**Related Group Greenlit for $202M Southbank Rental Community**
Related Group has received approval from Jacksonville city staff to move forward with a $202 million apartment development along the Southbank. The project, named RD River City Brewery Apartments, will feature a 25-story riverfront tower comprising 390 residential units.
In addition to housing, the development will include a ground-floor restaurant and a 1,000-square-foot ship’s store to support a 29-slip marina and a boat ramp, which will be funded by the city.
In 2024, the city approved a $58.8 million grant to support the project, based on total development costs estimated at $202 million. Related Group acquired the approximately 3.02-acre former River City Brewing property in 2021 for $10 million.
The company has a notable portfolio that includes seven other properties, such as three luxury condominiums in the Miami area and four high-end rental communities located in Atlanta, St. Petersburg, West Palm Beach, and Fort Lauderdale.
