RISE is facing a challenge in expanding its Jacksonville apartment projects due to the current slowdown in institutional lending. However, according to the Jacksonville Business Journal, once there is an easing of this issue, RISE plans to take a more aggressive approach.
The company’s latest project in the Jacksonville area is a 331-unit development situated off Interstate 95 in Baymeadows. This project has an estimated cost of $85 million and will consist of four stories spanning over 327,000 square feet. The apartments will offer one, two and three-bedroom options at market rates. While the first batch of units is expected for delivery by July 2024, additional units may become available as early as early 2025.
Located at 7331 Baymeadows Way amidst office parks, RISE’s fifth project showcases their commitment towards growth and expansion within the region.
