Gateway Jax has received approval to begin work on the first phase of its Pearl Street District development. This exciting project, with an estimated cost of $419 million, will feature 1,000 residential units and a variety of retail options. The city has granted a permit for Block 11, which is the initial stage in this five-block development.
Avant Construction has been selected as the contractor for this $45 million project. Their plans include constructing a seven-story building that will house 205 residential units and approximately 24,086 square feet of retail space. Gateway Jax is being developed by a joint venture between JWB Real Estate and DLP Capital.
The Downtown Development Review Board recently approved future plans for the district’s expansion. This includes a towering mixed-use building that will rise to twenty-two stories high and offer around 530 units in total – with about four hundred designated as multifamily residences while another one hundred forty are intended as short-term stays.
In addition to these impressive living spaces, there are also exciting commercial opportunities planned within this new structure: The ground floor alone boasts over sixty-two thousand square feet dedicated solely towards various retail establishments! Meanwhile,the second floor offers even more shopping options along with convenient parking facilities located throughout both floors two & three.
To support such ambitious growth initiatives like these at Gateway Jax ,the Jacksonville City Council unanimously approved an incentive package worth nearly ninety-nine million dollars – ensuring that construction can proceed without delay or interruption.
