Jacksonville’s Southbank is getting a wave of new rentals on the St. Johns River. The Related Group broke ground in May 2026 on Southbank Residences, a roughly $150 million development bringing 395 apartments across two buildings to the downtown riverfront.
Project Scope
Coastal Construction is the contractor on the two-building project, which the city permitted at about $150 million. The development leans on the Southbank’s riverwalk frontage and its proximity to downtown employers across the water, a location Related has been assembling around for several years.
Why It Matters
Downtown Jacksonville has chased residential density for a decade with uneven results, and the Southbank is the piece that’s finally moving. A national developer committing 395 units signals confidence that the riverfront can hold rents the pro formas need. If it leases well, it makes the next Southbank tower easier to finance, which is how a district reaches the critical mass that supports street-level retail and restaurants.
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Project Team & Details
| Developer | The Related Group |
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| General Contractor | Coastal Construction |
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| Status | Under Construction |
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| Funding Source | Private |
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