Free local news and info, in your inbox at 6 a.m. M-F. A new $20 million fund in Jacksonville will finance $80 million in affordable multifamily rental housing, a group of private and philanthropic investors announced Thursday.
The Jacksonville Growth and Affordability Partnership Fund — known as the Jax GAP Fund — is designed to seek solutions to the lack of affordable rental housing in the city.
The fund is the culmination of five years of research by groups including The Jessie Ball duPont Fund, Community Foundation for Northeast Florida and Pinnacle Financial Partners. The GAP Fund will offer low-cost development loans, tax credits and other assistance to affordable-housing developers…