JACKSONVILLE, Fla. — The City of Jacksonville launched the SHIP Single-Family Development Program to provide affordable homeownership for very low-income households.
The $2 million initiative will initially fund the construction of 10 homes and provide downpayment assistance for eligible buyers.
Funded through the State Housing Initiatives Partnership, the program targets residents earning 50% or less of the Area Median Income. This translates to an annual income limit of $35,900 for an individual or $51,250 for a family of four.
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The program operates on a revolving loan model where short-term construction loans are provided to non-profit developers. These loans are fully repaid to the city once a home sale closes, which allows the money to be reused for future housing projects.
The city aims to maximize the impact of the SHIP funding by supporting the ongoing production of affordable units.
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City officials stated the program is intended to expand the local affordable housing supply while helping families build equity and stability. The new construction is also expected to strengthen neighborhoods by increasing the number of residents who own their homes.
The Housing and Community Development Division is currently finalizing a construction request for proposals. The project will use a transparent procurement process to select developers for the first 10 homes.
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