{"id":144995,"date":"2026-02-05T18:04:07","date_gmt":"2026-02-05T18:04:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/144995\/"},"modified":"2026-02-05T18:04:07","modified_gmt":"2026-02-05T18:04:07","slug":"new-housing-community-will-serve-missing-middle","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/144995\/","title":{"rendered":"New housing community will serve &#8216;missing middle&#8217;"},"content":{"rendered":"<p>Housing Trust Group LLC, a Miami-based developer of affordable and market-rate residential communities, is expanding its presence in Northeast Florida.<\/p>\n<p>The developer is behind Bryce Landing, a 96-unit <a href=\"https:\/\/jaxtoday.org\/2026\/01\/29\/veterans-homes-jacksonville\/\" rel=\"nofollow noopener\" target=\"_blank\">affordable housing<\/a> property in Middleburg, and is working on\u00a0<a href=\"https:\/\/www.bizjournals.com\/jacksonville\/news\/2025\/09\/10\/duval-212-passes-unanimously-at-city-council.html\" rel=\"nofollow noopener\" target=\"_blank\">Duval 212<\/a>, an 85-unit mixed-income community that will be in the Cathedral Hill District of Downtown.<\/p>\n<p>In addition to those two properties, Housing Trust Group is developing a third concept in the Jacksonville area called Normandy Cove. Normandy Cove will be on the Westside, behind Edward H. White High School.<\/p>\n<p>Normandy Cove will bring 144 units in its first phase and 99 units in a future second phase, for a total of 243 units of housing.<\/p>\n<p>Similar to Duval 212, Normandy Cove will have housing for a mix of incomes. Twenty-two units will be set aside for residents at 30% of the area median income. Fifty-six units will be set aside for people earning 60% of the area median income and 70 units for 80% of the AMI.<\/p>\n<p>In addition, 72 units will be set aside for veterans, and 50% of the units will be held for active duty service members.<\/p>\n<p>Jason Larson, senior vice president of development for Housing Trust Group, spoke to the\u00a0Jacksonville Business Journal\u00a0about the development. He said topping the AMI threshold for the property at 80% AMI gives the developer the opportunity to serve people who are active duty enlisted.<\/p>\n<p>\u201cA lot of times, one of the problems there is that between active duty pay and your housing allowance it can put you over income for most of the affordable housing that\u2019s in Jacksonville,\u201d Larson said. \u201cMost of the affordable housing in Jacksonville has developed up to the 60% AMI income limit. \u2026 This is an opportunity to do some units that will serve those folks, what you might call the missing middle, between 60 and 80% AMI.\u201d<\/p>\n<p><img data-dominant-color=\"647271\" data-has-transparency=\"false\" style=\"--dominant-color: #647271;\" fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"575\" src=\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2026\/02\/normandy-coveclubhouse-copy.jpg\" alt=\"\" class=\"wp-image-108950 not-transparent\"  \/>A rendering of the clubhouse and pool area for Normandy Cove. | Housing Trust Group<\/p>\n<p>Normandy Cove has a construction cost of $48 million but will be worth only $25 million once it is listed, with the restricted rents.<\/p>\n<p>Gap funding and grants from the government are crucial to make affordable housing developments possible. Larson said Housing Trust Group has used a 4% low-income housing tax credit from the government and a\u00a0<a href=\"https:\/\/www.bizjournals.com\/jacksonville\/organization\/freddie-mac\" rel=\"nofollow noopener\" target=\"_blank\">Freddie Mac<\/a>\u00a0permanent loan, through Key Bank, to help fund Normandy Cove.<\/p>\n<p>The development also has received about $2 million in funding from the city of Jacksonville and the Jacksonville Housing Finance Authority.<\/p>\n<p>Since the development is behind Edward H. White High School, Larson said the project has garnered support from the Duval County School Board. Housing Trust Group was granted an easement for the road that the development will share with the school and will make improvements to it.<\/p>\n<p>Larson said the developer is \u201cworking to do more in Jacksonville\u201d as financing allows.<\/p>\n<p>He also lamented that the product Housing Trust Group delivers is the same, regardless of the rental rate.<\/p>\n<p>\u201cThere\u2019s really no difference between our developments and market-rate developments, but it allows it for a rental rate that is less than the market rate,\u201d Larson said.<\/p>\n<p>Housing Trust Group plans to break ground on Normandy Cove in March.<\/p>\n","protected":false},"excerpt":{"rendered":"Housing Trust Group LLC, a Miami-based developer of affordable and market-rate residential communities, is expanding its presence in&hellip;\n","protected":false},"author":2,"featured_media":144996,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[116,118,117],"class_list":{"0":"post-144995","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-jacksonville","8":"tag-jacksonville","9":"tag-jacksonville-headlines","10":"tag-jacksonville-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/144995","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=144995"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/144995\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/144996"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=144995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=144995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=144995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}