RiversEdge breaks ground on Southbank

[acme54321]

Very interested to see what happens with the Toll Brothers townhomes. Strong sales will probably help expedite the next phase. But ironically, I think you need the retail presence there to help justify the $750k to $900k those townhouses are listed for. Have been told that Preston Hollow is comfortable eating the CDD assessments while the market matures.

I'm sure Toll Brothers wants to sell those units before anything else is constructed because as of right now they have some pretty great views of the river and downtown.  A whole lot better than looking at the back of a hotel from your rooftop patio.

The pearl debacle is so Jacksonville. So, so, Jacksonville.

[Aristocles]

I'm concerned about how good Rivers Edge is for retail - the whole development looks like a bit of a dead end or cul-de-sac, where you have to be going there to get there. That's not good for retail, which needs to be on roads that go through to other places for maximum exposure to potential customers.

[thelakelander]

I doubt there will be retail development there anytime soon. When it does materialize, it will likely require subsidies to initially get off the ground.

[Jankelope]

RiversEdge renderings were genuinely awesome, which should have been my first clue it's going to be a generic Home2Suites, a "LOFTS at RiversEdge," and a storage unit facility.

[Jagsdrew]

Preston Hollow's project in Dallas getting some backlash regarding the building's height. https://www.dallasnews.com/business/real-estate/article/developer-shortens-proposed-hotly-debated-dallas-22293336.php

[fsu813]

I just want to know what happened to the damn Pearl. Hardest story in Jacksonville to get an answer on. I don't even love the art. It's just that one day, a giant BALL was commissioned, announced, funded, and permitted on the river. Then all of a sudden, everyone started acting like THE GIANT BALL ON THE RIVER never existed. We're all been gaslit about the massive porous ball.

It was never just a ball. It was a large Seeing Stone, likely stolen from a level 5 wizard's work shop, probably east of the Paragon Mountain realm. That's a lot of sky magic to be that close to a water source - a water source controlled by Sprite, the nephew of Lord of Dark Rivers, none the less. Think of the repercussions if something went awry there. Liability.

Anyway, it would have been just a matter of time before the wizard came looking for his stone. And we all know what would happen then. We dodged a bullet.

[Joey Mackey]

https://www.news4jax.com/community/2026/08/03/whats-coming-next-to-riversedge-new-renderings-show-an-amphitheater/

Developers confirmed that the amphitheater marks the final public development at RiversEdge, and remaining vacant parcels are expected to be used for future vertical development, such as apartments or hotels, with public parking accessible to parkgoers.

We don't know why the Pearl never materialized, but confirmed it aint happening. When do we think the next vertical construction project will start? I'm guessing not until at least 2030.

[Ken_FSU]

When do we think the next vertical construction project will start? I'm guessing not until at least 2030.

My guess is also that things are going to be very slow with RiversEdge over the next couple of years. If the Related Southbank tower leases well, financing might be easier at RiversEdge, but for now, I think the best we can hope for through 2030 is maybe one mid-rise residential development breaking ground.

I think the real pickle is going to be the CDD assessments. We've already seen the Chase proposal for the School Board site fall apart because of the added fees associated with development within the district. I worry that we're going to be end up in a situation where the only way that private development at RiversEdge makes sense is if the city kicks in massive incentives to offset the CDD fees. Which, to me, isn't the best use at the moment of our limited budget.

[simms3]

Incentives should focus on getting companies to Jacksonville and bringing jobs.  We don't have high salaries for a vibrant young professional class because we don't have many of those types of jobs here.

Our "peers", who are lightyears ahead, are lightyears ahead because they have VERY vibrant economies with major corporations investing and hiring in their markets, often downtown.  We don't have that.

We don't have companies really coming here, unfortunately, and the ones we have here don't offer higher salaries en masse.

We need these downtown apartments, and hotels, and really any projects, to make sense financially, which requires much higher rents in this higher interest rate - higher construction cost environment.  And we need a rental "class" (eg young professionals) who can make enough money to afford them.  I'm afraid we don't really have that right now and we won't until we attract companies here who hire them.

Having UF's grad school campus downtown will help tremendously because it will scream "Talent Pool", but I think our chamber should be doing a lot more.  I think city leadership should be focusing more on this than individual apartment buildings, personally.