Jacksonville City Council approved a revised incentive package on Tuesday that clears the way for a Publix grocery store and pharmacy to occupy the ground floor of a new 15‑story residential tower in the Pearl Square neighborhood. The deal, championed by developer Gateway Jax, was passed by an 11‑to‑8 vote after a compromise shifted funding sources and delayed two other downtown projects.
According to jaxtoday.org, the revised package reduces the cash grant taken from the city’s general fund by pulling $4 million each from the Shipyard West Park project and a proposed Riverfront Plaza restaurant, and $7 million from a previously approved completion grant for another Gateway high‑rise. The Downtown Investment Authority (DIA) will contribute an additional $4 million from property‑tax‑managed funds, while the remaining $9 million will come from the general fund. The grant is scheduled to be paid out 36 months after construction begins.
The incentive also includes a maximum $28.25 million property‑tax refund over 17 years, known as a REV grant, which council members did not contest. No taxpayer money will go directly to Publix; instead, the funds will be awarded to Gateway’s subsidiary, 119 Beaver St. W. LLC, which will build the $147.95 million project. The tower is slated to contain about 260 apartments and a parking garage serving both residents and the roughly 31,000‑square‑foot Publix space.
Council members who voted “yes” included Michael Boylan, Kevin Carrico, Randy White, Ken Amaro, Matt Carlucci, Tyrona Clark‑Murray, Ju’Coby Pittman, Reggie Gaffney Jr., Rahman Johnson, Jimmy Peluso and Moné Holder. Opponents were Council President Nick Howland, Vice President Joe Carlucci, Finance Chair Will Lahnen and members Rory Diamond, Raul Arias, Mike Gay, Chris Miller and Ron Salem. Mayor Donna Deegan, an early supporter of the project, praised the vote, saying it keeps Jacksonville’s momentum going and will generate “hundreds of millions of dollars in commercial tax revenue.”
What’s next: The mayor is expected to sign the incentive ordinance in the coming days, after which Gateway Jax plans to move forward with construction. The grant’s cash portion will be disbursed over three years once building begins, and the property‑tax refund will be phased in over 17 years, providing long‑term revenue benefits to the city.
Sources: jaxtoday.org
