The shipyards project will produce benefits “that will exceed any expense” made by the city
JACKSONVILLE, Florida – Jaguar owner Shad Khan has said his plans to redevelop downtown Jacksonville shipyards are receiving city support.
The proposal would bring a Four Seasons hotel to the downtown shores of the St. Johns River. There are also plans for a football performance center next to TIAA Bank Field, an office building, a sports medicine complex and other improvements to the city-owned marina.
The Four Seasons Hotel and Residences, with 176 rooms and 25 residential units, would open in early 2025, if plans are approved.
In a statement (full at the end of the article) released Monday afternoon, Khan and his development firm Iguana Investments said the cost would exceed $ 300 million for the hotel and office building. He said the city’s only initial cost would be to move the fire museum, fire station and docks near Metro Park, which could cost around $ 20 million. The city would end up paying more upon completion of the project with grants and tax subsidies totaling over $ 114 million.
CONNECT: Additional financial summary for the Shipyards project
“In short, the project will produce benefits that will exceed the expenses incurred by the City. This is good news for all of us, now and in the future, ”writes Khan.
Jaguars President Mark Lamping led the conversation at a community meeting Monday night on The Shipyards project and wanted people to have their questions answered.
“I am so happy that we chose to do this. I love hearing supporters and I love hearing people who give us constructive criticism, ”Lamping said.
Community members expressed their praise and concerns, one of which was the occupation of the municipal park space by buildings.
“I have concerns about the location of the hotel on the park property,” said one person.
Lamping explained, “In addition to the 14 acres of park space, this creates a park of equal or larger size.”
People were happy with this response.
“They’re going to support whatever the city decides to do with Metro Park so far, and what they’re trying to do is not break that, so that’s good,” JJ Hammond said. “One way to make Jacksonville a destination, not a hub, is to support these projects. “
Jacksonville resident and Jaguar season ticket holder Ted Powell is optimistic about the project.
“We like the way the Jaguars reacted to some of the mistakes they made with Lot J, and they’re holding the community meetings and they’re doing more listening,” said Powell.
The Downtown Investment Authority has been working with Khan on developing a plan and plans to review a draft on Friday at a committee meeting. The whole council would then deal with it in July before going to city council for final approval.
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