Pearl Street District is officially coming to Downtown Jacksonville.
Yesterday, “Pearl Square” broke ground in Downtown Jacksonville, a multi-billion dollar development for the city.
Gateway Jax, a Jacksonville-based commercial real estate firm founded in 2022, broke ground on the project which had been originally announced in September 2023.
The project is expected to bring a multi-billion capital investment to Jacksonville’s downtown city over the next ten years.
According to News4Jax, “ground was broken at 515 Pearl Street near Church, Ashley, and Julia Streets.”
“Transformation takes experience, financial resources and relentless support,” said Bryan Moll, CEO of Gateway Jax. “Thankfully, our project has benefited from all three over the past two years.”
Pearl Square will be a seven-block development in the center of Downtown Jacksonville’s North Core Neighborhood.
The development will include:
- 1,250+ new residential units
- Boutique hotel
- 200,000 square feet of retail space
- Acre vibrant public spaces
- Parks
- Signature curbless festival street
Photo by Jax Daily Record
From Gateway Jax, “this project, which reflects a $750 million capital investment in Downtown Jacksonville, is currently under construction with delivery anticipated in 2026.”
Arriving in 2026, Pearl Square will have over 1.5 million square feet of mixed-use development.
Gateway Jax has also been involved with introducing new murals downtown, keeping with the vibrant colors of life in Downtown Jacksonville.
The project had initially been approved in an 18-0 vote late 2023 with agreement of $98.58 million in city incentives to be used to complete the first phase of the project.
“Cranes in our Downtown is the best way to properly show that we’re back,” said Jimmy Peluso, City Council Member whose District 7 includes Downtown.
“To see this type of private activity occurring in that area is really going to demonstrate to our city and to the people who are driving Jaguars games that there’s real activity here. And then when it’s operational in 2027, 2028, we’re going see thousands of new residents in our city. And that’s an exciting prospect.”
More about Pearl Square can be found here: https://www.pearlsquare.com/
Interested in homes in Downtown Jacksonville? Find properties listed here: https://www.fluidrealty.com/homes-for-sale-avondale-riverside/
Photo by Jax Daily record
