Good News for Jacksonville: A Surge in Affordable Housing Jacksonville residents are finding it increasingly easier to secure safe and affordable housing, thanks to the efforts of local developer Vestcor. The company is spearheading a wave of new multifamily developments specifically designed to address the city's growing need for accessible housing. Founded in 1983, Vestcor has evolved into one of Florida's largest developers. Their commitment to exceeding expectations, a core value shared by residents, investors, and employees, is evident in their dedication to providing high-quality, affordable housing options for the Jacksonville community. Vestcor's journey began in 1981 when founder John Rood moved to Jacksonville with a vision for a real estate business focused on rental homes. After purchasing eleven single-family homes and selling multifamily communities to out-of-state syndicators for two years, Rood identified an opportunity to enhance property management and investor communication through a local general partner. This insight led to the founding of Vestcor in 1983.

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Vestcor's Impact on Jacksonville: Since its inception, Vestcor has significantly contributed to Jacksonville's housing landscape. Their portfolio includes a diverse range of projects, from affordable workforce housing to historic rehabilitations and specialized developments serving vulnerable populations. Vestcor Affordable Housing projects already built in Jacksonville include:

-Lofts at Brooklyn 133 units completed in 2021 at 1420 N. Hogan St., Jacksonville, FL -Lofts at Jefferson Station 133 units completed in 2020 at 1128 W. 20th St., Jacksonville, FL -Lofts at LaVilla 130 units completed in 2018 at 829 W. Duval St., Jacksonville, FL -Lofts at Monroe 108 units completed in 2018 at 906 W. Monroe St., Jacksonville, Fl. -Lofts at Murray Hill 117 units completed in 2021 at 840 Edgewood Ave S, Jacksonville, FL-Peyton Ridge 123 units completed in 2016 at 1800 Corporate Square Blvd, Jacksonville, FL-Sydney Trace 192 units completed in 2021 at 8575 Merchants Way, Jacksonville, FL 


Vestcor Senior Living projects in Jacksonville include: -Caroline Oaks Apartments 82 units completed in 2015 at 5175 N. Main St., Jacksonville, FL. -Mary Eaves consists of 80 units completed in 2017 at 1250 W 16th St, Jacksonville, FL Vestcor Historic Preservation involved projects by Vestcor in Jacksonville include 11 East Forsyth and the Carling Hotel. -The Carling project, originally the Carling Hotel built in 1926 and renamed the Hotel Roosevelt was closed after a fire in 1963 and renovated into 100 units by Vestcor in 2005 and listed on the National Register of Historic Buildings. The Carling address is 319 W. Monroe St., Jacksonville, FL -11 East Forsyth project formerly known as the Lynch building and one of the first seven skyscrapers built in the 1926 Florida land boom was renovated by Vestcor into 127 classically designed apartment units in 2003.  Vestcor Community Partnerships include with non-profit organizations and housing authorities to create specialized housing for individuals with intellectual and developmental disabilities, the homeless, and low-income seniors. Examples include ARC Village, Centennial Towers, Sulzbacher Village, and The Waves. -ARC Village owned by ARC Jacksonville includes 122 units completed in 2016 at 1311 Cassat Ave., Jacksonville, FL. -Centennial Towers owned by Jacksonville Housing Authority features 208 units completed in 2022 at 230 E 1st St, Jacksonville, FL -Sulzbacher Village owned by I.M. Sulzbacher Center consists of 70 units completed in 2018 at 5455 Springfield Blvd, Jacksonville, FL. -The Waves owned by Jacksonville Housing Authority includes 127 unit completed in 2020 at 704 5th Avenue S, Jacksonville, Beach. Vestcor Education Construction: In 2019, Vestcor established the Jacksonville Classical Academy, a tuition-free public charter school, demonstrating its commitment to the community's overall well-being. The Jacksonville Classical Academy address is 1515 N. Pearl St., Jacksonville, FL

Current and Upcoming Vestcor Affordable Housing Projects include:

-Lofts at San Marco East: Offering 172 units for residents earning 60% or less of the area's median income, this development is already experiencing strong demand. Lofts at San Marco East address is 3036 Philips HwyJacksonville, FL. 

-Lofts at Cathedral: This mixed-income project provides 120 units with a range of affordability levels, from market rate to 30% of the area's median income. Lofts at Cathedral address is 325 E Duval St, Jacksonville, FL. 

-Gavin Point Apartments: Construction is in progress for this 105-unit complex on the city's Southside at 4025 Salisbury Rd., Jacksonville, Fl

-Madison Palms: This 240-unit development on Merrill Road is nearing completion, with leasing set to begin in mid-August at 8300 Merrill Rd., Jacksonville, FL.

-Sulzbacher Enterprise Village: A joint venture with the I.M. Sulzbacher Center, this $46 million project will offer 100 affordable housing units and healthcare services. The facility is expected to take three years to build and located on 16.8 acres approximately 2,800' north of the Intersection of Golfair Blvd & Walgreen Rd in Jacksonville, FL.​

Vestcor's extensive portfolio and ongoing developments position the company as a leader in providing innovative affordable housing, and senior living solutions for Jacksonville residents. For service after the sale Vestcor has partnered with WRH Realty Services for management services at these properties. By creating a diverse range of housing options across the city, Vestcor is helping to ensure that more people have access to safe and affordable homes while building a community we can all enjoy.