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

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.

“From Polk County to Pinellas County, more people than ever are looking to build in Tampa, as evidenced by the tremendous amount of spec development going on today,” says JLL's John Dunphy.