Downtown East, formerly known as Franklin Arms, will undergo significant renovations to deliver high-quality, mixed-income housing.
JACKSONVILLE, Fla. (November 20, 2023) – LIFT JAX and the Jacksonville Housing Authority (JHA) announced today the purchase of Downtown East Apartments for $7.25 million. The partnership represents a significant investment in the Historic Eastside and dedication to providing accessible multi-family housing in the neighborhood.
JHA will assume management responsibility of Downtown East Apartments located at 888 Franklin Street. An investment of approximately $5 million is expected to renovate the property, with an initial focus on safety and security. The renovations are planned to take between 12 and 18 months with the final product unveiling a quality housing complex with new amenities for all to enjoy.
“This project is a wonderful example of how a public-private partnership can deliver quality, affordable housing for Jacksonville residents in historic Eastside,” said JHA CEO Dwayne Alexander. “I’d like to thank our Board of Commissioners for supporting innovative developments like Downtown East Apartments as we continue to fulfill our mission of providing clean, safe and affordable housing.”
Once renovations are complete, the transformed 102-unit complex will offer a range of rents that ensure low- and moderate-income residents will be able to take advantage of the renovated housing.
“The partnership to renovate Downtown East represents the best of Jacksonville. I applaud the Jacksonville Housing Authority and LIFT JAX for working together to keep this property in local hands, giving more Historic Eastside residents a safe, comfortable, affordable place to call home,” said Mayor Donna Deegan.
“Community leaders have worked for years to bring a much-needed change to Downtown East Apartments,” said David Garfunkel, President of LIFT JAX. “Just two blocks from the A. Philip Randolph Blvd. business corridor and the heart of the Eastside, this is an opportunity to transform a neighborhood landmark into something that positively contributes to the surrounding area and hundreds of residents.”
Learn more about LIFT JAX’s work in the Historic Eastside at liftjax.org. Learn more about the work and resources offered by JHA at jaxha.org.
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ABOUT JACKSONVILLE HOUSING AUTHORITY
The Jacksonville Housing Authority (JHA) was created in 1994 to fill the need for a more effective community service-oriented public housing agency. The Board of Directors consists of seven members who are appointed by the Mayor. These seven members have a strong record of success in the private sector and work hard to build a better future for the local Jacksonville community. For more information, visit www.jaxha.org.
ABOUT LIFT JAX
The seeds for LIFT JAX were planted in 2017 when a cross-sector group of Jacksonville’s business and community leaders convened to plot a path to build generational wealth in the city. LIFT JAX’s flagship strategy is to implement the Purpose Built Communities model in Jacksonville’s Eastside, affectionately known as OutEast. The nationally recognized model has transformed poverty-stricken areas across the country and is based on a coordinated, holistic approach to revitalization, including high-quality, mixed-income housing; cradle-to-career education; community wellness; and long-term financial vitality for residents. As the Community Quarterback, LIFT JAX is working with Eastside residents directly to identify pressing community needs and bring together partners to address them. For more information about LIFT JAX and Jacksonville’s Eastside, and to get involved, visit liftjax.org.