JACKSONVILLE, Fla. – The JAX Chamber board of directors on Friday voiced its support of a world-class development on the former Shipyards property in downtown Jacksonville.
The chamber thanked the three companies for offering proposals, but believes the development proposed by Iguana Investments, the company formed by Jaguars' owner Shad Khan, is clearly the most viable of the three because the company can make the significant capital investment needed for the project to be successful.
"The JAX Chamber is committed to the revitalization of downtown and is strongly in favor of the development of the Shipyards property," a resolution said. "This riverfront property has the potential to transform downtown Jacksonville. The Chamber sees this as a catalyst to redevelop the area and urges city leaders to 'think big' on the potential for the high-profile real estate.
The Chamber believes it is critical that work begin on the project soon to help jumpstart downtown revitalization as a whole. Any development agreement should be balanced, protect the taxpayers and provide a reasonable return to the city in its efforts to redevelop downtown."