An Atlanta-based developer has purchased the former Florida Times Union property and is planning to soon demolish the vacant buildings to begin redevelopment of the site into One Riverside, according to News4JAX’s news partner, the Jacksonville Daily Record.
Jeff Fuqua, who JDR said purchased the property on Feb. 4, said he estimates redevelopment of the site to cost approximately $250 million.
“This is pretty monumental. It will be quite a place,” he told the Record.
He plans for demolition to be completed by June.
The project design for One Riverside calls for a grocery store, a riverfront restaurant, retail stores and 270 apartments. The second phase will add more apartments and retail space.
Fuqua told the JDR that the first phase should open in summer 2024.