The proposed $182.2 million redevelopment of the former Florida Times-Union campus along Riverside Avenue is moving forward.
The Downtown Investment Authority Strategic Implementation Committee voted unanimously Aug. 16 to advance the proposal for consideration by the DIA board of directors, according to WJCT News partner the Jacksonville Daily Record.
The DIA board meets at 2 p.m. Aug. 18 at City Hall.
Atlanta-based Fuqua Development LLC is proposing One Riverside Avenue, a $182,214,847 project comprising multifamily residential with a parking garage, retail space, grocery store and surface parking.
The project name reflects the 1 Riverside Ave. address of the former Times-Union newspaper offices and production facility. The paper’s staff has moved to Wells Fargo Center Downtown.
Under the proposal, city incentives would be no more than $30,844,140, comprising $28.4 million in Recaptured Enhanced Value grants, property transferred from the city to Fuqua and a mobility fee credit.
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