Melissa Ross
Downtown Investment Authority CEO Aundra Wallace denies that Shad Khan has the inside track on his proposal to develop Jacksonville’s vacant Shipyards property- even though 40% of the evaluation criteria is based on “respondents’ financial capacity.”
“That is absolutely not the case,” says Wallace, who will evaluate proposals along with two other members of the DIA Evaluation Committee.
Khan, the Jaguars owner, is famously deep-pocketed. He is now one of three applicants who have submitted bids to revitalize and redevelop the long-vacant and contaminated parcel on the city’s Northbank Riverwalk.
Under Khan’s plan, his company Iguana Investments Florida would act as master development of the mixed-used project, which would feature a waterfront hotel, amphitheatre and office space, not to mention an enclosed practice facility for the Jags, retail, restaurants and a marina.
Khan wants the city to give him the site, while assuming liability for any environmental cleanup and mitigation costs. Those are expected to be considerable given the land’s former life as a shipyards site.
The other bidders are the Jacksonville-based Shitaki Enterprises, which envisions a luxury yacht boatyard, and new entry In Him, Inc., whose owner wants to give the prime riverfront property a Christian theme- complete with a Noah’s Ark replica standing where ships used to be repaired.
Wallace says negotiations with the winning bidder will commence in May.
“It’s an important step for downtown Jacksonville and the opportunity is here now.”
