Tag: downtown development

Jaguars shipyards proposal receives unanimous approval from City Council

Shad Khan received approval for his shipyards project by a 17-0 vote. Now, it’s time for Khan to hold up his end of the bargain.

Shad Khan’s plans to develop the downtown Jacksonville area will continue to proceed, as the Jacksonville City Council approved the plans for the development of the shipyards area 17-0 on Tuesday night.

The project, which is expected to cost $400 million to complete, will feature a Four Seasons Hotel, office space and marina facilities. The city will contribute up to $115 million in taxpayer dollars, with Khan’s company, Iguana Investments, putting in $300 million for the project.

The project is estimated to create 7,500 construction jobs and 1,500 permanent ones.

According to Jaguars president Mark Lamping, construction on the Four Seasons could begin as early as the second quarter next year, and the project is projected to be completed around December 2025.

Khan and the Jaguars recently also received approval to move forward with their $120 million practice facility upgrade near the stadium. With the shipyards project being approved, the downtown area could see even more makeovers in the coming years.

City Council Finance Committee approves Jaguars practice facility

The Jaguars’ football performance facility received approval from the City Council Finance Committee, and it will go to a vote before the full Council next week.

The Jacksonville Jaguars’ new $120 million performance facility took another step toward approval on Tuesday, as the City Council Finance Committee voted 7-0 to approve the plan to split the costs for the facility 50-50 between the team and city. According to Dave Bauerlein of the Florida Times-Union, deliberations lasted just 18 minutes.

The Rules Committee takes up the legislation on Tuesday afternoon, and the final hurdle for the project will take place next Tuesday when the full council votes for approval.

The facility, which will feature indoor and outdoor practice fields among other amenities, carries a 30-year lease, which City Council member Michael Boylen said indicates that the team is interested in staying in Jacksonville for the long haul.

“I think it’s pretty evident here when you’re looking at a 30-year commitment and a $60 million commitment by the Jaguars for this new facility, it can give all of us a great deal of comfort the Jaguars are going to be home in Jacksonville for years to go,” Boylan told Bauerlein.

After the failure of the Lot J project earlier this year, Jags owner Shad Khan has found a much more amiable position from the city government this time around. Though the new project requires final approval, it seems like a formality at this point given how easily the bill moved through the finance committee.

Shad Khan’s shipyard project advances after unanimous DIA Board vote

The proposed Lot J development failed at the City Council level. Now, Shad Khan will have another chance to woo them over.

Jacksonville Jaguars owner Shad Khan’s downtown development plan for the Shipyard took a major step forward on Wednesday, as the Downtown Investment Authority board voted 8-0 to approve $114 million worth of incentives from the city for Khan’s project, which is estimated to cost $441 million in total.

With the successful vote, the project, which will be built at the site of the Kids Kampus at Metropolitan Park near TIAA Bank Field, will advance to Mayor Lenny Curry’s Budget Review Committee and then to the city council for another vote.

A DIA committee voted 5-0 on June 25 to move the plan to this stage, and with the board’s approval, it’s closer to becoming a reality. Khan first announced the project early last month, and it includes a Four Seasons hotel within walking distance of the stadium, an office building for both team and wider commercial use as well as a nearby marina.

This proposal came on the heels of the failure of the Lot J development, the incentives deal for which did not pass the city council vote. That plan, which was supposed to be built in a parking lot west of the stadium, also included a hotel. Now, Khan will have a second chance to woo over the city council.