Dwayne Alexander, JHA’s interim President and CEO

The Jacksonville Housing Authority (JHA)  has closed on financing for the renovation of the Centennial Towers senior living community in Jacksonville’s Springfield neighborhood.

Financing is being provided by Raymond James and Bank of America. Work will include unit and system upgrades to plumbing, electrical, and A/C systems, and new appliances in each unit.

The 14-story Centennial Towers building, located at 230 East 1^st Street, contains 208 units for senior residents. JHA will partner with The Vestcor Companies, a Jacksonville-based affordable housing builder with a wide portfolio of senior communities, to rehabilitate the property at a projected cost of $14.5 million.

Construction will last for 14 months, with the project projected to wrap up in January 2022. Throughout the project, residents will be moved out three floors at a time as the renovations progress. JHA will cover all expenses to relocate them to other JHA properties or extended-stay hotels for the duration of work in their units, which should take approximately 60 days.