The Downtown Investment Authority has voted 8-0 to approve terms for a $114 million incentive agreement with Jacksonville Jaguars owner Shad Khan for his plan to build a Four Seasons hotel and office building at the former Kids Kampus along the Downtown riverfront.
WJCT News partner the Jacksonville Daily Record reported DIA CEO Lori Boyer said Wednesday she expects to file legislation in August with City Council that, if approved, would finalize the deal with Khan’s development company, Iguana Investments Florida LLC, for the estimated $321 million development south of TIAA Bank Field.
Board member Todd Froats said the five-star Four Seasons will “fill a void” in Jacksonville for a high-end hotel product aimed at business and event travelers who he says often stay in neighboring Amelia Island or Ponte Vedra.
“I do think having this type of amenity here attracts certain investors, job creators and companies to Jacksonville,” Froats said.
Read the rest of this story at JaxDailyRecord.com.