JACKSONVILLE, FL – Kernan Oaks Apartments has completed the final phase of a $10 million, 36-month property-wide renovation. This latest round of renovations has made Kernan Oaks Apartments one of the leading lifestyle communities in all of Jacksonville, FL.
The project, which was initiated over 3 years ago, has provided residents with a thoroughly updated apartment community, with both exterior renovations, interior renovations, and upgrades to available amenities for all residents. With these modern features, residents of Kernan Oaks Apartments will delight in an unparalleled lifestyle in central Jacksonville.
Property-wide renovations and amenity upgrades include new high-speed property-wide WiFi, as well as renovated sand volleyball courts, basketball courts, and tennis courts.
In addition, Kernan Oaks Apartments has upgraded its outdoor pool amenities, and added more outdoor entertainment spaces. The pet-friendly facility has also made a new on-site Pet Park complete with an agility course for pet owners who wish to exercise their pups at Kernan Oaks Apartments.
Beyond these luxury amenities, current and future residents of Kernan Oaks will also benefit from quality-of-life amenities including a package concierge locker system, a new shuttle bus system for UNF and FSCJ students, and updated fitness center equipment.
Along with exterior painting and renovations, Kernan Oaks has also invested in modern touches and upgrades for many apartments. These include LED lighting, stone bathroom and kitchen countertops, updated cabinetry, oversized ceiling fans, faux wood blinds, and vinyl plank wood flooring, as well as modern sinks and faucets in every unit.
We re very pleased to bring our latest round of renovations and upgrades to a close, said Brian Cron, General Manager of Kernan Oaks Apartments. With this $10 million investment into our community, we ve been able to provide our residents with a truly brilliant lifestyle that you can t find anywhere else in Jacksonville. It s a huge milestone for us, and we re excited to show future residents everything that our newly-renovated facility has to offer.
These unique updates and renovations make Kernan Oaks Apartments ideal for any Jacksonville resident who is interested in a contemporary lifestyle that allows them to delight in everything that the city has to offer.
Beyond its upgraded amenities and newly-renovated apartments, Kernan Oaks Apartments also features a central location in Jacksonville, only a few miles from destinations like Jacksonville Beaches, University of North Florida, Florida State College of Jacksonville, and the University of Jacksonville.
With its convenient location only minutes away from a nearby Publix and the Kernan Square Shopping Center, Kernan Oaks Apartments is an ideal place to live for students, young professionals, and growing families alike.

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BETHESDA, MD – Meridian Investments announced the closing of R4 Housing Partners XIV, LP., a Section 42 Housing Tax Credit Fund. R4 Housing Partners XIV, LP raised $257.5 million of investor equity and will buy interests in twenty-eight affordable multi-family rental properties located in fifteen states and the Commonwealth of Puerto Rico. Eleven corporate investors participated in the closing. When completed the twenty-eight projects will result in the creation and preservation of 2,758 affordable housing units for families and seniors.
R4 Capital is a nationwide syndicator, lender, loan servicer, and asset manager established in 2011 by its President and CEO, Marc Schnitzer. Rising to meet the new COVID-19 business challenges to ensure the health and safety of everyone directly or indirectly involved and by partnering with our longstanding clients, we were successful in financing these much-needed projects , said Marc Schnitzer. The Housing Credit is our nation s most successful tool for encouraging private investment in affordable rental housing and we thank the Congress for supporting this public – private partnership. Schnitzer continued.
R4 Capital s senior executive team has on average more than 25 years of Housing Tax Credit experience, with a track record that includes over $15 billion of LIHTC equity investments on behalf of more than 200 corporate investors. R4 Capital has continuing relationships with the nation s top LIHTC developers built over 30 years in more than 2,000 transactions. The firm maintains offices in New York, NY, Boston, MA, Newport Beach, CA, and Austin, TX.

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PANAMA CITY BEACH, FL – Watermark Residential, a wholly owned affiliate of Thompson Thrift and one of the nation’s leading multifamily developers, announced the acquisition of 17 acres of land in Panama City Beach. There, the company will develop Watermark at Urban Blu, a Class A multifamily community with an expected completion date of April, 2022.
Located within the 32-acre Urban Blu Plotted Unit Development, the site is conveniently nestled in-between the two main thoroughfares of Panama City Beach: Highway 98 (Back Beach Road) and Front Beach Road. As the only multifamily community with connections to both roads, Urban Blu will offer unmatched access to the area’s major employers, such as Tyndall Air Force Base, as well as a direct shot to the well-known beach and numerous retail shops, dining locations and other amenities.
“The Panama City Beach area has struggled to provide a supply of quality multifamily homes to keep up with the demand of a growing population,” said Paul Thrift, president and CEO of Thompson Thrift and Watermark Residential. “With the U.S. government’s $3.4 billion commitment to transform Tyndall Air Force Base into a state-of-the-art defense base, the need for housing is only going to grow. Watermark at Urban Blu offers a conveniently located solution to this shortage of supply and growing demand.”
Watermark at Urban Blu will consist of 312 one-, two- and three-bedroom apartment homes averaging 958 square feet. Each unit will feature upgraded finishes including gourmet bar-kitchens with granite countertops, stainless steel appliances, walk-in closets and full-size washers and dryers. Community amenities will include a clubhouse, 24-hour fitness center with state-of-the-art equipment, a resort-quality swimming pool with cabana and pet-friendly “bark park” and doggie spa.
The Panama City MSA has experienced a population boom, more than double the U.S. average between 2010 and 2019. Additionally, Panama City Beach was ranked third on TripAdvisor’s 2019 Best Beaches list, encouraging 17 million tourists to visit the area each year. Urban Blu will be only the third Class A community built in the market since 2010 and the closest of the three to the vast majority of Panama City Beach’s workforce.
Josh Purvis, managing partner of Watermark Residential, added, “Watermark consistently seeks to develop superior multifamily communities in locations with high job and population growth and where occupancy rates are stable or expanding. The Panama City MSA fits these criteria perfectly. We look forward to beginning construction and bringing another remarkable Watermark community to Florida.”
Watermark at Urban Blu will be the fourth Watermark community in Florida. Thrive by Watermark, located in Davenport, will welcome residents in early 2021. Axis One by Watermark, in Stuart, and Edge75 by Watermark in Naples are currently under construction and expected to be completed in 2021.
Since 2010 Watermark Residential has constructed more than 40 communities totaling over 11,000 multifamily apartment homes. The company has consistently focused on developments in areas experiencing rapid job growth, increased rental demand and barriers to new supply.

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