RELATED | Community opposition helped pump the brakes on plan to sell DCPS Riverfront property. What\u2019s next?<\/a><\/p>\nA 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.<\/p>\n
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\u2019s eventual redevelopment remains subject to further steps.<\/p>\n
Fleet Landing, meanwhile, has moved forward with a different riverfront location.<\/p>\n
What Fleet Landing wants to build in Brooklyn<\/p>\n
Fleet Landing\u2019s new project, called Fleet Landing Riverside, would replace the former Haskell headquarters with a 31-story tower containing 284 senior living residences.<\/p>\n
According to information provided by Fleet Landing, the development would include 238 independent living residences and 46 residences offering additional levels of care.<\/p>\n
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Fleet Landing Proposed Brooklyn Tower (Copyright 2025 by WJXT News4JAX – All rights reserved.)<\/p>\n
The project is proposed for the Brooklyn neighborhood on the north bank of the St. Johns River.<\/p>\n
Fleet Landing says its vision extends beyond the people who would live in the tower.<\/p>\n
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.<\/p>\n
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.<\/p>\n
Those features are part of the proposed development and have not yet been completed or finalized.<\/p>\n
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.<\/p>\n
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.<\/p>\n
What about the nearly $50 million in incentives?<\/p>\n
Fleet Landing is seeking up to $49.3 million in property tax rebates over 20 years through a proposed Recapture Enhanced Value Grant.<\/p>\n
Under that type of incentive, the developer would receive rebates based on a portion of the additional property taxes generated by the completed development.<\/p>\n
That means the proposal is not for the city to write Fleet Landing a nearly $50 million check upfront.<\/p>\n
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.<\/p>\n
The Downtown Investment Authority is scheduled to consider the request on Oct. 21. The proposed incentive package would also require City Council approval.<\/p>\n
The DIA\u2019s financial analysis estimates a return of $1.35 to the city for every $1 in incentives.<\/p>\n
That figure is a projection, not a guaranteed financial outcome.<\/p>\n
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.<\/p>\n
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.<\/p>\n
What happens next?<\/p>\n
Fleet Landing has already received conceptual approval for an earlier version of the project from Jacksonville\u2019s Downtown Development Review Board.<\/p>\n
In March, the board approved a preliminary design with conditions, including requests for additional details about the building\u2019s appearance, ground-floor design and entrances.<\/p>\n
The developer must return for final design approval.<\/p>\n
The next major step is the Downtown Investment Authority\u2019s consideration of the proposed tax incentives on Oct. 21.<\/p>\n
Even if the incentives are approved, additional approvals and development steps would remain before construction could begin.<\/p>\n
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.<\/p>\n
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