Future of Shipyards uncertain, city remains hopeful

Jacksonville, FL. — The city is seeking new bids for the Shipyards Development in downtown, after Shad Khan’s deal allowing him to be the master developer expired.

The multimillion-dollar development would change the face of downtown Jacksonville forever.

One of the steps before development was a 40-million-dollar taxpayer project to take down the Hart Bridge Ramps.

Downtown Investment Authority CEO Lori Boyer said Khan’s company Iguana is still very interested in the shipyards property and anticipates a proposal from him.

Boyer said an official contract was never signed for development, but the deal in which Khan was the master developer has expired.

That means the DIA will now open the property not only to him but for new bids.

Boyer said the visions for the shipyards have changed over the years with modifications.

She said it is possible some of the buildings initially planned for shipyard property could end up on Lot J, or they could not.

Boyer said Khan and Iguana are pursuing a new agreement with the city, and expect a proposal in the next couple of months.

In a virtual news conference, Mayor Lenny Curry addressed questions surrounding the future of the Shipyards. 

“This is a timing issue, Iguana investment remains 100% committed to developing that area. They aren’t walking away from the deal. " Mayor Lenny Curry said. 

Iguana investment said in a statement they look forward to working with the City. 

Statement from Iguana Investments:

“Since the original Shipyards proposal was submitted and approved, the plans for Lot J came online. As a result, some of the development originally planned for the western portion of the Shipyards were incorporated into the current Lot J plans. That western portion is no longer part of the Shipyards plan, so this news from DIA is simply part of the process. We look forward to continuing to work with the City on these important projects.”

Cox Media Group