The Downtown Investment Authority seeks to attract investment, facilitate job creation and increase residential density through capital investment, planning, marketing, and public-private partnerships including the provision of incentives.
Featured News
Bring Your Restaurant to Downtown Jacksonville!
Downtown Development Update Part II: Gateway Jax adds grocery, sign up at Riverfront Plaza
Here's a look at the progress of some of the developments ongoing in Downtown Jacksonville.
Gateway Jax Pearl Square
Publix and the partnership behind the Gateway Jax multiproperty development announced in early September that the grocer would open a 31,000-square-foot store in ground-floor space in Gateway’s Block N7 mixed-use development at 119 W. Beaver St.
Publix will lease space in the building for a full-service store that will include a pharmacy, they said.
The building is the former main auditorium of First Baptist Church. Gateway plans to raze it and build a 15-story residential tower with about 250 apartments and integrated parking with 400 spaces.
It is part of Pearl Square, Gateway’s $750 million development in the NorthCore area of Downtown.
In December 2024, the Downtown Investment Authority board endorsed a $2.1 million incentive package aimed at incorporating a grocery store into the Block N7 project.
In May 2025, Gateway broke ground on its second structure, a mixed-use building at 425 Beaver St. designed to include 286 multifamily units, nearly 20,000 square feet of retail space and on-site parking.
It is northwest of Gateway’s first construction site, 515 Pearl St., where construction continues after commencing in October 2024.
City Council approved a $14.1 million Recapture Enhanced Value Grant and a $6.84 million completion grant for 425 Beaver St. and a $9.06 million REV grant and $4.63 million completion grant for 515 Pearl St.
Old JEA headquarters
On Sept. 12, city-owned utility JEA selected a $1 million bid from Jacksonville-based Live Oak Contracting LLC to buy the former JEA headquarters building and transform it into a mixed-use development.
The purchase, which is pending approval by the JEA board, includes the 19-story office tower at 21 W. Church St. along with adjacent properties. Live Oak’s bid was selected over one from Jacksonville Beach-based Simple State Inc., which offered no money for the building but also submitted plans to convert it to residential and retail uses.
Live Oak’s plans include 180 residential units, rooftop amenities, office space and ground-floor uses.
In 2023, JEA moved from the old headquarters into its seven-story structure at 225 N. Pearl St., which it leases.
Two-way street restoration
July brought the completion of work to convert portions of Forsyth and Adams streets to two-way traffic, as they were originally configured before being made one-way in the mid-20th century.
Work involved installing traffic lights and signage, striping the streets and adding tree planter boxes and protected areas for streetside dining.
Work began in April 2024 on the $4.6 million restoration project. Proponents of two-way conversions say the reconfigurations reduce traffic speed and foster safer mobility for pedestrians and bicyclists, improving the livability of urban environments and promoting patronage of street-level retail stores and restaurants.
Riverfront Plaza
The city’s I Dig Jax website, jacksonville.gov/idigjax, says the first phase of the Riverfront Plaza park will open to the public in early 2026. The $38 million initial phase includes a playground on top of a pavilion building, an event lawn, new bulkhead, improved Riverwalk and plaza space connecting to the Jacksonville Center for the Performing Arts.
Work is nearing completion on the pavilion building, which will include a small café space, restrooms, mechanical rooms and storage space to support the park. Among other improvements, work has begun on a splash pad.
Construction of the second phase is expected to begin by the end of 2025. It will include a beer garden and rain garden, plus a bicycle and pedestrian connection to the Main Street Bridge.
By Ric Anderson, ReporterJax Daily Record
Downtown Development Update Part I: The Four Seasons rises, NAVI rolls out
Four Seasons Hotel & Residences
As the 10-story luxury hotel moves toward targeted completion in 2026, demolition work is poised to start at the adjacent Jacksonville Shipyards marina after the issuance of a city permit in early September.
The $2 million marina project involves demolition of existing structures and replacement of the dock.
The rebuilt marina, which is being funded by the city and built by Four Seasons developer Iguana Investments, is designed to include 78 slips for vessels 30 to 400 feet in length. There will be two water taxi slips.
‘Stadium of the Future’ transformation of EverBank
The transformation of the Jacksonville Jaguars’ home field into the “Stadium of the Future” advanced Sept. 11 with the issuance of the biggest permit yet for the project.
The city issued the “SOTF Stadium of the Future – IFC 3 Permit” at a project cost of $532.14 million. It involves bowl seating removal, electrical work, interior demolition, plumbing, mechanical infrastructure and more. The Jaguars are now opening the final – and largest – bid package.
The team says the work will not affect Jaguars home games this year. The $1.4 billion stadium project is planned for completion before the start of the 2028 NFL season.
One Shipyards Place
Scott Wilson, capital projects manager for the Downtown Investment Authority, reported to the DIA board on Sept. 17 that the six-story One Shipyards Place had been dried in, meaning windows, doors, the roof and exterior walls were completed. The Jaguars will move its team headquarters to the building, where Wilson said power has been fully connected and HVAC is operating. Iguana Investments, real estate development arm of Jaguars owner Shad Khan, is building the structure.
Completion is expected in the first quarter of 2026.
The cost for the vertical construction of the office building and adjacent hotel totals $254.3 million, growing to almost $260 million with a marina support building on the grounds.
Neighborhood Autonomous Vehicle Innovation (NAVI)
In June 2025, the Jacksonville Transportation Authority launched its autonomous passenger service along the three-mile Bay Street Innovation Corridor.
The service is offered in converted Ford vans, with human attendants at the wheel in the opening months of the rollout.
The Bay Street Innovation Corridor route cost $65 million and comprises $39.5 million in local, $13 million in state and $12.5 million in federal funding.
It is part of the Ultimate Urban Circulator, a proposed $400 million-plus system that would expand throughout Downtown and connect to surrounding neighborhoods.
JTA reported in mid-August that the NAVI service was drawing 100 to 195 riders per day. It is initially being offered at no charge, with plans to institute a $1.75 per-passenger fee beginning Oct. 1.
One Riverside
Whole Foods Market, Solidcore fitness studio and a Japanese restaurant are planned for the mixed-use development under construction at 1 Riverside Ave. in Brooklyn on the Northbank.
The city issued a permit Sept. 10 for build-out of the 38,300-square-foot Building 1000 store for the grocer at a project cost of $7.5 million.
The city issued a permit Aug. 4 for build-out of 2,104 square feet in Building 2000 for the fitness studio at $300,000.
The operator of the Norikase Japanese restaurant in Tinseltown and Beachside Seafood in Jacksonville Beach said it plans to expand there.
Pearl Hospitality Group signed a lease to operate Norikawa in space on the riverfront with a patio along the Riverwalk. It will comprise 4,500 square feet of interior space with an additional 2,000 square feet of patio dining area.
By Ric Anderson, Reporter
Jax Daily Record
Upcoming Meetings
20251113_DDRB Meeting
20251119_DIA Board Meeting
20251211_DDRB Meeting
20251217_DIA Board Meeting
Latest News
New riverfront complex brings Whole Foods, upscale Japanese dining to downtown Jacksonville
One Riverside, the new luxury apartment complex along the riverwalk has officially opened.
The mixed-use luxury apartment complex, built by Live Oak Contractors, is managed by TriBridge Residential. On Sept. 25, TriBridge held a grand opening for the 271-unit apartment complex.
According to Hans Boehm, assistant community manager at the property, who works for TriBridge Residential, said there's been there's been "a lot of interest."
"People are really excited to have a new community here that anchored by a Whole Foods retail and a future Japanese restaurant," said Boehm.
The upscale Japanese restaurant Norikase, created by Pearl Hospitality Group, takes up approximately 4,149 square feet on the apartment complex’s ground level.
"We're ready to have some riverfront dining, to bring some new life to downtown Jacksonville, in the Brooklyn area," said Justin Raulerson, managing partner at Pearl Hospitality Group. "But we can't wait."
Raulerson said they are aiming to open in either spring or summer of 2026.
When Pearl Hospitality Group signed the lease back in July, the Business Journal reported they had budgeted up to $2 million for the build-out.
Among Pearl Hospitality Group's multiple concepts, they have recently acquired Izakaya Ko and are creating a Koto, a Japanese listening bar in downtown Jacksonville.
"We just want to bring something different to Jacksonville," Raulerson said.
The community is currently at 60% occupancy and 69% pre-leased. There are 84 unoccupied units left. Boehm said he attributes this to the property's location right on the riverwalk.
"We are in a corridor where there's so much arts and entertainment, the theater district, acts and plays that come through. We have the Jacksonville Jaguars close by and Riverside and Avondale, which is a nice historic area," he said.
The Class A residential features high-end finishes in the residences, like quartz countertops, chrome plumbing fixtures and sleek white cabinetry. In addition the community pool, which overlooks the St. Johns River, a grilling area, and communal rooftop deck spaces, the community offers a podcasting room and movie theater for residents.
"I think people are craving luxury apartment communities with great amenities and great locations to their work," Boehm said.
By Leah Foreman, ReporterJax Business Journal
Pearl Hospitality's Japanese listening bar Koto approved for build-out
The effort to bring a Japanese-style entertainment concept to the former site of 927 Events downtown is moving toward construction.
A $400,000 building permit was issued on Thursday to convert the first and second floors of 927 West Forsyth St. into a listening bar called Koto.
It is a concept that will allow patrons to listen to music from vinyl records in the second floor space, while the first floor space will be more of an izakaya, or a casual pub experience, with small bites and beverage options.
The concept is the brainchild of Jacksonville-based Pearl Hospitality Group.
The group, made up of local restauranteurs Raymond De Pauda, Jeremiah Carolino, Francis Varias, John Panghulan, Nathan Ferrer and Justin Raulerson, recently took over Izakaya Ko and the former Beachside Seafood, both in Jacksonville Beach, and are behind Norikawa, an upscale eatery at One Riverside. Pearl Hospitality Group also owns and operates Norikase and Soupa Noodle Bar.
In July, Paul Sifton, the owner of the building, confirmed to the Business Journal that negotiations were ongoing.
The permit, granted to JVI Construction Group LLC, covers the conversion of use for the approximately 10,460-square-foot space.
In August, the Downtown Investment Authority approved providing Pearl Hospitality Group with $156,000 in grant funding toward its total of approximately $692,114 in build-out costs.
By Leah Foreman, Reporter
Jax Business Journal
City officials, private leaders break ground on Hogan Street portion of Emerald Trail
City and private leaders tossed emerald-tinted sand onto a Downtown sidewalk Sept. 25, marking the groundbreaking of the Hogan Street Link section of the Emerald Trail.
The Hogan Street Link, scheduled for full completion by early 2027, stretches north on Hogan Street from Riverfront Plaza to Union Street. A segment of the trail closest to the St. Johns River is set for completion by the summer of 2026.
The Emerald Trail, which is under development by nonprofit Groundwork Jacksonville, is designed to make Hogan Street more pedestrian-friendly.
Hogan Street will be narrowed to one lane of northbound traffic along with a two-way bicycle lane.
The groundbreaking marked the beginning of construction of the first phase of the trail’s development along Hogan Street. The second phase, which will extend into Springfield to Florida State College at Jacksonville, is awaiting funding.
“Sometimes it was scary, but we got to the finish line,” Groundwork Jacksonville CEO Kay Ehas said.
“Today is an important milestone in our continued momentum to complete this transformational project for our city.”
Baker Design Build led design and construction on a team with transportation engineering firm Peters and Yaffee Inc., mechanical engineering firm Haddad Engineering Inc. and land surveying firm Smith Survey Group. Scape Landscape Architecture provided design guidelines.
The Emerald Trail has opened similar portions in LaVilla and San Marco. Along with the Hogan Street Link, a portion along McCoys Creek near Lackawanna is also under construction.
The Emerald Trail is designed as a 30-mile route connecting 14 neighborhoods to Downtown, the St. Johns River, McCoys Creek and Hogans Creek. Along the route are 16 schools, two colleges and 21 parks.
“Cars have been dominant for so long in America,” Ehas said. “This trail project is trying to level the playing field for other modes of transportation like walking and biking.”
Federal grant loss slows but doesn’t stop process
In July, a $147 million grant that had been issued for the Emerald Trail under Joe Biden’s presidential administration was voided when President Donald Trump signed the One Big Beautiful Bill Act.
At the groundbreaking, Mayor Donna Deegan and Ehas said work wouldn’t stop without the federal money. Groundwork Jacksonville may have to lean more on private donations while the city continues to apply for grants.
“None of this is slowing down because of this grant. We’re going to continue to move forward,” Deegan said. “We are working diligently with the federal government right now to figure out how to put that money back, whether it’s piece by piece or all at once. We are absolutely committed to getting more federal funding.”
The Hogan Street Link received both city and private funding. VyStar Credit Union, which owns the VyStar Tower on Laura Street, sponsored the Hogan Street Link development.
“Our headquarters is just steps away from this new segment, and we see this as a defining part of the urban core,” VyStar CEO Brian Wolfburg said at the groundbreaking.
“The trail is more than just a path. It’s a symbol of revitalization and of connectivity in our city, our support is part of a larger commitment to downtown Jacksonville.”
By Joe Lister, Reporter
Jax Daily Record