Tue December 29, 2020 - Southeast Edition #5
Florida Times-Union
A 2015 rendering by the developer shows how The District on the Southbank would have a marina along with residential and office buildings on 32 acres of land that is vacant now. (Elements Development of Jacksonville rendering)
After slogging through the
COVID-19 pandemic, the outlook for downtown Jacksonville, Fla., has ended 2020 on a sweeter note as the mega-development called The District picks up steam in completing financing that would enable long-awaited construction to start in 2021.
The proposed development, which has been in the works for years without any ground-breaking, got a second wind in September after Dallas-based Preston Hollow Capital took the lead role in turning a 32-acre vacant tract of land into 950 residences along with a hotel, several hundred thousand square feet of office and retail space, and a marina.
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Mega-project The District gets back on track in downtown Jacksonville From a downtown perspective of what that development would mean, it s a huge project. It s going to be almost like building a little community within our downtown. Author: Florida Times-Union, David Bauerlein Published: 3:49 PM EST December 22, 2020 Updated: 11:28 PM EST December 22, 2020
JACKSONVILLE, Fla. After slogging through the COVID-19 pandemic, the outlook for downtown Jacksonville could end 2020 on a sweeter note as the mega-development called The District picks up steam in finalizing financing that would enable long-awaited construction to start in 2021.
The proposed development, which has been in the works for years without any ground-breaking, got a second wind in September after Dallas-based Preston Hollow Capital took the lead role in turning a 32-acre vacant tract of land into 950 residences along with a hotel, several hundred thousan
02:16 PM EST Share Preston Hollow Capital plans to start infrastructure work in early 2021 for the estimated $600 million mixed-use development.
Preston Hollow Capital LLC’s will meet its deadline from the Downtown Investment Authority to secure bond financing to fund site infrastructure for its $600 million project The District on Jacksonville’s Downtown Southbank.
Preston Hollow Managing Director Ramiro Albarran
The DIA announced Dec. 22 that The District Community Development District closed on $35.56 million in bonds. Preston Hollow Managing Director Ramiro Albarran said in an interview that the money was sent by wire transfer earlier in the day.
“We think it’s going to be an energizing project for the city of Jacksonville,” Albarran said.