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Apr. 20, 2016

Last Year’s Largest Apartment Developments in Jacksonville

Jacksonville, Fla.—Development activity in Jacksonville is on the rise, at least as far as apartment construction in The River City is concerned. Last year eight new rental projects with more than 50 units came online, bringing 2,006 new apartments to the market. By comparison, only 1,531 new units were added in the previous year, according to Yardi Matrix.

The average monthly rent for apartments in Jacksonville is currently at $917, with units completed since 2010 commanding $1,269 on average.

Sorrel Luxury Apartments

Pegasus Residential’s new project focuses more on young and larger families with a larger proportion of two- and three- bedroom apartments—132 and 41, respectively— and “just” 117 one-bed units. Just like at 220 Riverside and Gran Bay at Flagler Center, residents have access to a saltwater pool. The three-story buildings include parking on the first floors—a total of 638 parking spaces are available on site.

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