Construction of the Ashley Street Container Lofts, built from converted shipping containers, in Downtown’s Cathedral District is expected to be finished by the end of the year, despite setbacks.
During a live stream of the Not Your Average Investor podcast, Alex Sifakis with developer JWB Real Estate Capital said his group originally planned to build out each shipping container unit for $50,000, but they ended up costing closer to $90,000 a piece. He also changed project engineers three times.
“Instead of trying to use someone locally, we should have just used the expert from the get go,” Sifakis said. “Nothing on this project went how it was supposed to, but we are still getting it built and we’re excited to add 18 new units to Downtown Jacksonville.”
Half of the 320-square-foot units will be short-term rentals, and rent will be between $700 and $800 a month for the rest.
JWB Real Estate plans to begin leasing in November.
As WJCT News partner The Jacksonville Daily Record reports, the three-story, $1.7 million project was originally forecast to be complete in the first quarter of 2021.
A fully furnished model unit features a full washer and dryer, a galley kitchen with granite countertops, a full bathroom with a shower as well as a separate bedroom and living space. Second- and third-floor units will have an outdoor balcony and an added closet.
The project contractor is ShayCore Enterprises Inc. and the architect is Fisher Koppenhafer Architecture Interior Design.
Brendan Rivers can be reached at brivers@wjct.org, 904-358-6396 or on Twitter at @BrendanRivers.
