Term Sheet: Plans for Lot J development in Jacksonville revealed

JACKSONVILLE, Fla. — Plans for the the highly anticipated development that aims to add more entertainment and hotels to Lot J, the area next to TIAA Bank Field, were revealed Monday afternoon.

The project includes plans for an entertainment district that would include street-level restaurants and retail, two luxury mid-rise residential buildings, a boutique luxury hotel and a surface parking lot with 700 spaces.

That entertainment venue will be a Live! District, a signature of the development partner The Cordish Companies, and City would own the venue.

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The project expects to bring economic benefits to downtown Jacksonville, including jobs and increased tax revenues and is designed to give “much-needed support of local-owned businesses, especially minority- and woman-owned entities,” according to the term sheet.

The development plans also aim to attract “events of national and international significance” to Jacksonville.

The project would be completed within 48 months of obtaining all necessary permits and approvals.

Read more about the plans for development in the document below.

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Lot J Redevelopment The Jacksonville Jaguars and the City of Jacksonville announced the new terms to the Lot J Redevelopment plan Monday afternoon. (City of Jacksonville)

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