Ceiba Groupe Secures $40 Million for Innovative Hybrid Rental Development in Jacksonville

Ceiba Groupe lands a $40.2 million construction loan for Royal Palms Main Street, a 227-unit hybrid development in Jacksonville featuring apartments and townhomes.

By: AXL Media

Published: Mar 12, 2026, 4:24 AM EDT

Source: https://www.multihousingnews.com/

A Dual-Asset Class Approach to Residential Development

Royal Palms Main Street is architecturally divided into two distinct residential experiences to meet varying market demands. The project features 168 multifamily apartments offering one- and two-bedroom floorplans, catering to individuals and couples seeking a traditional luxury apartment lifestyle. Complementing the mid-rise units are 59 BTR townhomes featuring larger three- and four-bedroom layouts. By integrating townhomes into a multifamily framework, Ceiba Groupe is positioning the property to attract families who require more square footage and private entries but desire the amenities typical of a high-end apartment complex.

Strategic Location and Connectivity in North Jacksonville

The development site at 15275 N. Main St. is situated approximately 15 miles north of Jacksonville’s downtown core, placing it in a high-growth corridor. Residents will benefit from immediate proximity to major transit arteries, including Interstate 95 and U.S. Route 17, both located within a mile of the property. Additionally, a nearly 1-million-square-foot retail center is located just three miles away, providing essential commercial infrastructure that supports the long-term appreciation of the asset and convenience for future tenants.

Comprehensive Amenity Suite and Lifestyle Integration

The property is designed to compete with premier rental assets through an extensive amenity package. Central to the community will be a clubhouse and a swimming pool featuring a dedicated swimming lane. Unique features include a central lake surrounded by an integrated walking path, climate-controlled storage units, and a specialized pet spa alongside a standard dog park. Industry experts note that this "lifestyle-first" approach, which combines typical multifamily perks with BTR privacy, is a key driver for high occupancy rates in the current Florida rental market.