JACKSONVILLE, Fla. – The Jacksonville City Council voted Tuesday night 17-0 in favor of an agreement to bring a $400 million riverfront development to the downtown area.
The bill allowing Jaguars owner Shad Khan’s project to be built along the area known as the Jacksonville Shipyards -- and subsidize it with more than $100 million in tax dollars -- made its way through three City Council committees last week, setting it up for Tuesday’s vote.
In the agreement, the city will provide as much as $115 million for the project. Khan’s company, Iguana Investments, will invest $300 million. The project could be completed by December 2025.
Incredible news for Jax. City Council votes unanimously to approve the @Jaguars’ proposal for development on the Shipyards property. The team estimates the project will create 7,500 construction jobs and 1,500 permanent jobs. #DTJax #ilovejax pic.twitter.com/Wf01nUVH4Z— JAX Chamber (@JAXChamber) October 13, 2021
The plan includes building a Four Seasons Hotel and Residences, office complex and marina facilities.
“I’m really, really excited about downtown,” Jaguars president Mark Lamping said, thanking City Council members following the vote. “I know Shad (Khan) is just thrilled because, you know, his commitment to downtown is absolute and this is such a huge step.”
When it comes to getting started on the Four Seasons, Lamping predicts contractors will get the process going on building the hotel sometime in the second quarter of next year.
Lamping believes the project will be a catalyst for other developments.
“I think it shows a tremendous amount of confidence in this community,” Lamping said. “I think it provided evidence that this type of dialogue and process works. And I think we got to a great end.”