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RiversEdge Development Transforms Jacksonville Riverfront

Overview of RiversEdge development featuring townhomes and parks in Jacksonville

News Summary

Jacksonville’s RiversEdge development is making waves as it transforms the former JEA power station site into a lively mixed-use area. With the first residents now settling in, the project promises 750 multifamily units, parks, retail spaces, and a marina. The city anticipates enhanced community experiences with multiple public parks. As construction progresses, the finished project is expected to greatly impact both the locals and the city’s economy with substantial tax revenues, creating a vibrant urban oasis along the riverfront.

Exciting Times Ahead for Jacksonville with RiversEdge Development

The city of Jacksonville is buzzing with excitement as the long-awaited RiversEdge development is moving forward, bringing with it the promise of vibrant living spaces, recreational parks, and bustling shops. This ambitious project is transforming the former site of the JEA power station on the Southbank into a lively mixed-use area that’s set to change the face of the downtown riverfront.

First Residents Have Arrived!

The developers, Toll Brothers, have been hard at work, and the fruits of their labor are already evident, with the first residents settling into their newly constructed townhomes. These townhomes provide a cozy and modern living space for newcomers looking to enjoy all that this exciting development has to offer. If you’re in the market, there are also additional listings available, ideal for those eager to find their new home right away—quick move-in options are priced between $694,995 and $843,990.

An Urban Oasis is Taking Shape

The project is part of a grand vision that will ultimately include 750 multifamily units, 200 condominiums, and 200 hotel rooms, alongside a stunning 125-slip marina. The development will not only cater to residents but also attract visitors with 200,000 square feet of office space and 120,000 square feet of retail opportunities, creating a comprehensive urban environment.

Four Parks for Fun and Relaxation

But it’s not just about housing and shopping; RiversEdge aims to enhance the community experience with four public parks. Each park is designed with specific features to appeal to a wide range of interests:

Central Park: This beautiful riverfront park will boast a pavilion, amphitheater, and plenty of green spaces complete with trees and engaging artwork.
Northwest Park: Perfect for family fun, this park will have synthetic turf, swings, game tables, benches, and bike racks to encourage outdoor activities.
Northeast Park (Fitness Park): A health-conscious space that will feature playgrounds and even a yoga lawn for those looking to unwind.
Marshfront Park: A serene spot with winding paths weaving through native flora, an herb garden, and a synthetic lawn for relaxation and exploration.

Roads and Pathways—Almost Ready!

In addition to the beautiful parks, public roads are being developed within RiversEdge, including an extension of Prudential Drive. While they are complete, they are not yet open to the public, as construction remains in full swing. It’s important to note that these areas are still considered active construction sites, meaning public access is restricted for safety reasons. However, the anticipation is building as parks are expected to open as early as May 2025, followed closely by streets and sidewalks.

Investment and Economic Impact

This ambitious RiversEdge project comes with a hefty price tag, estimated at around $693 million, a significant rise from initial projections of $280 million mainly due to increasing construction costs. To support this development, the city has granted a Recapture Enhanced Value grant totaling over $97 million, providing a 75% rebate on future property taxes until 2045. The project is projected to generate approximately $130.7 million in ad valorem property taxes, making it a sound investment for the city.

The Future is Bright

As RiversEdge continues to evolve, the excitement surrounding this redevelopment is palpable. With new homes, public parks, and a host of recreational options, Jacksonville residents have a lot to look forward to in the years ahead. Keep your eyes peeled as this urban oasis takes shape right along our picturesque riverfront.