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EJF Capital and Chance Partners make fifth multifamily development in the Jacksonville Market
Transactions - MARCH 7, 2022

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EJF Capital and Chance Partners make fifth multifamily development in the Jacksonville Market

by Released

EJF Capital (EJF) and Chance Partners have plans to develop Southgate, a three-building, 295-unit multifamily community in the St. Nicholas neighborhood of Jacksonville, Fla.

The project is in an area certified as a Qualified Opportunity Zone under the Tax Cuts and Jobs Act of 2017 (TCJA).

The project consists of two parcels totaling 9.49 acres and will be developed with three multifamily buildings, each four stories surrounded by a surface parking lot providing more than 400 parking spaces. Southgate will feature the latest fixtures, finishes and modern amenities in the home and communal spaces. Integrated smart-home technology provides keyless entry, Wi-Fi thermostats, 1G high-speed internet, along with access control to buildings, garages and all homes. A robust resident amenity package will include co-working spaces, indoor and outdoor social areas, resort-inspired pool and sundeck, 24/7 fitness center, dog park and pet spa, and walking trails. Initial delivery of

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