Florida: Massive investments around stadium in Jacksonville
source: StadiumDB.com [TS]; author: Tomasz
In early June, the Jaguars officials announced 1st DownTown Jacksonville. This is a city center transformation plan that will lead to a variety of new buildings around TIAA Bank Field.
New facilities for Jaguars
From the NFL club's point of view, the most important of the proposed changes is a 125,000-square-foot football performance center for $120 million. The city of Jacksonville and Jaguars would split the costs of the investment in half. The center is to be built around TIAA Bank Field.
New facilities would include locker rooms, team and positional meeting rooms, training and recovery areas, medical support facilities, weight room, dining facilities, office space and a draft room.
Jaguars owner Shad Khan intends to build two full-size grass practice fields and a full-size indoor practice pitch. Public viewing stands, restrooms, concession areas and a team store are also part of the investment.
Moreover, It’s planned to create a Four Seasons Hotel and Residences, an office building, a marina and orthopedic sports medicine. Shad Khan wants to pursue these plans with Iguana Investments Florida LLC.
Jaguars want to stay longer in Jacksonville
These investments are part of a long-term strategy that would include upgrading TIAA Bank Field in the future. The lease contract for the stadium expires in 2030 and Jaguars would like to extend it with the city. Expanding the infrastructure around the arena would certainly help to negotiate a new deal and keep Jaguars in Jacksonville.
The NFL club hopes to complete construction of the performance center by summer 2023. Other projects are to be completed by 2025 and the total cost is $441 million. The implementation of all plans requires the consent of the city council.
The club from Jacksonville received a negative decision from city officials in January this year when it proposed other improvements. This time the chances of a positive outcome seem to be bigger. The investments will be implemented in phases on the basis of public-private partnership.
Author: Tomasz Sobura