As we push toward our goal of a developed Jacksonville Shipyards, we’ve got a lot of field left to cover – but on Friday, June 25, we secured an important first down.
The DIA’s Retail Enhancement and Property Disposition Committee unanimously approved a resolution in support of our plans to redevelop land previously occupied by the Kids Kampus.
While we’re excited and encouraged by this first step, we can’t lose our focus on the next play. With this vote, the proposal advances to the next phase in the public review process with a full board meeting of the DIA on July 7.
Recapping Our Plans
Private investment will exceed $300 million for the Four Seasons Hotel and condominiums and the nearby office building, with Iguana Investments responsible for nearly all upfront cash expenditures and any cost overruns. The DIA’s calculations conclude that the financial benefits to the city will exceed its proposed contributions to the project, making this a win for all involved.
Additionally, the City’s only upfront cash costs will be limited to the relocation of the fire museum, marine fire station and dock to facilitate this new development. The balance of City contributions to the project would occur once the project has been completed in the form of payment for improvements to City-owned assets (the Marina, Marina Service Building and Event Lawn), a Completion Grant and a REV Grant – on taxes that would not be generated if not for the project.
None of the development would happen on the current site of Metropolitan Park. The Jaguars will assume ongoing responsibility to keep the park clean, safe, and well-maintained with a $4 million, 20-year commitment through the City’s existing Private Park Adoption Program.
Get in the Game
Here’s where you can help! Let the DIA know that you support 1st DownTown Jacksonville by using our quick and easy form below to reach DIA board members or emailing [email protected] directly no later than July 5. All public comments sent to this email will be forwarded to the DIA prior to the meeting.
If you’d like to voice your support, you may also do so in-person or via Zoom during the public comment portion of the meeting, which occurs first on the agenda.
Make Your Voice Heard
Send a message to the Downtown Investment Authority board to let them know that you Support Our Shipyards.