JACKSONVILLE, Fla., August 17, 2026 – JWB Real Estate Capital, the City of Jacksonville and its partners broke ground today on the construction of a three-site affordable housing community using Low Income Housing Tax Credits (LIHTC). For the last 20 years JWB has been a leader in building housing that is affordable, but this is the first LIHTC project for the local real estate company. JWB is building 108 total units set to open in 2027, all of which will be priced at or below 60% of the area median income (AMI) for 99 years. The groundbreaking was held at the Parkwood Commons West on Jacksonville’s Westside, which will become a 38-unit townhome community.
Parkwood Commons North is at 5875 Justina Ct., Parkwood Commons West is at 3825 Ricker Rd. and Parkwood Commons South is at 1441 Tracy Rd. Using separate, smaller infill parcels to create more affordable housing is recognized as a national best practice, but these types of developments can be rare. The City of Jacksonville issued permits in July and initial site work has now begun.
“Housing costs continue to be top of mind in Jacksonville. The solution is building more homes that are affordable for families with the greatest need. It takes fantastic partners to do this work, and we are grateful to JWB for answering the call,” said Mayor Donna Deegan. “The 108 units of Parkwood Commons are part of the more than 7,000 below market rate homes that are built or on the way since I took office. And we will continue pushing to build even more.”
At Parkwood Commons North and South, 35 one-story ranch-style 399-square-foot units will be built at each development, and Parkwood Commons West is a townhome-style community featuring two-story, three-bedroom townhomes ranging from 1,428 to 1,444 square feet. The community will also include amenities like car care centers, playgrounds/tot lots, community gardens, community centers, libraries/studies, computer labs and picnic areas.
“JWB is proud to launch construction of Parkwood Commons after many years of hard work, planning and design,” said Alex Sifakis, president of JWB. “Designing and building these unique developments to become affordable presents many challenges, but JWB, the City of Jacksonville and other funders and development partners worked together on creative solutions to ensure we built Parkwood Commons to address Jacksonville’s great need for affordable housing.”
Parkwood Commons is an approximately $28.6 million project, with $7.15 million in critical GAP funding provided by three organizations – a $3.8 million loan from the City of Jacksonville, a $1.85 million loan from the Jessie Ball duPont Fund and a $1.5 million loan from the Jacksonville Housing Finance Authority (JHFA).
In addition to funding, the project couldn’t have happened without a long list of partners, including Flight Builders, Marietta Sand Corporation, Bold Line Design, Prime Engineering, Kennedy Civil Services, Zach Miller Law, Renew Arlington, JEA, Florida Housing Finance Corporation and the St. Johns River Water Management District.
JWB Real Estate Capital is also redesigning and securing funding for Cathedral Commons, a new construction development featuring 120 units of affordable housing in Downtown’s Cathedral Hill District.