Texas-based group proposes 'Sea Glass by the Shipyards' for Jacksonville

JACKSONVILLE, Fla. — They aim to make Downtown Jacksonville a year-round destination, while also putting the city at large on the map.

Texas-based Presidium Group LLC is one of three companies who have entered proposals to redevelop the Jacksonville Shipyards and adjacent riverfront property. They're partnering with Ponte Vedra Beach's Killashee Investments LLC on their concept called "Sea Glass at the Shipyards."

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Killashee’s Mark Farrell designed the core of this concept years ago and considered putting it in the mix during the proposal process in 2015, but at the time, he says, he didn’t have a partner. He’s working with Presidium on a Town Center apartment project already, and he said when they found out about the Shipyards site, they were committed.

“They really like Jacksonville. They really like the waterfront, Downtown, the opportunity. They see the potential Jacksonville has, and so they wanted to throw their hat in the ring,” Farrell tells WOKV.

Their proposal focuses first on boosting entertainment options that are available on a daily basis year-round, including the USS Adams Museum, an aquarium, a fine art Museum and Sea Glass Tower. The Tower is a 1,000-foot-tall structure that includes a two-level restaurant and observation deck.

“It would be the iconic structure that this city would need to finally get it on the map and become a top-tier city,” Farrell said.

The idea is to bring people Downtown consistently, as opposed to for big events only. Once the demand starts to build, Farrell said, hotel, residential and retail space will follow.

“It’s like dominoes. The hardest part is getting it started, but once you get it started, then it goes,” he said.

The proposal also includes a convention center, a food truck court, a market, a business incubator and other features. Much of it was in Farrell’s initial concept, but they’ve expanded it to fit the larger space the city is now seeking to redevelop.

Prior redevelopment efforts have focused solely on the Shipyards parcel. Iguana Investments Florida LLC, on behalf of Jaguars owner Shad Khan, won the prior bid process, but negotiations on his development plan ultimately stalled out and in December 2016, the Downtown Investment Authority voted to reissue the request for proposals. This time, they were requesting developers for the 70-acre site that included the Shipyards and Met Park.

Khan has submitted a proposal once again. A third proposal was submitted by Wess Holdings LLC. WOKV has reached out to see if they are willing to share bid details at this time. The proposals themselves will not be made public during this early vetting phase.

Farrell said they know they have stiff competition in Khan, but the developers are excited.

“They said, 'You know, if we don’t shoot for the moon, why are we here?' And I said, 'You know what, you’re right,'” he said.

Presidium will offer to buy the property for $20 million, according to Farrell. He says many of the entertainment features already have partners lined up to help with funding, and they would seek standard arrangements for the residential and retail portions. They’re requesting the city address the environmental concerns on the site, continue the Riverwalk, ensure utilities are brought on-site, help with zoning and beautify Bay Street. They’re also pushing for the extension of the Skyway into the area, although Farrell says their bid will not depend on that.

Cox Media Group