New York-based developer recommended for Jacksonville riverfront site
DIA committee recommended Spandrel Development Partners be given bid for Bay Street property
JACKSONVILLE, Fla. – Jacksonville is one step closer to having new homes and businesses along the St. Johns River downtown.
Two developers have been bidding to develop East Bay Street, where the old courthouse and City Hall annex once stood.
The first bidder, Spandrel Development Partners, specializes in developing “mixed-use, multi-family, hospitality and retail projects in target cities of growth," according to its website.
The second bidder is Related Group. Its website shows a heavy emphasis on residential development in the Miami area.
On Monday, members of the Downtown Investment Authority committee for development recommended that Spandrel Development Partners be given the bid for the property. The new development would be called The Ford on Bay.
Now the full committee will consider the recommendation and announce what comes next on Feb 19.
Spandrel said it is happy to be considered for the project.
“First and foremost, we are very excited to be here in Jacksonville and very excited about the recommendation that has been put forth today and we look forward to the meeting on the 19th and the board’s decision,” Ben Scharf, a Spandrel spokesman, said.
If the full board agrees to have Spandrel Development Partners develop the riverfront site then the group and DIA will agree on the terms of the project.
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