After more than a year of negotiations, the final Master Developer and Disposition Agreement with Hillwood as the master developer for 4,475 acres at Cecil Commerce Center was approved by Jacksonville City Council, by a 16-0 vote.
In January 2009, the City of Jacksonville, through the JEDC, issued a formal request for proposals (RFP) for a developer with the experience, financial capacity and long-term commitment necessary to lead the city's development efforts of the 4,500 acres of city-owned property at Cecil Commerce Center. Of five responses received, Hillwood was selected as the top ranked developer and JEDC staff worked diligently for more than a year on contract details and negotiations.
The Texas-based firm is consistently ranked among the top developers in the country by national trade publications and has received awards from several prestigious real estate trade organizations. The company is most proud of the value its projects have created for its customers, its partners and the community.
Hillwood will have the ability to execute a long-term development strategy at Cecil by utilizing private development talent, capital resources and expertise with large-scale industrial land development. Hillwood will eventually rebrand Cecil Commerce Center as “Alliance Florida,” their nationally recognized premier brand. It is estimated that Hillwood will invest approximately $270 million of its own capital to develop infrastructure and create level, development-ready sites. The city is providing no incentives or special advantages to Hillwood.
The JEDC and City of Jacksonville are looking forward to establishing a long-term partnership with Hillwood to turn Cecil Commerce Center into a world-class commerce center and job generator.