The preliminary scope of financing would have the city shoulder $536 million of the cost for infrastructure, riverfront parks, the riverwalk, marina improvements and the proposal s Exhibition, Entertainment and Technology Center that Akins envisions rising up behind the Hyatt Regency Riverfront Hotel.
A key to Southeast Development s approach is it would have a master developer for parcels of city-owned land that the Downtown Investment Authority has been marketing separately up to this point. I m a big believer in master plans and I think that the type of development that we need to see on the Northbank, particularly in what is essentially the face of Jacksonville, needs to be addressed in a master plan, Atkins said. I think that s critical.
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Developer unveils ambitious $1.1 billion plan to reshape downtown Jacksonville riverfront
Staff, News4Jax.com
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SouthEast Development Group says Riverfront Jacksonville would comprise more than 755 new residential units and 208 hotel rooms. (SouthEast Development Group)
JACKSONVILLE, Fla. – A Jacksonville developer on Tuesday laid out a plan to redevelop a large swath of the Northbank in a project expected to cost at least $1.1 billion.
The redevelopment of 25 acres of mostly city-owned property along the St. Johns River, dubbed “Riverfront Jacksonville,” would include the former home of The Jacksonville Landing.
Jacksonville developer Steve Atkins said he will look to the city to pay for $536 million in a public-private partnership to build 1.8 million square feet of space from the former Jacksonville Landing to the former Duval County Courthouse and old City Hall site, rebranded in 2020 as The Ford on Bay.
DIA board approves $24 67 million Laura Street Trio loan package | Jax Daily Record | Jacksonville Daily Record jaxdailyrecord.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jaxdailyrecord.com Daily Mail and Mail on Sunday newspapers.
The proposed $24.67 million taxpayer-backed deal to partially finance SouthEast Development Group LLC’s planned historic Laura Street Trio renovation Downtown cleared its first hurdle March 15.
The Downtown Investment Authority’s Strategic Implementation Committee voted 3-0 to advanced the deferred and forgivable loan package for the full board’s consideration March 17.
If approved, City Council could take the final vote on the incentive agreement by the end of June for SouthEast’s $70.48 million proposal to adapt the vacant structures into a 145-room Marriott Autograph Hotel with a restaurant, lounge and ground-floor retail.
SouthEast Managing Director Steve Atkins said March 15 that the 4,401-square-foot, ground-floor bodega grocery store that will be in the Trio’s Bisbee Building has been leased to a retired Winn-Dixie employee. He did not release any additional information about the operator at the meeting.