Gateway Jax, a development group, has been strategically acquiring downtown parcels to ensure the critical mass needed for their upcoming project. The ambitious project aims to add 1,000 apartment units and a significant amount of retail space.
According to the Jacksonville Business Journal, Gateway Jax is led by experienced investors from DLB Capital and JWB Real Estate. The North Core location chosen for this venture has potential value estimated at $2 billion over the next decade.
The first phase of construction is expected to commence in mid-2024 and will transform four blocks on the outskirts of downtown into five buildings centered around Pearl Street. This prime location also includes properties between Union and Church Streets near Florida State College’s downtown campus.
Gateway plans for future expansion throughout the urban core with nearly 24 acres already acquired in North Core as well as LaVilla and Cathedral Hill – all central areas within Downtown Jacksonville.
