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Costs climb for Shad Khan's Four Seasons hotel project

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HKS Architects

Jacksonville Jaguars executives said May 11 that increased construction costs, labor shortages and site conditions at the Downtown Shipyards will increase the price of team owner Shad Khan’s proposed Four Seasons hotel-anchored development to $370 million.

That’s up from the $321 million that Khan’s development company, Iguana Investments Florida LLC, proposed to the city in mid-2021.

RELATED: See photos of the Four Seasons proposal

Jaguars President Mark Lamping and Senior Vice President of Real Estate Development Drew Frick told reporters May 11 that Iguana intends to ask the city Downtown Investment Authority for a six-month extension in the project’s performance schedule that is part of a $114 million public incentives package for the project.

Read the rest of this story at WJCT News partner the Jacksonville Daily Record.