RISE Doro could rebuild as early as August, receive $15 million in city incentives

JACKSONVILLE, Fla. — There’s a new push to resurrect the RISE Doro nearly five months after a fire ripped through the downtown development before it ever opened.

>>> STREAM ACTION NEWS JAX LIVE <<<

The Downtown Investment Authority is set to consider $15 million in city incentives, including grants and tax breaks to help rebuild. The resolution goes before the Strategic Implementation Committee on Friday.

[DOWNLOAD: Free Action News Jax app for alerts as news breaks]

According to the agenda packet, there was a 57% increase in the project cost compared to the 2020 budget.

The redevelopment includes a new shift towards affordable housing with 85 of the 247 units dedicated to workforce housing.

“It’s key to the city,” DIA CEO Lori Boyer said. “It also will help with all the workers working in the stadium renovation project.”

The workforce housing will also help the developers get a $3 million grant which will bring the total to $15 million in incentives, which is nearly triple the amount the development originally received in 2020 before the building burned down.

RELATED: City spokesperson said fire is under control, but what’s next for the RISE Doro apartments?

“The city has paid nothing. There’s no money out of packet,” Boyer explained. All of the money was in the form of tax rebates.

The total cost of the project in 2020 was about $65 million and received more than $5 million in incentives. This time around, it will cost a total of $79 million and get $15 million in incentives.

$1 million will come from an emergency rapid response grant because of how quickly the developers were able to demolish.

“There were businesses that were suffering in the vicinity because of the burned out building,” Boyer said. “The fact they did that as quickly as they did — compared to the Berkman example of how long that stood – we felt it was really an economic benefit to downtown and we’re supporting that.”

Boyer said construction could start as early as August and is expected to take about two years to be complete.

[SIGN UP: Action News Jax Daily Headlines Newsletter]

Click here to download the free Action News Jax news and weather apps, click here to download the Action News Jax Now app for your smart TV and click here to stream Action News Jax live.