JACKSONVILLE, Fla. – Big changes are proposed for the downtown Jacksonville skyline. The Downtown Investment Authority has agreed to start negotiations with a developer to build a multimillion-dollar high-rise on the site of the former Jacksonville Landing.
According to our news partners at The Jacksonville Daily Record, the developer and the city have 105 days to agree to the terms.
The new design shows the divisive “Jax” sculpture and a futuristic tower with several terraces at the bottom that slowly transforms into a more traditional high rise at the top.
The price tag for the Riverfront Plaza high-rise is $166 million.
According to the Daily Record, one thing could throw a wrench in the development. The Investment Authority’s CEO Lori Boyer acknowledged that “American Lions is asking for more taxpayer investment than many other private development projects.”
In 2021 Jaguars owner Shad Khan’s plans to develop Lot J failed after the City Council decided the taxpayer-funded portion of the multi-million-dollar deal was just too costly.
The Daily Record reports the developer is asking for more incentives than the one developing “The Hardwick” on the former courthouse site. In that case, they want $41 million.
We should know what the final deal looks like by September.