90ºF

City now reviewing Shipyards proposals

DIA to choose 1 plan among final 3 this month

JACKSONVILLE, Fla. – The city of Jacksonville is still trying to get the Northbank property along the river into shipshape condition.

No decision has been made on which developer  will partner with Jacksonville to  develop the Shipyards property near the sports complex.

The city officially released details this week from the bids on all three  plans. The proposals are being reviewed and scored.

VIEW 3 PROPOSALS: Shad Khan's Iguana Investments | Presidium's Sea Glass  |
JaxOne's business incubator

One plan is the unspoken favorite: the Shipyards plan from Shad Khan's Iguana Investments.

The Sea Glass at the Shipyards proposals includes plans for and observation tower.

JaxOne is a business incubator project and a water park of sorts.

All three call for office space and restaurants, but the three are very different.

In Kahn's vision, Iguana Investments would spend up to $624 million and could complete the project by 2020. The project would include a hotel at Metro Park, a dock for the USS Adams and a multitude of restaurants, offices and stores. How much the group would pay for the land, if anything, is not known, but the city would have to clean up environmental concerns at the site.

3 Shipyards proposals

The Sea Glass at the Shipyards by the Presidium Group proposal is the idea that would be the most costly for the developer at $1 billion and would take eight years to complete. It includes a 1,000-foot tower, stores, restaurants and public space. Presidium would buy the land for $20 million.

JaxOne Renovations takes a different approach, envisioning a place where jobs and visions could grow. The developer would invest $350 million and projects that the first phase would be complete by 2019. The group would not buy the land, but would lease it from the city and help with the environmental cleanup.

Staff from public works and others are scoring each plan and will present them to the Downtown Investment Authority.

DIA will select the winning design later in April.


About the Author: