Avanta Residential Reaches Financial Close for Homes at Westgate in Jacksonville, Florida
August 12, 2022
DENVER – Avanta Residential today announced that the firm closed on approximately 20 acres on two adjacent land sites in Jacksonville, Florida to develop a built-for-rent community. The community, called Avendale at Westgate, marks Avanta’s first project in Florida.
The single-family rental community will consist of 157 two and three-bedroom luxury townhomes with an average square footage of 1,516. Community amenities will include a leasing center, clubhouse, and resort-style pool, and will offer connectivity to an adjacent city park with a playground, soccer fields, and open areas.
“We are thrilled to expand our footprint in Florida,” said Terence Johnson, Senior Vice President of Development. “The location of Avendale at Westgate is ideal, with its proximity to national retailers as well as major employers.”
Avendale at Westgate is located in a rapidly growing area of Jacksonville just south of Beach Boulevard and only 3.5 miles from St. Johns Town Center, a large retail and dining destination featuring numerous national retailers including Apple, Nordstrom, Target, TopGolf and Publix Grocery store. Major employers located near Avendale at Westgate include Johnson and Johnson, CEVA Logistics, St. Vincent’s healthcare, Web.com and Deutsche bank.
Avanta, headquartered in Denver, was formed in 2020 to respond to the increasingly popular purpose-built single-family rental industry. Avanta is continuing to add to its already experienced team to execute on its development pipeline.
Avanta plans to deliver homes at Avendale at Westgate in 2023.
Avanta is setting the standard in the build-for-rent communities’ industry. Avanta was created out of the deep experience of Hunt Companies Inc., a diversified, family-owned holding company with more than $8.5 billion in completed real estate developments, including the development of over 70,000 single-family rental homes across the United States, 50,000 of which are still own and operated today. Avanta is committed to developing thoughtful, well-designed, amenity-rich single-family homes for lease throughout the U.S. Avanta is active in Texas, Florida, Georgia, and Colorado and is expanding its footprint. For more information, www.avantaresidential.com.