News Summary
The city of Jacksonville is exploring a significant financial incentive of $4.6 million to aid the development of the Jacksonville Surf Park, a project by Aventuur Inc. Rising construction costs, reportedly over 20%, threaten its viability. The surf park is set to occupy 5.5 acres within a larger 45-acre development and aims to create around 100 new jobs, along with various features for surf enthusiasts. The proposal will be reviewed on September 8, 2023, with the potential for city council approval following that meeting.
Jacksonville is considering a major financial incentive of $4.6 million to support the development of the proposed Jacksonville Surf Park. The developer, Aventuur Inc., recently reported that rising costs could jeopardize the project, prompting city officials to explore intervention measures.
The surf park is planned to occupy 5.5 acres as part of a larger 45-acre development known as eTown in South Jacksonville. Currently, the total estimated capital investment for the project stands at $100 million. However, changes in construction cost projections, which have reportedly increased by more than 20% due to recent geotechnical studies, have caused concern for the project’s viability.
To mitigate these financial challenges, the city’s Office of Economic Development (OED) is seeking approval for a 10-year, 75% Recaptured Enhanced Value Grant (REV Grant). This grant would not exceed $4.6 million and is designed to refund a portion of the ad valorem tax revenue generated by the new development. The proposal will be discussed at the Mayor’s Budget Review Committee meeting scheduled for September 8, 2023. If successful, it will move forward for consideration by the Jacksonville City Council.
The surf park is projected to generate approximately 100 new jobs, with an average annual salary of $50,000 not including benefits. In addition to the permanent positions, the project is expected to create numerous construction jobs during its development phase. The anticipated return on investment is estimated at $1.36 for every dollar spent.
The OED’s memo regarding the proposal emphasized that the revised cost estimates presented by Aventuur put the entire project’s future at risk. However, specific details regarding the challenges faced during the geotechnical assessments were not disclosed in the memo.
Beyond the surf park, Aventuur plans to include multifamily residential and retail spaces in the development. The land designated for the surf park was purchased in June, with construction slated to commence in early 2026. Once completed, it will be recognized as the first surf park in Florida, strategically located southwest of the Florida 9B and Interstate 295 interchange.
The Jacksonville Surf Park is part of an overarching master plan developed by The PARC Group, which was notably rezoned to a Planned Unit Development (PUD) in February of this year. The project aims to offer “consistent, ocean-like surfing experiences” that cater to surfers of all skill levels within a safe and controlled environment.
Efforts have been made to ensure the project prioritizes environmental sustainability, including plans for native landscaping, the preservation of existing vegetation, and the usage of recycled materials. The surf park is expected not only to serve surf enthusiasts but also to provide greater surfing opportunities for Jacksonville residents.
Planned features of the surf park include a Wavegarden Cove lagoon, dining options, a surf academy, and a wellness studio. The goal is to have the surf park operational by late 2027, contingent upon receiving the necessary approvals and completing construction.
The master plan for the surf park also envisions additional entertainment venues, retail outlets, and green spaces, crafting a vibrant community hub. The development team consists of seasoned developers and surfing aficionados with strong ties to the Jacksonville area. The CEO of Aventuur anticipates that the project will engage an expanding market for surf parks across the U.S., meeting the growing demand for surfing experiences. Collaboration with local surfing communities and business leaders has been emphasized to align the project with Jacksonville’s rich surf culture and community values.
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Additional Resources
- Jax Daily Record: Surf Park Developer Says Project is in Jeopardy
- Encyclopedia Britannica: Surfing
- Jax Daily Record: Catching the Wave: Jacksonville Surf Park Meant to Be
- Google Search: Surf Park Development
- Jax Daily Record: City Planning Commission Endorses Rezoning for Jacksonville Surf Park
- Google News: Jacksonville Surf Park
- Travel and Tour World: Adelaide’s Surge in Indian Incentive Groups
- Visit Jacksonville: Meetings Incentives
- CNET: Florida Solar Panel Incentives, Rebates, Tax Credits, Financing, and More
- Florida Politics: Duval Local Bills
Author: STAFF HERE JACKSONVILLE WRITER
The JACKSONVILLE STAFF WRITER represents the experienced team at HEREJacksonville.com, your go-to source for actionable local news and information in Jacksonville, Duval County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Jacksonville Jazz Festival, Riverside Arts Market, and World of Nations Celebration. Our coverage extends to key organizations like the Jacksonville Chamber of Commerce and JAXUSA Partnership, plus leading businesses in logistics, healthcare, and entertainment that power the local economy such as CSX Corporation, Baptist Health, and VyStar Credit Union. As part of the broader HERE network, including HEREOrlando.com, HEREStPetersburg.com, HERETallahassee.com, and HERETampa.com, we provide comprehensive, credible insights into Florida's dynamic landscape.
