After a few years of anticipation, the city of Jacksonville and Jaguars owner Shad Khan have reached a deal worth around $450 million for the development of Lot J at TIAA Bank Field. Jacksonville Mayor Lenny Curry took to YouTube to announce the deal Wednesday, which the city reached while working with Khan’s company, Iguana Investments Florida LLC.
The details behind the incentives Curry spoke about in the video aren’t immediately available and will need approval by the Downtown Investment Authority. The deal comes after the Jags’ “State of the Franchise” event in April, at which Jaguars president Mark Lamping discussed the importance of getting a deal done for the project, which would help both the city and the Jaguars.
During the “State of the Franchise” event, the Jags also unveiled a rendering of what the project would include on Lot J, which was a “Live” multi-use building (featuring restaurants and bars), a hotel, parking area, residential building and office building.
The company that will collaborate with the city and Iguana Investments in terms of the real estate development is Cordish Cos., which has completed similar projects around the stadiums of the Atlanta Braves, St. Louis Cardinals and Texas Rangers.
Back in 2018, we wrote an article that discussed what the development could look like for the Jags.
