SouthEast Development Group Adds 300 Multifamily Units to Riverfront Jacksonville Master Plan

  • by Nick Swantek
  • July 13, 2021
  • 878 views

July 13, 2021 — Jacksonville, Fla. — SouthEast Development Group today announced an update to its Riverfront Jacksonville master plan to include 300 additional multifamily units.

Buildings Four and Five of the master plan have been redesigned to include 255 market-rate multifamily apartments, along with 45 condominium units for sale. The buildings will also feature a combined 17,250 square feet of ground-level retail, creating more programmed activities in and around the 15 acres of public park and plaza spaces with resiliency infrastructure outlined in the plan.

With this change, the total number of multifamily units in the Riverfront Jacksonville increases to 1,005 — providing residential lifestyle opportunities to the full spectrum of the Downtown market, from workforce apartments to luxury condominium products.

“Since we debuted the Riverfront Jacksonville vision plan on June 1, we have received overwhelmingly positive feedback from the community, as well as our peers in the commercial real estate and development industries,” said Steve Atkins, Principal and Managing Director of SouthEast Development Group. “As a result of many conversations with our financial team and prospective partners within the multifamily real estate sector, we are confident that increasing the number of housing units is the right decision to bring much-needed density to Downtown Jacksonville.”

SouthEast Development Group will continue to collaborate with the Riverfront Jacksonville project team, Goldman Sachs, Piper Sandler & Co., the City of Jacksonville and the Downtown Investment Authority in preparation for a formal proposal presentation later this summer. The transformative development will serve the community as a comprehensive master planned program that includes expansive public park spaces, new housing and hospitality products, entertainment, restaurant and retail activities at the most critical location in Downtown Jacksonville.

Learn more about Southeast’s Riverfront Jacksonville Master Plan

About SouthEast Development Group:

SouthEast Development Group, LLC (SouthEast) is a commercial real estate firm based in Jacksonville, Florida providing full development services, project management and asset management across the southeastern region of the United States. Southeast is a 2012 merger of four companies with operations dating back to 1987; Atkins Group, Inc, AGI Equities, Dav-Lin Construction Company and Linea, LLC. Today, the company specializes in integrated design-build of new construction, preservation and adaptive reuse programs, with a collective portfolio of projects from the Carolinas to South Florida of over $750 million. With a current focus on urban development, SouthEast is committed to the delivery of sustainable real estate assets providing long-term viability and added value to the community. SouthEast Community Investment Fund, LLC is certified by the Community Development Financial Institutions Fund (CDFI Fund) of the U.S. Department of the Treasury to serve the Northeast Florida/Jacksonville MSA, including Duval, Clay, St. Johns, Nassau and Baker Counties.

SouthEast is one of the only active Community Development Entities (CDE) in the region, positioned to provide “community-centric” planned developments, with targeted investments from state and federal tax credits, federal subsidies and public-private partnerships. Since 2013, SouthEast has secured over $50 million in tax credit investments for new real estate developments and related businesses.

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