Jacksonville, Fla. (Dec. 14, 2023) – The Jacksonville Transportation Authority (JTA) Board of Directors has agreed for JTA to enter negotiations for long-term ground leases with Corner Lot Development Group and Gateway Jax to develop multifamily Transit-Oriented Development projects in Downtown Jacksonville.
Montana Avenue and Manning Street
Building upon the success of the $93 million ARTEA development with Corner Lot Development Group that broke ground in April earlier this year, The JTA Board of Directors approved the JTA's Real Estate Team to enter negotiations with Corner Lot for a 99-year lease on a parcel located on the intersection of Montana Ave. and Manning St. on the Downtown Southbank. Corner Lot staff envisions a 136-unit multifamily development with potential commercial and recreational improvements. The development will also include workforce housing with units offered at 80% of the area median income. The development benefits from using the adjacent JTA Kings Avenue Parking Garage for resident parking, foregoing traditional on-site parking while creating a source of revenue for the JTA that will be utilized for future transportation initiatives.
"Corner Lot is excited to continue being a partner with JTA on creative transit-oriented development projects. While our city continues to grow, having partnerships in place to create opportunities for people to live in and around the urban core with access to a diverse transportation network gives our city a competitive advantage over others," said Andy Allen, CEO of Corner Lot. "JTA has continued to provide for the City of Jacksonville's residents and visitors through innovation, collaboration, and commitment to making our city live up to its full potential. As a private development company, we say job well done and thank you."
Rosa Parks
The collaboration with Gateway Jax, along with their financial partners JWB Real Estate Capital and DLP Capital, on a 99-year lease on the eastern portion of the Rosa Parks Skyway Station downtown, is planned to be a multifamily development with no less than 250 units. This development leverages the developer's ownership of an 800-space parking garage across the street, serving both transit station customers and future residents. Committed to supporting the City of Jacksonville's affordable housing goals, the developer proposes maintaining 10% of the apartment units at or below 120% of the Average Median Income (AMI).
"We are committed to the development and continued transformation of Downtown Jacksonville," said Bryan Moll, CEO of Gateway Jax. "A world-class city needs a world-class Downtown, and residential and retail development, especially along existing transit infrastructure, is a key factor in creating the density and vibrancy we all want to see in North Core. This project, adjacent to the Rosa Parks Skyway Station, and within walking distance to Gateway Jax's first phase of development along Pearl Street, will be another exciting step in the right direction. We look forward to adding this multifamily residential project to our portfolio, which will encourage even more families and individuals of all income levels to call Downtown their home."
Both leases demonstrate a shared commitment to supporting the City of Jacksonville's affordable housing goals by dedicating a percentage of the units to affordable housing.
Mill Creek Road
The JTA staff has also recommended donating a roughly 1-acre parcel of land on Mill Creek Road to the North Florida School for Special Education.
"The Jacksonville Transportation Authority is steadfast in our mission to enrich the urban fabric of Jacksonville's communities through transformative transit-oriented developments," said JTA CEO Nathaniel P. Ford. Sr. "Our latest collaborations with Corner Lot Development Group and Gateway Jax underscore our dedication to advancing mobility in our city and ensuring accessible and affordable housing for our community. Our vision is to see Jacksonville evolve into a city where affordable living and efficient transportation coalesce, making it a model for urban development. We are proud to be at the forefront of this journey, as together, we work to make Jacksonville a more vibrant, and connected city for all its residents."
Bowden Road
Additionally, the JTA Board approved entering into property sales negotiations with Jake Haman and Alisa Hogard for a Culver's Restaurant Franchise, which offered 1.6 million dollars to purchase the JTA-owned property on Bowden Road. The JTA originally acquired this surplus property as part of the Bus Rapid Transit (BRT) Southeast Corridor University Hub project. The site is intended to be used as a new Culver's franchise location.
The lease and sale of the three parcels are a part of JTA's comprehensive strategy to leverage transit-oriented development for community benefit, affordable housing, and sustainable urban growth. With these projects, the JTA plays a pivotal role in transforming Jacksonville's urban landscape into a more connected, livable, and vibrant city.
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About the Jacksonville Transportation Authority (JTA)
The Jacksonville Transportation Authority (JTA) is an independent state agency serving Jacksonville, Florida, and Northeast Florida with multi-modal responsibilities. The JTA provides various mass public transit services and builds roads, bridges, and other infrastructure to enhance mobility in Jacksonville. Public transportation services include BRT and regular bus service, paratransit, the St. Johns River Ferry, Skyway APM, and other mobility and on-demand services in Duval, Clay, Baker, Nassau and St. Johns counties. To learn more, visit www.jtafla.com.
About Gateway Jax
Gateway Jax is a Jacksonville-based investment and development firm, created and sponsored by JWB Real Estate Capital and DLP Capital. Founded in 2022, its leadership brings decades of experience in urban real estate development across North America, focusing on developing dynamic, interconnected, and vibrant projects in walkable, mixed-use environments.
Gateway Jax is committed to working in collaboration with residents and communities to build future-forward ways of working, living and playing. Learn more at gatewayjax.com.
About Corner Lot
Corner Lot is the leading independent, privately-owned real estate development firm in North Florida with business lines that include residential, commercial, multifamily, urban, and hospitality development, as well as single-family home construction. Corner Lot’s mission is to foster quality, sustainable development for future businesses and residents, expand the markets of Central and North Florida with vision and leadership, and foster a foundation of long-term partnerships in investment, development, management, and financing. Learn more at https://www.cornerlotdevelopment.com/