JACKSONVILLE, Fla. – Jaguars owner Shad Khan has passed another hurdle in building a Four Seasons hotel in Downtown Jacksonville.
On Thursday, the Downtown Development review board gave a thumbs up to the design of the luxury hotel and housing that’s planned to be built across from the stadium at the city’s old shipyard site.
The hotel would be right across from TIAA Bank Field — the home of the Jaguars. It’s expected that the groundbreaking will happen sometime this year, but an exact date has not been slated.
Khan’s vision includes the 12-story, 174-room hotel, a 25-unit residential building and a 6-story office complex. It’s expected to cost Khan nearly $70 million more — going from $301 million to $370 million and take six months longer to build. Iguana investments is getting a large tax break from the city.
As for the city, the same commitment applies. Khan has said the city’s only upfront cost will be to move the fire museum, marine fire station and the docks near Metro Park, which could run about $20 million.
Builders are in place and working on agreements.
“We appreciate the Downtown Design Review Board’s support of our plans for the Shipyards. Today marks another key milestone as we transition from the planning phase to execution on the Four Seasons, office building and plans for the riverfront,” Drew Frick, Jaguars senior vice president of real estate and development said in a prepared statement. “We look forward to continued collaboration with the Downtown Investment Authority towards our shared goal of a revitalized downtown Jacksonville.”