Shad Khan’s plans to develop the downtown Jacksonville area will continue to proceed, as the Jacksonville City Council approved the plans for the development of the shipyards area 17-0 on Tuesday night.
The project, which is expected to cost $400 million to complete, will feature a Four Seasons Hotel, office space and marina facilities. The city will contribute up to $115 million in taxpayer dollars, with Khan’s company, Iguana Investments, putting in $300 million for the project.
The project is estimated to create 7,500 construction jobs and 1,500 permanent ones.
Incredible news for Jax. City Council votes unanimously to approve the @Jaguars’ proposal for development on the Shipyards property. The team estimates the project will create 7,500 construction jobs and 1,500 permanent jobs. #DTJax #ilovejax pic.twitter.com/Wf01nUVH4Z
— JAX Chamber (@JAXChamber) October 13, 2021
According to Jaguars president Mark Lamping, construction on the Four Seasons could begin as early as the second quarter next year, and the project is projected to be completed around December 2025.
Khan and the Jaguars recently also received approval to move forward with their $120 million practice facility upgrade near the stadium. With the shipyards project being approved, the downtown area could see even more makeovers in the coming years.
