On Tuesday, The Downtown Investment Authority selected the $500+ million proposal by an investment group owned by Jaguars’ owner Shad Khan to develop the vacant Shipyards property along the Jacksonville riverfront near the Sports Complex. The DIA decided on Khan’s development plan based on factors that include alignment with the city’s vision, developer qualifications, experience and developer financial strength. Iguana scored the highest in all categories.
The DIA must now negotiate terms of a contract and it be approved by City Council before any development can begin.
One problem that could stand in the way the current pension crisis. That would need
to be solved for the project to work.