Shipyards Re-Development Update: Major Plans and Major Concessions

JAX Jaguars Shad Khan has big plans for the 48-acre former Shipyards site that fronts the St. Johns River downtown, with 1MSF of office space, 100k SF of commercial space, 662 residential units, 350 hotel rooms and 525 marina slips, but it all comes at a cost:  a local TIF (tax increment funding) for the site, possibly state and federal funding for the project, city-paid construction of mooring space for the USS Adams, and the city to foot the bill for up to $35M in environmental cleanup of the site, and if it exceeds that amount, Khan can terminate the agreement.  The first public hearing on the project is at Tuesday’s Downtown Investment Authority’s meeting.  David Chapman of The JAX Daily Record has the latest here.

About scottrogersjax

30 years' in commercial real estate investment sales, banking, mortgage banking, and valuation. Trained and schooled in Atlanta, and now heading the Investment Sales Team in the Colliers Jacksonville office.

Posted on February 23, 2015, in Development, Downtown, JAX Daily Record, Land and tagged , , . Bookmark the permalink. 1 Comment.

  1. Let’s hope they use Jacksonville based Architects. No need to go outside of Jax for this work.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: