JACKSONVILLE, Fla. — The Jacksonville City Council has approved a nearly $50 million incentive package for the Publix-anchored Pearl Square development project in Downtown Jacksonville.
The approved funding package clears the way for a major revitalization effort that includes plans for a 15-story tower featuring more than 200 apartments and a Publix grocery store.
The proposed multi-use development addresses a long-standing food access issue in the urban core. U.S. Department of Agriculture mapping shows a ‘food desert,’ with no major grocery store within a half-mile radius of Pearl Square.
Jacksonville Mayor Donna Deegan advocated strongly for the proposal, describing the project as “extraordinarily crucial” for downtown’s future.
City Council members wrestled over how to structure public funding for the project before ultimately reaching a compromise.
Under the new legislation, the city will contribute $9 million from its general fund. The amount marks a substantial decrease from an original bill, which called for $28 million in direct city grants.
To cover the remainder of the package, $19 million will come from the Downtown Investment Authority alongside other project funding sources.
City officials said incentive dollars coming from the Downtown Investment Authority will not go directly to Publix. Instead, the money will be allocated to the broader mixed-use development that anchors the store.
Deegan stressed that bringing essential commercial services to downtown residents is vital for sustained growth.
“We need to have a grocery store to help anchor this community,” Deegan said. She pointed to the lack of basic retail options in the area, adding that “there is a need for a full-service pharmacy and a grocery store down there.”
The mayor praised the council’s vote as a major step forward for the city’s broader economic health and revitalization goals.
“It’s really a great decision for our city and I’d love to be a fly on the wall in a few decades to see what this actually does for our city — it’s wonderful,” Deegan said.
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