A city in northern Florida that's catching the eye of regional workforces is getting a new 194-unit multifamily rental community.

Palatka, which is 30 miles inland from the historic city of St. Augustine, and 60 miles from Jacksonville. The Cottages at St. Johns, developed by DLP Capital, a private real estate investment and financial services firm, will have 97 duplex cottages with rents that are more affordable than other cities nearby. 

Residents in northern Florida are looking for inland housing options as rents in the coastal areas have grown, especially land costs for development.

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Melea VanOstrand

Melea VanOstrand oversees the Daily Business Review as ALM's Florida Bureau Chief. Email Melea at [email protected] or follow her on her Twitter or Facebook pages.

Multifamily
Southeast