Developers of The District Given Extra Time To Finalize Deal With JEA

Nov 28, 2017

Developers of a Southbank, multi-use development — called The District — are getting an extra 90-days to hammer out a deal to purchase land from JEA.

The utility’s board voted to do so over the objections of Councilman Matt Schellenberg, who said the three  years since negotiations began was enough time to finalize a deal.

The board also changed how the $18 million dollar piece of property would be paid for — allowing the City of Jacksonville to foot the bill for the project. It’s not clear whether the city would split the cost with developer Peter Rummell or how. It’s also unclear why the city has agreed to pay.

The city council will have to agree to the plan before it moves forward.

On Monday, The District’s developers announced a deal to build a HC Hotel by Marriott on the mixed use site.

Monday’s announcement said the plan was to start horizontal site work on The District during the first quarter of 2018.

Ryan Benk can be reached at rbenk@wjct.org, 904-358-6319 or on Twitter at@RyanMichaelBenk.