Earlier this year, when I said that you won't recognize Dowtnown Jacksonville in four years, I meant it. I believe that our downtown is the heart of the city and that we need a vibrant, growing core to help grow the entire community.
My team and I are committed to making that happen. To that end, I am announcing an exciting agreement for the development of the Lot J property next to TIAA Bank Field.
To learn more about this exciting partnership and what it means for our urban core, watch my full video address. You can also read the full transcript provided below:
"Hi. I’m Jacksonville Mayor Lenny Curry and I wanted to share some important news with you today.
As mayor I have been steadfast in my commitment to see every neighborhood and every family part of economic growth and development.
While exciting things are happening all over the city, I believe that our downtown is the heart of the city and that we need a vibrant, growing core to help grow the entire community.
You can’t be a suburb of nowhere, and a strong downtown contributes to a stronger community as a whole.
Our downtown residential market continues to see robust growth and businesses continue to expand downtown. In addition to this success, another key component to growing the urban core will be to enhance and grow our Sports & Entertainment District.
So, I am excited to announce I have reached an agreement for development of the Lot J property next to TIAA Bank Field. This partnership – a group led by the Jaguars leadership, Iguana development and nationally-renowned development partners – will result in more than $450 million of capital investment for the project. The terms will go to the Downtown Investment Authority and the City Council for their consideration, and I am confident they will see the great potential of this agreement.
The City of Jacksonville, as it often does for downtown development, will be a financial partner through incentives that are tied to infrastructure construction, completion-based grants and tax rebates known as Rev grants.
The result will be an amazing array of mixed-use facilities that contribute to a downtown where people can live, work and play!
This includes a new entertainment venue hosting top-notch dining and live entertainment, a new hotel, new residential building and the opportunity for a new office building.
The facilities will be centered around dynamic public spaces and will include an expansion of parking through a blend of surface parking and integrated garages.
As we look forward, this development and the removal of the elevated expressway, will add to our capacity to develop the downtown’s riverfront and will position Jacksonville for world-class events that we simply cannot compete for today.
Whether it’s downtown or any neighborhood from the beaches to the west side, Jacksonville is on the rise and our best days are in front of us."
Thank you for letting me share this exciting announcement and for your commitment to keeping our city growing."