Gateway Jax has received approval for the first phase of its $419 million Pearl Street District project. This development, a joint venture between JWB Real Estate and DLP Capital, will bring 1,000 residential units and thousands of square feet of retail to the area.
The city has granted a permit for Block 11, which will be constructed by Avant Construction at a cost of $45 million. This seven-story building will include 205 residential units and 24,086 square feet of retail space.
In addition to this initial block, future plans have been approved by the Downtown Development Review Board. These plans include a mixed-use building with about 530 units spread over 22 stories. Of these units, approximately400 will be multifamily residences while another140 are designated as short-term stays.
The ground and second floors of this new building will feature around62 ,000 square feetof retail space while additional parking can be found on the secondand third floors.
To support this exciting development in downtown Jacksonville,the City Council has approved an incentive package worth$98 .58millionforthe district’s construction.
