Committee approves $245.3 million incentives package for Jacksonville Lot J development

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A  Jacksonville City Council Committee of the Whole has approved a $245.3 million taxpayer-backed incentives package for Jacksonville Jaguars owner Shad Khan’s proposed Lot J entertainment and retail venue west of TIAA Bank Field, reports JAX Daily Record.

The $450 million development is a partnership between the city, Gecko Investments and The Cordish Companies.

Plans call for a courtyard-style entertainment and retail complex, a residential tower, hotel and office building next to the stadium. The $450 to $50-million phase I of Lot J is made up of the Live! Arena entertainment venue, a 200-unit boutique hotel and 700 residential units.

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Phase II is west of Lot J at what is a retention pond at North Georgia St. and Gator Bowl Boulevard and includes a high-rise residential tower and a mixed-use office/residential tower.

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