After failed DCPS headquarters bid, Fleet Landing proposes $372M tower in Brooklyn

JACKSONVILLE, Fla. – Fleet Landing’s first attempt to turn a prominent stretch of Jacksonville’s riverfront into a retirement community ended with the Duval County School Board rejecting its $20 million offer.

Now, the developer is pursuing another piece of the riverfront, this time across the St. Johns River in Brooklyn, with a much larger project and a request for nearly $50 million in city tax incentives.

Fleet Landing is proposing a 31-story, $372 million senior living development at 111 Riverside Avenue, where the former Haskell headquarters stands today.

But the plans go beyond senior housing. The developer is also proposing a public riverfront restaurant, retail space and a new pedestrian and bicycle connection to the Riverwalk.

The Downtown Investment Authority is scheduled to consider up to $49.3 million in property tax rebates for the project on Wednesday, Oct. 21.

The proposal raises two questions: What would Jacksonville receive in exchange for those incentives, and how does Fleet Landing’s new vision compare with the riverfront project it tried to build last year?

Previous attempt

This is not Fleet Landing’s first effort to develop a retirement community along Jacksonville’s riverfront.

In 2025, the developer offered $20 million to purchase the Duval County Public Schools headquarters at 1701 Prudential Dr. on the Southbank.

Fleet Landing wanted to demolish the existing building and replace it with a high-rise retirement community.

At the time, News4JAX reporter Briana Brownlee and photojournalist Jesse Hanson spoke with community members about what they wanted to see on the property.

Some questioned whether a retirement community was the right fit for such a prominent piece of Jacksonville’s riverfront, arguing that the location could accommodate development offering more opportunities for the broader public.

On Oct. 7, 2025, the School Board voted unanimously to reject Fleet Landing’s $20 million offer.

The decision also involved concerns about the structure of the proposed sale and the district’s plans to relocate its headquarters. The rejection was not solely a decision about the type of development Fleet Landing proposed.

A month later, the board approved a $17.2 million offer from Chase Properties, whose plans included residential, hospitality, restaurant and commercial uses. That deal subsequently fell through.

Earlier this month, the School Board approved a new $15.132 million agreement with Ashco Inc. for the Southbank property. The sale has not yet closed, and the site’s eventual redevelopment remains subject to further steps.

Fleet Landing, meanwhile, has moved forward with a different riverfront location.

What Fleet Landing wants to build in Brooklyn

Fleet Landing’s new project, called Fleet Landing Riverside, would replace the former Haskell headquarters with a 31-story tower containing 284 senior living residences.

According to information provided by Fleet Landing, the development would include 238 independent living residences and 46 residences offering additional levels of care.

The project is proposed for the Brooklyn neighborhood on the north bank of the St. Johns River.

Fleet Landing says its vision extends beyond the people who would live in the tower.

Plans include a 5,000-square-foot public riverfront restaurant with indoor and outdoor seating, more than 3,200 square feet of street-level retail space and public gathering areas.

The developer is also proposing a 40-foot-wide pedestrian and bicycle corridor connecting Riverside Avenue to the Riverwalk, along with designated public parking in a planned parking garage.

Those features are part of the proposed development and have not yet been completed or finalized.

In information shared with News4JAX, Fleet Landing CEO Josh Ashby described the project as an opportunity to create a community that connects older adults with the surrounding neighborhood and riverfront.

Conceptual renderings prepared by Gensler show how the tower and public-facing spaces could look if the project moves forward. The final design could change during the approval process.

What about the nearly $50 million in incentives?

Fleet Landing is seeking up to $49.3 million in property tax rebates over 20 years through a proposed Recapture Enhanced Value Grant.

Under that type of incentive, the developer would receive rebates based on a portion of the additional property taxes generated by the completed development.

That means the proposal is not for the city to write Fleet Landing a nearly $50 million check upfront.

According to the incentive proposal, the grant would return 75% of eligible incremental property taxes over the 20-year period, subject to the terms of the agreement.

The Downtown Investment Authority is scheduled to consider the request on Oct. 21. The proposed incentive package would also require City Council approval.

The DIA’s financial analysis estimates a return of $1.35 to the city for every $1 in incentives.

That figure is a projection, not a guaranteed financial outcome.

The proposed public restaurant, retail space and Riverwalk connection are among the elements city officials can examine as they consider the project and its potential public benefits.

News4JAX has requested the financial documents associated with the proposal to examine the incentive terms and the commitments that would be required of the developer.

What happens next?

Fleet Landing has already received conceptual approval for an earlier version of the project from Jacksonville’s Downtown Development Review Board.

In March, the board approved a preliminary design with conditions, including requests for additional details about the building’s appearance, ground-floor design and entrances.

The developer must return for final design approval.

The next major step is the Downtown Investment Authority’s consideration of the proposed tax incentives on Oct. 21.

Even if the incentives are approved, additional approvals and development steps would remain before construction could begin.

For Jacksonville residents, the proposal presents another potential transformation of the downtown riverfront, this time involving a high-rise senior living community alongside spaces the developer says would be open to the public.

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