Orlando

The Jacksonville, FL apartment community is set to receive $4.9 million in capital improvements.

Passco acquired Legacy at the Bay from Carter-Haston Real Estate Services, a Nashville-based private fund and property management firm.

TD Bank provided developer Blue Sky Communities of Tampa, FL with a $22-million construction loan and a $20.3 million equity investment through the purchase of Low-Income Housing Tax Credits from TD's Community Capital Group for its Preserve at Sabal Park project.

The newly developed property was sold by AC Packer West, which was represented in the transaction by CBRE's Joe Ayers, Cliff Taylor and Shelton Granade. The deal calculated out to $211,333 per unit.

Designed by internationally-recognized architectural firm Arquitectonica, One Island Park will generate more than $2.9 million in annual tax revenue to the city on a parcel that currently generates $10,500 a year in taxes.

Tampa posted a cost of living index of 89.7 during the first quarter of 2019, which was a slight decline from the first quarter of 2018 when its cost of living index registered at 90.1.