Jacksonville’s Downtown Investment Authority approves Ford on Bay development

Jacksonville, FL — On Friday, Jacksonville’s Downtown Investment Authority gave the green light to develop the land where the old courthouse and annex used to stand.

Right now, two lots on prime riverfront property are empty. One lot sits behind the Hyatt. The other lot is right on the water next to the Berkman Plaza.

The DIA signed off on the Spandrel Group’s $136 million vision called the Ford on Bay.

There would be restaurants, lofts, retail space and a lot of pedestrian space built in two phases. The first phase would happen on the property right on the water. The second phase involves the lot next door, but there’s a catch – the Hyatt has the right of first refusal to buy the land. If it doesn’t, Spandrel can get the land and start phase two.

Action News Jax’s Paige Kelton drove by the lots today and found signs that development could soon be in the works.

Fences were up around the property Friday.

Spandrel wants the city to give it the property to develop. That aspect is still being worked out.

The Jacksonville City Council must still sign off on the referendum approved by the DIA.