The company is asking the city for nearly $10 million over 10 years to offset operating costs, a proposal that city leaders say could have major implications

JACKSONVILLE, Fla. — EverBank could soon leave its longtime Downtown Jacksonville headquarters as the company weighs whether to renew its lease at the EverBank Center on West Bay Street.

The Downtown Investment Authority says EverBank’s lease at the 30-story tower at 301 W. Bay St. is nearing its end, and the company is asking the city for $9.8 million over a 10-year period to remain downtown. The funding would be used to help offset costs associated with parking and security.

The proposal is scheduled to go before the Downtown Investment Authority board on Feb. 18. If approved, it would then require approval from the Jacksonville City Council since the money would come from the city’s general fund.

According to the Downtown Investment Authority, EverBank is one of the largest private office tenants in Downtown Jacksonville, with representatives estimating the company staffs about 800 employees, though it is unclear how many work remotely or in a hybrid capacity.

Downtown Investment Authority CEO Colin Tarbert said losing EverBank would be a blow to the city’s urban core.

“If they chose to leave downtown, I do feel like it would be a significant setback,” Tarbert said.

Tarbert said the costs EverBank cited are tied to the expenses of operating downtown.

“Those costs are being driven by they have to pay for parking, the fact that there’s more security involved in being downtown,” Tarbert said.

City leaders say the potential move comes at a time when downtown office space is already struggling. The Downtown Investment Authority reports office vacancy on the Northbank is around 30 percent, compared with cities like Tampa and Orlando, where downtown vacancy rates are in the teens.

The situation is further complicated by the departure of another major tenant. In March 2025, Citizens Insurance announced it would leave its space in the EverBank Center, citing safety and security concerns.

During a special committee meeting on the future of downtown, some council members pushed back on the idea that safety issues are driving companies away.

“The homeless problem downtown. It is not nearly as bad as some people think it is,” City Councilman Ron Salem said.

Salem also questioned the security expenses cited in the proposal.

“I wanna know where they’re parking, what time they’re going to the parking garage, because a lot of their expenses are security, I’m sure, and I wanna understand why that’s so necessary if we don’t have the problem we used to have,” Salem said.

City Councilman Raul Arias raised concerns about setting a precedent for other downtown businesses if they grant funding to EverBank.

“What are we actually gonna be putting ourselves into in the next 10 years?” Arias said. “Because if I was an office space or some attendant here, I’ll say, well, hey, I’m also, I’m gonna relocate too. What are you guys gonna offer me, right?”

EverBank released a statement addressing the speculation about its future downtown presence. The business said, in part, “We’ve made no decisions yet about our future headquarters location in Jacksonville. One thing is certain: As we move ahead, we look forward to growing our company here and supporting the Jacksonville community.”

If EverBank were to leave, city leaders say it could raise questions about the long-term viability of keeping the building fully operational, particularly with Citizens Insurance already planning its exit.

The Downtown Investment Authority will discuss the proposal at its Feb. 18 meeting. Any final decision would then move to the Jacksonville City Council for consideration.