. Do you happen to know what those are?
I'm curious if a first year teacher at LaVilla SOA (single) earning $45,000 (or so) would qualify.
(Maybe I'm off of the starting salary for middle school teacher with a masters might earn).
Almost no starting teachers have a master's degree. That usually doesn't come until 8-10 years into the profession.
What is base salary for Duval County Middle School teacher?
Same teacher with a Masters plus 10 years in system?
Starting salary is $40,300. With a Master's degree and 10 years experience it is roughly $50,000.
https://dcps.duvalschools.org/site/handlers/filedownload.ashx?moduleinstanceid=33769&dataid=41847&FileName=2016-2017%20Salary%20Schedule%20-%20final%20updated%20092517.pdf (https://dcps.duvalschools.org/site/handlers/filedownload.ashx?moduleinstanceid=33769&dataid=41847&FileName=2016-2017%20Salary%20Schedule%20-%20final%20updated%20092517.pdf)
So as long as the teacher's household income for a family of four does not exceed $91,000, they'd qualify to stay at the Lofts of LaVilla.
Quote from: thelakelander on March 14, 2018, 09:49:15 PM
QuoteOf the 133 apartments, 80 would be considered affordable housing and reserved for people with incomes below 60 percent of Jacksonville's area median income, capped at $51,000 for a family of four.
At its Nov. 29 board meeting, the Jacksonville Housing Finance Authority approved a $225,000 low-interest loan to be paid over 15 years to offset costs for those 80 units.
The other 53 apartments would be workforce housing for those with incomes below 140 percent of the area median income. That cap is $91,000 for a family of four.
Full article: https://www.jaxdailyrecord.com/article/ddrb-to-examine-lofts-of-jefferson-station-apartments-new-sign-for-greyhound
What is the cap for a single person?
Quote from: FlaBoy on March 19, 2018, 12:49:53 PM
Quote from: thelakelander on March 14, 2018, 09:49:15 PM
QuoteOf the 133 apartments, 80 would be considered affordable housing and reserved for people with incomes below 60 percent of Jacksonville's area median income, capped at $51,000 for a family of four.
At its Nov. 29 board meeting, the Jacksonville Housing Finance Authority approved a $225,000 low-interest loan to be paid over 15 years to offset costs for those 80 units.
The other 53 apartments would be workforce housing for those with incomes below 140 percent of the area median income. That cap is $91,000 for a family of four.
Full article: https://www.jaxdailyrecord.com/article/ddrb-to-examine-lofts-of-jefferson-station-apartments-new-sign-for-greyhound
What is the cap for a single person?
http://www.floridahousing.org/docs/default-source/developers-and-property-managers/compliance/limits/income-limits/001-2017_combined_income_limits_-_rent_limits_by_county_-_fhfc_rental_programs_4-14-2017.pdf?sfvrsn=2
Looks like a little over 63k for a single person household.
Quote from: thelakelander on March 19, 2018, 04:37:05 PM
Looks like a little over 63k for a single person household.
Actually Lake, that is 140% of the AMI for a 1 person household. That amount is the maximum someone could make in subsequent years after move-in and still be considered a qualified tax credit unit.
This project is a 40/60 set aside - meaning at least 40% of the units must house families with incomes at less than or equal to 60% of AMI (At move-in).
$27,060 is the maximum a 1 person household could earn and be eligible at move-in.
Quote from: Gators312 on March 19, 2018, 05:27:31 PM
Quote from: thelakelander on March 19, 2018, 04:37:05 PM
Looks like a little over 63k for a single person household.
Actually Lake, that is 140% of the AMI for a 1 person household. That amount is the maximum someone could make in subsequent years after move-in and still be considered a qualified tax credit unit.
This project is a 40/60 set aside - meaning at least 40% of the units must house families with incomes at less than or equal to 60% of AMI (At move-in).
$27,060 is the maximum a 1 person household could earn and be eligible at move-in.
Yeah, that is what this link shows:
https://www.apartmentfinder.com/Florida/Jacksonville-Apartments/Lofts-At-Lavilla-Apartments-8pmvk43
My bad. I quickly glanced at the chart through my cell and didn't read the rest of it.
This would be a great place for FSCJ to work with in maybe sending some of their students to live at or other educational institutions down the line who would make less than 27k.