Representatives of a proposed workforce rental community met with members of the public Oct. 24 and 25 at Our Lady of Good Counsel, 5950 State Road 16, to provide details and answer questions.
A 288-unit rate-restricted rental community, Preserve at Wards Creek could be open for occupancy as early as January 2027 if all pieces fall into place quickly. Currently, the prospective owner, developer and manager of the property, Dominium, is seeking the necessary zoning changes to move forward. The 19.1-acre site at 6351 County Road 16A, is zoned rural, so a planned unit development would have to be established.
The units would be designed for two, three and four bedrooms and be located in three-story structures.
About 40% of the funding for the $100 million project would be subsidized through the sale of credits to Community Reinvestment Act banks that are required by the federal government to invest in affordable housing. The U.S. Department of Housing and Urban Development will cap rental rates, which means they will remain lower than most market-rate alternates for at least 30 years.
At 2023 figures, a two-bedroom unit would rent for $1,069 a month, a three-bedroom unit would rent for $1,227 and a four-bedroom unit would rent for $1,362. Those rents will likely increase slightly by the time the units open.
What will also increase is the renters’ maximum earnings. In 2023 terms, that’s $42,480 for a two-person household, $47,820 for a three-person household and $53,100 for a four-person household.
One of the concerns most mentioned by meeting attendees was the potential impact on traffic.
“We are working on multiple solutions to traffic that are going to be paired with our project,” said Katessa Archer, senior development associate, who led the presentation. “I can’t formally speak on those yet because they haven’t been fully negotiated with the county, but we’re very aware of that issue.”
She added that road improvements would have to be made prior to the property being occupied.
Preserve at Wards Creek would have only one main access, on State Road 16A.
Land-use attorney Thomas Ingram described a number of road improvements already planned for the area surrounding the project:
Preserve at Wards Creek would have several amenities, including a clubhouse with a pool, a fully furnished fitness center, a room for residents to rent out for events and a playground and a walking path. Pets would be allowed.
Dominium owns, develops and manages affordable rental communities in 18 states, including 25 such properties representing more than 5,700 homes in Florida.
The only other property it owns in St. Johns County is The Oaks at St. Johns near Nease High School. It recently purchased that property from a previous owner and is in the process of renovating it. The demand for units at The Oaks is so great there is a 1,000-person waiting list.
The Preserve at Wards Creek project will come before the Planning & Zoning Commission on Dec. 21. Requested zoning changes will then come before the St. Johns County Board of County Commissioners on Feb. 6.
