Pearl Square Project Set to Transform Downtown Jacksonville

News Summary

The Pearl Square project in Downtown Jacksonville is progressing with a $10.52 million retail development that aims to revamp the area into a community hub. Construction will create vibrant spaces for dining and shopping, while preserving the existing parking facilities. This initiative represents the first phase of a larger $2 billion investment that promises 1,160 apartments and more urban amenities in the coming years.

Exciting Development in Downtown Jacksonville: Pearl Square Project Moves Forward!

Downtown Jacksonville is buzzing with the news that Gateway Jax is moving ahead with its spectacular Pearl Square project. This initiative is set to transform the city landscape, and it all begins with a significant retail development costing around $10.52 million.

What’s Cooking at Pearl Square?

Currently, a permit application is under review for Avant Construction Group to take charge of creating some enticing retail shell space. This action is happening on the ground floor of the Pearl Street parking garage, affectionately known as the Lighthouse Garage. This isn’t just any old parking garage—it’s going to be revamped into a vibrant area for restaurants, shopping, and more!

The project sits on a hot location at 721 N. Pearl St., surrounded by Union, Julia, Beaver, and Pearl streets. According to the plans, there will be an impressive 15,277 square feet of commercial space dedicated to retail on the ground floor, catering to all your shopping and dining desires.

More Than Just Parking!

Don’t worry, the parking garage isn’t going anywhere! The existing parking functions will remain operational in other areas of the garage. Some adjustments will be made for elevator access, ensuring movement around the area is smooth and easy.

In terms of aesthetics, the recognizable lighthouse structure will retain its shape, but it will undergo a facelift by removing its spire and getting a brand new coat of paint. Also, expect to see a charming brick-and-glass facade along Beaver Street, along with new signage, vibrant geometric designs on the lighthouse, and spruced-up landscaping to give the area a lively feel.

The Pearl Street District: A Community Hub

Renderings depict the 1.5-acre block branded as the Pearl Street District, and so far, the suggested placeholder tenant is “Pub & Pizza.” While no specific tenants have been locked in, the anticipation is palpable, with five retail spaces totalling 15,300 square feet designed to enhance the community atmosphere.

Notably, these retail storefronts will create a lively scene along the Beaver Street front and at the corners of Pearl and Julia streets—imagine enjoying dinner out while soaking in the energy of Downtown.

A Solid Investment in the Future

This development goes beyond the immediate retail space. The Pearl Square project represents the first phase of a colossal investment over $400 million for Gateway Jax! Plans entail a complete vision exceeding $2 billion for the entire Pearl Square initiative. The goal? To provide 1,160 apartments, office space, and grocery-anchored retail within the next ten years—the perfect combo for residents and visitors alike.

Construction is already underway with the first building, Block N11 at 515 N. Pearl St., which broke ground back in October 2024. This building will house 205 apartments along with a splash of retail space, aiming for a mid-2026 completion. And the good news doesn’t stop there—plans for Blocks N4 and N5 are also in the works.

All Systems Go for Future Development!

As we look ahead, exciting things are set for Block N4, located at 441 W. Beaver St., which is under review for development and is expected to have both residential and retail spaces. Current developments reflect ongoing dedication, with civil engineering plans having already been submitted.

Gateway Jax’s investments, particularly with an attractive $98.58 million incentive package approved back in August 2023, highlight a commitment to enhancing the Downtown vibes. The incentive package for Block N5 included a $2.57 million grant and a $1.9 million completion grant.

With these transformative plans underway and so much to look forward to, Downtown Jacksonville is surely on its way to becoming an even more vibrant and dynamic destination. Stay tuned for more updates as Pearl Square unfolds!

Deeper Dive: News & Info About This Topic

HERE Resources

Jacksonville’s Downtown Transformation Welcomes New Residents
Downtown Jacksonville’s Gateway Jax Development Begins
Gateway Jax Development Begins in Downtown Jacksonville
New Retail Center Planned for Northwest Jacksonville
Gateway Jax Expands Development into Springfield

Additional Resources

• Jax Daily Record: Gateway Jax Preparing Lighthouse Garage
• News4Jax: Ground Broken on Pearl Street District
• Jacksonville.com: Gateway Jax Breaks Ground on First Project
• First Coast News: Gateway Jax Plans to Break Ground
• Globest: Construction Starts for Jacksonville $750M Mixed-Use Project
• Wikipedia: Jacksonville
• Google Search: Downtown Jacksonville development
• Google Scholar: Jacksonville urban development
• Encyclopedia Britannica: Jacksonville
• Google News: Jacksonville development