Developer Duo Kick Off $750M Jax Project
JWB and DLP Capital have started work on Pearl Square in Jacksonville. Pearl Square is a mixed-use development that will deliver more than 1,250 new residential units; approximately 200,000 square feet of retail space; new public spaces, including widened and shaded sidewalks; public park spaces; and a signature curbless festival street with abundant outdoor dining possibilities. The development will include retail tenants like a full-service grocer, a fitness club, grab-and-go bodegas, restaurants and other daily service providers like salons and shops.
The project designer is SK+I Architecture. FaverGray is the general contractor. Leasing of the project’s retail spaces will be led by Colliers’ Urban Division.
This project represents the first phase of a broad-scale development vision. The development team has acquired holdings that span 28 city blocks in Downtown Jacksonville. At full build-out, the redevelopment is expected to create approximately 2,700 permanent jobs and spur more than $750 million in annual economic impact. The group received an incentive package of nearly $100 million.
