The Jacksonville Jaguars have unveiled plans for a new mixed-use development, including the introduction of Cordish Companies as a partner.
Jaguars owner Shad Khan and his Iguana Investments have been reported to be working on development plans for the area surrounding the team’s home. That includes a mixed-use entertainment complex on what is currently known as the stadium’s Lot J, which would be one piece of what the team has estimated as a $2.5 billion development.
More details about that plan were unveiled during the Jaguars’ State of the Franchise address on Thursday. The concept calls for a development that can attract visitors on a year-round basis while serving the Jaguars and surrounding facilities, including the Daily’s Place amphitheater, the Baseball Grounds of Jacksonville–home to the Jacksonville Jumbo Shrimp (Class AA; Southern League)–and Veterans Memorial Arena.
As announced on Thursday, Cordish Companies has been introduced as a development partner. The Baltimore-based company comes to the project with plenty of experience working with similar development plans. More from The Baltimore Sun:
The multi-building development will feature more than 4 million square feet of offices, hotels and residences, as well as retail, dining and entertainment space, the Jaguars announced.
The Jacksonville project will be the latest in a string of stadium-related developed for Cordish. It’s involved in similar developments outside ballparks and sports arenas in Arlington, Texas; Atlanta; Kansas City; Philadelphia; and St. Louis.
There have been some questions about the entertainment complex’s site, as The Florida Times-Union has reported that Lot J was once the site of a fuel terminal and contamination was discovered there in the 1990s. Thursday’s announcement, however, provides more insight into the Jaguars’ plans for development and how they believe Cordish’s experience fits into that vision.
“The Cordish Companies understand the challenges and, therefore, the opportunities in reimaging downtown districts and entertainment complexes throughout the country,” Khan said in a press statement. “There are many qualities that make Cordish our choice in Jacksonville, but one in particular is the company’s ability to customize and tailor its approach to the property it will develop while being very mindful of the community it will serve. The first phase of this development will be key, and we do not think we could have chosen a better partner.”
“It is an honor to have been selected by the Jacksonville Jaguars and Iguana Investments as their development partner in this dynamic vision for the Jacksonville Sports Complex,” Blake Cordish, vice president of The Cordish Companies, said in a press statement. “We are committed to delivering a transformational world-class project that will create thousands of new jobs, attract millions of new visitors to the region, and play an important role in the revitalization of downtown Jacksonville.”
Renderings courtesy Jacksonville Jaguars.