JACKSONVILLE, Fla. – One of the proposals to develop the Shipyards, and compete with Shad Khan's proposal, includes a local group as part of the partnership.
The proposal from the Presidium Group, based in Texas, and Killashee Investments in Ponte Vedra includes an iconic tower, stretching 1,000 feet above the River City, an art museum, an aquarium, and the USS Adams are just some of the key parts of this proposal.
Mark Farrell, of Killashee Investments, said the group is excited about the potential for the 70-acre site. He said right now, it’s an endless cycle keeping downtown from thriving. He said before you can put in residential units, you need a reason people want to be there, so their plan would start with the attractions, then add bars, restaurants, and retail, and finally residential and office buildings.
"There is no downtown per se. You don't go downtown to entertain. People don't fly in from out of town and stay downtown, they go to the beaches, they go to the town center area. They just bypass downtown." Farrell said. "It's an opportunity for us to elevate ourselves to a top tier city. And in the big scheme of things, the total development cost, it's not a lot of money to make an incredible impact to the city."
Included in the developmental cost and in their proposal to the city is an offer of $20 million for the property. That, he hopes, would go toward environmental remediation of the site, with the city covering the difference. The only other funding for their development from the city and taxpayers would be to extend the Riverwalk and Skyway to the area, improvements to Bay Street and utilities brought to the site.
The inclusion of the Seaglass Tower, Farrell said, would give Jacksonville an internationally recognizable landmark.
"It would be one of the most recognizable structures in the country. There's probably 10 that every person knows and says 'I've seen that,'" Farrell said.