5.1.15 Vestcor Breaks Ground on ARC Village

FOR IMMEDIATE RELEASE
May 8, 2015
Contact: Holly Hepler, Vestcor Companies
(904) 288-7731 or [email protected]
VESTCOR BREAKS GROUND ON ARC VILLAGE
JACKSONVILLE, FL – May 1, 2015 – In partnership with the Arc Jacksonville, Inc., a local nonprofit organization, the Vestcor Companies broke ground on ARC Village, an affordable,
independent-living, apartment-style neighborhood for adults with intellectual and
developmental disabilities. ARC Village will be owned by a limited partnership controlled by
ARC Jacksonville and co-developed by Arc and Vestcor, which brings 18 years of experience
developing affordable communities to the project.
ARC Village will provide independent living for individuals with intellectual and development
disabilities in a safe, controlled environment with shared amenities that encourages socializing
and sharing among residents. The 122-unit Village has a neighborhood design with one story
duplexes and triplexes containing 1 and 2 bedroom units and an 11,000 square foot community
center. Located on Hodges Boulevard just south of Beach Boulevard in Jacksonville, Florida, the
Village will provide easy access to employment, entertainment, shopping and education.
Construction financing for the development is being provided by EverBank as well as additional
funding by the Florida Housing Finance Corporation through a combination of loan/grant
monies and Low Income Housing Tax Credits.
PQH Architects Group, Inc. and Summit Contracting Group, Inc., both Jacksonville-based are
architect and general contractor respectively for the development. Construction began May 1st
and is expected to be complete May of 2016.
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About The Vestcor Companies
Drawing on over 32 years of real estate development experience, Vestcor continues to excel in
the areas of multifamily real estate development and investment. Throughout its history,
Vestcor has developed in excess of 12,000 multifamily units, including new construction and
acquisition rehabilitation of affordable, student, conventional and historical buildings. Vestcor’s
long-term approach results in communities that the residents are proud to call home. For more
information, please visit www.vestcor.com.