Property Description

Fully Entitled Affordable Housing Project with 1MM GPR and No Property Tax. Ortega Bluff is a newly entitled 60-unit affordable housing development in Jacksonville, FL, an area with strong demand for veteran and workforce housing. This project benefits from The Live Local Act, which provides favorable financing, affordability incentives, and long-term investment stability. These units will rent at $1,381 per month through the Jacksonville Housing Authority. One of the standout features of Live Local Act Developments is the exemption from property taxes on the building, which significantly reduces expenses and increases net operating income. Jacksonville has a consistent need for affordable and veteran housing, ensuring low vacancy rates and steady occupancy. Additionally, this development qualifies for the Low-Income Housing Tax Credit (LIHTC), and all necessary zoning and unit count approvals are already in place, making it a rare find in the market. Phase 1 ESA completed and clear.