News Summary
Groundbreaking for the Gateway Jax mixed-use project at 425 Beaver Street is scheduled for May 29. This development will include 286 residential units, 20,000 square feet of retail space, and parking, marking a significant investment in urban revitalization. Future expansions will see more than 1,250 residential units and 200,000 square feet of retail space in the Pearl Square district, enhancing community engagement and supporting local businesses. The initiative aims to promote Jacksonville as an attractive urban center.
Jacksonville – Groundbreaking for a significant mixed-use development at 425 Beaver Street, part of the Gateway Jax project, is set for May 29. This new initiative will bring 286 multifamily residential units, nearly 20,000 square feet of retail space, and a parking garage to the downtown area, reinforcing the city’s commitment to urban revitalization.
The new building, previously referred to as Block N4, will feature a seven-story structure and is surrounded by Union, Pearl, Beaver, and Clay streets. This project is located two blocks north and one block west of another mixed-use development called Block N11, currently under construction at 515 N. Pearl Street, which carries a price tag of $45 million and will include 205 apartment units alongside over 24,000 square feet of retail space.
Future plans for the area are expansive, with Gateway Jax announcing that multiple additional buildings in the Pearl Square district are expected to commence in late 2025 and 2026. The full Pearl Square development aims to include more than 1,250 residential units and approximately 200,000 square feet of retail space, along with a boutique hotel featuring 100 keys and a curbless festival street designed to enhance community activities.
Among the anticipated retail tenants within the Gateway Jax development are a full-service grocery store, a high-end fitness club, grab-and-go bodegas, various restaurants, salons, and shops, which aim to attract residents and visitors alike. The entire Gateway Jax initiative represents a substantial capital investment, with projections estimating $2 billion to be allocated over the coming decade.
Leadership at Gateway Jax emphasizes the importance of downtown development as a means of enhancing Jacksonville’s appeal by integrating local history, culture, and waterfront access. The partnership behind Gateway Jax consists of Bryan Moll, JWB Real Estate Capital, and DLP Capital. Project contributors for the 425 Beaver Street development include skilled professionals from SK+I Architecture, Elks Manfredi Architects, Ltd., Cecconi Simone interior designs, SK&A Structural Engineers, Lighthouse mechanical, electrical, and plumbing engineers, and civil engineers from England-Thims & Miller (ETM). Faver Gray, based in Jacksonville, will serve as the general contractor, while Hoerr Schaudt will design public spaces and parks for the development.
In August 2024, the Jacksonville City Council approved a substantial $98.58 million incentive package benefiting the Pearl Square district. This financial support includes several grants dedicated to enhancing the area, including detailed allocations such as $14.1 million Recapture Enhanced Value Grant for Block N4, along with additional grants for related projects in adjacent blocks. For instance, Block N5 will receive grants totaling approximately $4.5 million for redevelopment efforts, Block N8 has a commitment of nearly $60 million for a future 21-story building containing at least 508 residential units, and Block N11 is set to benefit from over $13 million in grant funding.
As part of the Gateway Jax vision, plans are also underway for the restoration of the historic Ambassador Hotel located at 420 North Julia Street. This restoration project aims to incorporate upscale hospitality amenities, develop a boutique hotel with a high-end restaurant and bar, and construct parking facilities to serve hotel guests. Integrating the Ambassador Hotel into the broader Pearl Square project is a central focus of this initiative.
Additionally, the first phase of the Riverfront Plaza has been in construction since July 2023, with expectations to complete this segment by the end of the year. The ongoing developments and planned future expansions reflect Jacksonville’s strategy to reshape its downtown into a vibrant, appealing urban center for residents and tourists.
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Additional Resources
- Jax Daily Record: Groundbreaking for Second Gateway Jax Project Set for May 29
- Wikipedia: Jacksonville
- Jacksonville.com: Gateway Jax is Working on a Proposal to Swap Land Ownership Downtown
- Google Search: Gateway Jax
- The Jaxson Mag: Gateway Jax Announces Ambassador Hotel Plans
- Google Scholar: Urban Development Jacksonville
- Jax Daily Record: Gateway Jax Preparing Lighthouse Garage Downtown for Commercial Space
- Encyclopedia Britannica: Urban Revitalization
- Jacksonville.com: Gateway Jax Partner Legal Issues Should Give City Pause in Land Swap Deal
- Google News: Jacksonville Urban Development
Author: STAFF HERE JACKSONVILLE WRITER
JACKSONVILLE STAFF 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.
