Jacksonville Jaguars owner Shad Khan’s downtown development plan for the Shipyard took a major step forward on Wednesday, as the Downtown Investment Authority board voted 8-0 to approve $114 million worth of incentives from the city for Khan’s project, which is estimated to cost $441 million in total.
With the successful vote, the project, which will be built at the site of the Kids Kampus at Metropolitan Park near TIAA Bank Field, will advance to Mayor Lenny Curry’s Budget Review Committee and then to the city council for another vote.
A DIA committee voted 5-0 on June 25 to move the plan to this stage, and with the board’s approval, it’s closer to becoming a reality. Khan first announced the project early last month, and it includes a Four Seasons hotel within walking distance of the stadium, an office building for both team and wider commercial use as well as a nearby marina.
This proposal came on the heels of the failure of the Lot J development, the incentives deal for which did not pass the city council vote. That plan, which was supposed to be built in a parking lot west of the stadium, also included a hotel. Now, Khan will have a second chance to woo over the city council.