Gateway Jax, a development firm formed by the collaboration of JWB Real Estate Capital and DLP Capital, has successfully obtained all necessary approvals to move forward with their project. The Downtown Development Review Board (DDRB), under the jurisdiction of the Downtown Investment Authority (DIA), has unanimously given its approval for three blocks of this development. Pending City Council’s endorsement of its incentive package in early 2024, construction is expected to commence next year after obtaining permits.
The Pearl Street District will be developed as the initial phase on more than 20 city blocks acquired by Gateway Jax in North Core district located within downtown area. This first phase will encompass five blocks and feature mixed-use developments worth $500 million including over 1,000 multifamily residential units and retail space spanning across 100,000 square feet. The estimated total cost for completing Gateway Jax’s current downtown pipeline is over $2 billion which will be executed over a period of ten years.
