What is Gateway Jax?
Gateway Jax is a Jacksonville-based commercial real estate development firm sponsored by JWB Real Estate Capital and DLP Capital and headed by Bryan Moll. It
announced last year a $500 million mixed-use development project in downtown.
What is the DIA?
DIA stands for the Downtown Investment Authority, a government agency focused on “attracting investments and increasing residential density” in Downtown Jacksonville.
What is the land swap proposal?
The
land swap proposal would essentially allow Gateway Jax to take control of Riverfront Plaza and DIA to take 801 Bay St., a proposed building for the University of Florida campus coming to Jacksonville, as equally valued properties being swapped. There are additional stipulations Gateway Jax would have to agree to in order for the deal to work as Riverfront Plaza comes with requirements around public use.
Why does DIA want 801 Bay St.? What does Gateway Jax want to do with Riverfront Plaza?
Moll said DIA wants the property for the proposed UF campus, and his company wants Riverfront Plaza to complete its vision of bringing “vibrancy to the urban core.” “It’s important from our perspective [that] there is something activating to be built along the water,” Moll said. “I’ve seen it — personally in my experiences in D.C. with the Wharf and Nationals Ballpark and in Tampa around Water Street — just how important it is to provide activating uses along the water. It draws people and it draws visitors and will contribute to the world-class downtown that we think Jacksonville can have.”
What is the timeline of the Riverfront Plaza land swap?
The next meeting about the land swap will be in front of City Council in May. The DIA board approved the land swap in a 5-2 vote almost two months ago.
How much is Riverfront Plaza worth?
An appraisal of Riverfront Plaza put it at a $5 million value.
How much is 801 Bay St. worth?
After three appraisals from DIA and Gateway Jax separately, 801 Bay St. was determined to be worth about $6.75 million. The first DIA appraisal came back at $5.5 million, according to Moll, and Gateway Jax’s first appraisal came back around $8 million.
What else is Gateway Jax doing in Downtown Jacksonville?
Gateway Jax has been working on
its first project downtown, Pearl Square , which will include 1,250 residences, 150 hotel rooms and about an acre of outdoor space in addition to the 200,000 square feet of retail space.
What is the construction at Riverfront Plaza in Downtown Jacksonville?
The former site of the
Jacksonville Landing has been under construction since July 2023 for the first phase of Riverfront Plaza. The park is expected to be completed by the end of the year, but phase two, which includes a pavilion and elevated playground, does not have a timeline yet.
What is Gateway Jax’s proposal for Riverfront Plaza?
Moll said plans include a hotel with condos on the riverfront as well as restaurants and an integration with park space. “We’re ready to go on Riverfront Plaza,” Moll said. “We’ve got a design team ready to start designing.”
What happens if the DIA and Gateway Jax land swap proposal isn’t approved?
If the land swap isn’t approved, the city would buy 801 Bay St. out of pocket, and Riverfront Plaza would go out to a Request For Proposal, or RFP, meaning another group, developer or owner could work out a deal with the city for the property. The city could also choose to keep the property, for instance, and build something else there or add nothing additional to the land.
