Khan, Jaguars plan for riverfront gets green light from DIA

Khan, Jaguars plan for riverfront gets green light from DIA
Rendering courtesy of HKS Inc.

Jacksonville Downtown Investment Authority gave unanimous approval July 7 to a $114 million incentive package with Jaguar owner Shad Khan for his plan to revitalize the former Kids Kampus parcel on the St. Johns River.

Khan’s development company, Iguana Investments is looking to build a $321 million development across from TIAA Bank Field. The proposal includes a Four Seasons hotel and an office building with space set aside for a renovated marina and an expanded Riverwalk. The historic Fire Museum would be moved to a location on Catherine Street.

DIA Board members said they were impressed with the plans being put forth by the development team. Board member Craig Gibbs said the plan was impressive and should alleviate any public concerns regarding greenspace and public access to the river.

“I think this deal does a good job of threading the needle in as much as you can. I know that the duPont study is a great thing,” he said. “I think the unfortunate reality is if we were to wait for everybody’s sighting and everybody’s meeting, and everybody’s public comment, and every private developers proposal, we would end up in a place where we would probably not get anything developed.”

Part of the deal stipulates that the DIA works with the Jessie Ball duPont Fund to build a replacement park for Kids Kampus within ten acres of its original location.

The DIA and Jacksonville City Council donated $60,000 to the Fund to create a Downtown Riverfront master plan to preserve public access downtown to the St. Johns River.  

Knowing they will be spearheading the design of the new park was enough to get several local environmental groups to support the plan.

Greenscape of Jacksonville Interim Executive Director Lisa Grubba said her group is excited with what Jesse Ball DuPont has envisioned.

“The preliminary plan described in the Jessie Ball duPont Fund report… advances several objectives important to Greenscape,” she said.

Grubba said she’s pleased the plan described as The Esplanade, preserves a significant portion of open space which can act as a resilient buffer to the St. Johns River. She also said she’s happy to see plans to link the riverwalk to Metropolitan Park. 

The park proposal must be approved by the state in regard to some grant restrictions, but DIA CEO Lori Boyer says it shouldn’t be a problem. She said they’ll present their proposal to state officials after the duPont plan is finalized in the coming weeks.

JAX Chamber has been strongly in support of the plan presented by the Jaguars. JAX Chamber President and CEO Daniel Davis said it’s a huge deal for the city and he’s very excited over the prospect of the development. 

The area known as the Shipyards has seen more than its share of proposed developments fall to the wayside for various economic reasons. Davis said he believes this time it will be different and the Jaguars’ plans will become a reality.

“We’ve got a lot of momentum right now,” Davis said. “You’re seeing that downtown. You’re seeing that with other projects. So, we think this is a great first step and I am looking forward to [a vote by] the City Council.”

One additional legal hurdle needs to be cleared before the plan can be sent to the Council for its approval. Boyer said other private developers have until early August to submit their own plans for the space. If no one does, and she says there has been no indication that any other company is planning to do so, the Jaguars proposal would be introduced to the Council in August with a vote possible by the end of September.

While everything appears to be heading in the right direction Jaguars President Mark Lamping said they won’t be taking anything for granted. He said there could be some minor changes to the plan but if all goes well with the City Council, Lamping said he has no doubt there will be a Four Seasons Hotel coming to Jacksonille’s riverfront.

According to the deal, Iguana must break ground on the project by next June. 

By Kevin J. Meerschaert
Resident Community News

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