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JV Plans Jacksonville SFR Townhome Community
February 19, 2021
Original article by Jeffrey for MultiHousingNews.com >
PCCP LLC has entered into a joint venture with Freehold Capital Management affiliate 360 Communities to develop a new rental community in Jacksonville, Fla.
Avenues by 360 Communities will be a 180-unit, single-family rental townhome community. The property, featuring two- and three-bedroom townhomes ranging in size from 1,200 to 1,500 square feet, will sprawl across a 70-acre parcel in Southside Jacksonville, an urban enclave 13 miles southeast of the city’s downtown district.
Features and finishes of residences include luxury vinyl plank flooring, 9-foot ceilings, stainless steel appliances, quartz countertops and USB charge ports. An “entertainment cabana building” will be among the more notable amenities.
“Putting the deal together was a big effort from all sides of the transaction,” PCCP analyst Andrew Barbakoff told Multi-Housing News. “Our PCCP-360 Communities venture leveraged our strong, existing relationship to keep everything moving forward.”