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Madison Communities has opened Madison Fountains, a 276-unit community located in St. Johns County, Fla., near Jacksonville. Construction of the community began in 2022.

According to Yardi Matrix, the developer had previously secured a $50.3 million construction loan from Citizens Financial Group in 2022. Financing for the project was facilitated by Patterson Real Estate Advisory Group. Madison Community developed the community with Benco Construction, their affiliate general contractor.