JV to Open Jacksonville Apartments

By D.C. Stribling

Atlanta-based TriBridge Residential, in partnership with Miami-based Sefira Capital, is preparing to open The Jaxon, a 287-unit community in Town Center Promenade at 4450 Tropea Way in Jacksonville, Fla. The property, which will be available to renters this summer, is across from St. Johns Town Center, an outdoor lifestyle mall.

The Jaxon will offer luxury studios, one-, two-, and there-bedroom units, each with granite countertops, built-in Bluetooth speakers, and custom finishes. Common amenities will include a pool with cabanas and rain curtain, a party porch, dog park, dog wash station and 24-hour package system, including refrigerated storage.

TriBridge Residential is no stranger to the Jacksonville area, having developed several projects in the market in recent years, such as the Uptown project in St. Johns Town Center, as well as the BluWater Apartments, Seagrass Apartments and Cottage at North Beach. The company owns and manages about 7,000 multifamily units in the Southeast.

Jacksonville Is a Growth Market

Jacksonville has enjoyed steady job growth in recent years, and along with a moderate amount of new apartments deliveries, factors that have conspired to keep rent growth higher than the national average, according to Axiometrics. The Jacksonville metro area experienced 5.3 percent annual effective rent growth in 2017, putting it in fifth place among major markets in that metric, the company reported.

The Census Bureau estimated that Jacksonville’s population totaled 913,010 at the end of 2017, or 3.7 percent higher than a year earlier. The city’s population has grown 11.1 percent since the 2010 Census.