JACKSONVILLE, Fla. — EBSC Lending has provided a $28.9 million loan to a Denver-based real estate developer for the construction of a five-story, 56-unit multifamily property in Jacksonville, Florida. The project, set to be completed in Q2 2026, aims to deliver modern, high-quality housing while addressing demand in the growing Jacksonville market.

“The borrower is an experienced developer based in Denver, with whom EBSC has worked on previous loan arrangements,” said EBSC Lending CEO Martin Alex.
“This project marks their second development in the Jacksonville market, with two additional sites currently in the entitlement process. We look forward to furthering our relationship with them as they continue to advance their development pipeline.”

Modern Residences with High-End Features

The development will offer a mix of:

🏡 Studio, one-bedroom, and two-bedroom units
🏡 Four designated affordable housing units

Each apartment will be equipped with:

✅ Stainless steel appliances
✅ Quartz countertops
✅ In-unit washers and dryers
✅ Laminate flooring

Exclusive Amenities for Residents

The property will feature premium shared amenities, enhancing residents’ lifestyles with:

🏢 Tenant lounge on the ground floor
🌿 Rooftop deck with a grilling area
💼 Coworking space for remote professionals
🌻 Community garden
🐾 Dog run space
🎉 Club room
🏋️ State-of-the-art fitness center

Strategic Location Near Key Transit & Retail Hubs

Located at the southwest corner of Florida Route 207 and Lightsey Road in St. Augustine, the property is:

📍 Conveniently near Interstate 95
📍 Less than 40 miles southeast of Jacksonville
📍 Two miles from the Dixie Highway retail corridor

A Swift and Strategic Lending Solution

Despite market volatility, EBSC’s creative financing strategy significantly reduced capital costs for the borrower, leading to substantial interest savings.

“We needed to pick up the pieces quickly. Given our history of executed loans, we were able to step in after the original lender pulled out of the deal within a week of the scheduled close and were able to get this across the finish line in 28 days,” said EBSC Special Assets Vice President David Palmer.

With EBSC’s support, the developer’s Jacksonville expansion continues, with two more sites currently in the entitlement process. This project reinforces EBSC’s commitment to funding high-quality multifamily developments, ensuring both affordability and luxury in Florida’s competitive housing market.

Originally reported by World Construction Network.