JACKSONVILLE, Fla. – Renderings of the first two phases of development of Lot J near TIAA Bank Stadium, the Shipyards and a previously unannounced residential expansion north of Lot J was laid out in a presentation this week to the Meninak Club of Jacksonville, according to a report from News4Jax news partner the Jacksonville Daily Record.
The $450 million to $500 million Phase I of Lot J is made up of the Live! Arena entertainment venue, a 200-unit boutique hotel and 700 residential units, the Daily Record reported. Cordish Companies Chief Operating Officer Zed Smith said the development would include 400 mid-rise units and 300 high-rise units.
“The thing that appealed to us about Jacksonville is we have the land to develop into the future. We could be building here for the next 20 years,” Smith said of The Cordish Companies and Khan’s subsidiary.
Baltimore, Maryland-based The Cordish Companies and Jaguars’ subsidiary Gecko Investments LLC are equal partners in the Lot J-Shipyards project, the Daily Record reported, operating as Jacksonville I-C Parcel One Holding Company LLC, according to the Lot J development term sheet released by the city July 31.
Phase II is west of Lot J at what is a retention pond at North Georgia Street and Gator Bowl Boulevard. The renderings appear to shift Lot J’s proposed Class A office space to Phase II, which includes a high-rise residential tower and a mixed-use office/residential tower, according to the Daily Record.
As first reported Tuesday by the Florida Times Union, Jaguars President Mark Lamping said in January the Jaguars and the mayor’s office are “very close” to finalizing a deal that would go to the City Council. Lamping said hopes to break ground on the project in the spring.
Smith told the Daily Record that crews could begin environmental remediation at Lot J by summer, but he doesn’t expect vertical construction until June 2021.
To read more about the latest on the sprawling development, visit JaxDailyRecord.com.