Closing Funding Gaps for Jacksonville-Area Real Estate Projects
Jax GAP Fund loans can be used for the acquisition, refinancing, construction, and rehabilitation of properties within Jacksonville or Duval County, Florida.
The fund is administered by Self-Help Ventures Fund and funded by the Jessie Ball duPont Fund, The Community Foundation for Northeast Florida, Northern Trust, and Pinnacle.
The Jacksonville Growth & Affordability Partnership Fund (“Jax GAP Fund”) is a $20 million loan fund created to support and preserve existing affordable housing initiatives in Jacksonville, Florida.
The Jacksonville Growth & Affordability Partnership Fund (“Jax GAP Fund”) is a $20 million loan fund created to support and preserve existing affordable housing initiatives in Jacksonville, Florida.
- Pairs well with other affordable housing financing,
including Low-Income Housing Tax Credits - Recourse and non-recourse options available.
- Access to in-house legal.
- No prepayment penalty.
- Competitive origination fee of 1%.
- Nonprofit and for-profit developers
- Recent, relevant affordable housing development experience
- Term: Up to 5 years
- Amounts: $500,000 to $7,000,000
- 4.75% rates available
- Term: Up to 15 years
- Amounts: $500,000 to $7,000,000
- 4.0% interest rate until 9/2027 (4.25% thereafter)
Program Partners
Creating more affordable housing in our communities requires creative collaboration among many organizations. The Jax GAP Fund is a great example of what we can do when we work together.
The Jax GAP Fund is a result of collaboration among the Jessie Ball duPont Fund, The Community Foundation for Northeast Florida, Northern Trust, and Pinnacle, with Self-Help Ventures Fund serving as administrator of the fund.
