A rendering of Normandy Cove. | Housing Trust Group
Published on February 5, 2026 at 12:47 pm
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Housing Trust Group LLC, a Miami-based developer of affordable and market-rate residential communities, is expanding its presence in Northeast Florida.
The developer is behind Bryce Landing, a 96-unit affordable housing property in Middleburg, and is working on Duval 212, an 85-unit mixed-income community that will be in the Cathedral Hill District of Downtown.
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In addition to those two properties, Housing Trust Group is developing a third concept in the Jacksonville area called Normandy Cove. Normandy Cove will be on the Westside, behind Edward H. White High School.
Normandy Cove will bring 144 units in its first phase and 99 units in a future second phase, for a total of 243 units of housing.
Similar to Duval 212, Normandy Cove will have housing for a mix of incomes. Twenty-two units will be set aside for residents at 30% of the area median income. Fifty-six units will be set aside for people earning 60% of the area median income and 70 units for 80% of the AMI.
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In addition, 72 units will be set aside for veterans, and 50% of the units will be held for active duty service members.
Jason Larson, senior vice president of development for Housing Trust Group, spoke to the Jacksonville Business Journal about the development. He said topping the AMI threshold for the property at 80% AMI gives the developer the opportunity to serve people who are active duty enlisted.
“A lot of times, one of the problems there is that between active duty pay and your housing allowance it can put you over income for most of the affordable housing that’s in Jacksonville,” Larson said. “Most of the affordable housing in Jacksonville has developed up to the 60% AMI income limit. … This is an opportunity to do some units that will serve those folks, what you might call the missing middle, between 60 and 80% AMI.”
Normandy Cove has a construction cost of $48 million but will be worth only $25 million once it is listed, with the restricted rents.
Gap funding and grants from the government are crucial to make affordable housing developments possible. Larson said Housing Trust Group has used a 4% low-income housing tax credit from the government and a Freddie Mac permanent loan, through Key Bank, to help fund Normandy Cove.
The development also has received about $2 million in funding from the city of Jacksonville and the Jacksonville Housing Finance Authority.
Since the development is behind Edward H. White High School, Larson said the project has garnered support from the Duval County School Board. Housing Trust Group was granted an easement for the road that the development will share with the school and will make improvements to it.
Larson said the developer is “working to do more in Jacksonville” as financing allows.
He also lamented that the product Housing Trust Group delivers is the same, regardless of the rental rate.
“There’s really no difference between our developments and market-rate developments, but it allows it for a rental rate that is less than the market rate,” Larson said.
Housing Trust Group plans to break ground on Normandy Cove in March.
