Retention Pond Adjacent to TIAA Bank Field to be Developed?

[Ken_FSU]

This is a curious one.

A retention pond near TIAA Bank Stadium could be developed.



Developer A R Polar Jacksonville LLC, which owns a 20-acre property nearby, is seeking to purchase a 5-acre city-owned retention pond. The retention pond parcel is part of a 14.38-acre property that the city owns located between Gator Bowl Boulevard and the St. Johns River.

At its Wednesday meeting, the Downtown Investment Authority's Retail Enhancement and Property Disposition committee will consider the matter of issuing a 30-day notice of disposition for the property.

The proposed deal would include more than just a simple sale.

According to the committee agenda, A R Polar would need to provide the city with portions of the property it already owns at 1746 East Adams St. that could serve as a replacement retention pond and a riverfront site to accommodate construction of a new marine fire station. That would be a replacement of the fire station displaced by Shad Khan's plans for a riverfront luxury hotel and office building.

In return, the city would construct a new access road along Festival Park Avenue that would provide access to the parcel.

No details were given as to the type of development planned at the parcel if the deal is finalized.

Story: https://www.bizjournals.com/jacksonville/news/2022/04/12/dia-to-consider-site-disposition-near-tiaa-bank-fi.html

[thelakelander]

Interesting. This one is worth following. I'm also interested to learning what the shipyard (the real one at Commodore Point) improvements will be.

[acme54321]

A R Polar owns the parcel that is immediately adjacent to the east of this one and forms and L around it, along the river and up the west side of Bryan St to Adams.  Interested to see what's going on there...

[Ken_FSU]

More details:

https://www.jaxdailyrecord.com/article/dia-working-with-private-land-owner-to-relocate-marine-fire-station

[thelakelander]

Have you heard anything regarding the sentiment of having a major shipyard near a Four Seasons hotel?

[Ken_FSU]

Have you heard anything regarding the sentiment of having a major shipyard near a Four Seasons hotel?

Probably isn't any worse than having a Four Seasons hotel next to a prison and smoldering brownfield.

I 100% get the sense that the Four Seasons is happening, and that Four Seasons has a strong enough relationship with Shad Khan (and his wallet) that they're willing to let him try it out.

Also get the sense that the Jags recognize that in the absence of a Lot J type adjacent development, a high-end hotel is gonna have a rough go of it.

Khan's past few ventures (including the Black News Network, which just folded) haven't exactly turned a profit, and if the Jags were run like a normal business, he would have been ousted a long time ago, so hopefully the hotel is different.

For what it's worth, the Jags have apparently decided to stop doing their annual state of the franchise event (per Ben Becker).