JACKSONVILLE, Fla. — A potentially multi-billion dollar development project for Downtown Jacksonville took a major step forward on Wednesday.
The Pearl Street District, a series of residential and development projects on the northern edge of downtown on Pearl Street, was approved by a second city council committee.
Wrappings on a fence surround four distinct sites in Downtown Jacksonville and the developer told city council that this project will transform the city.
"We truly see the opportunity in what we're able to do," said Bryan Moll, CEO of Gateway Jax.
Moll spoke before Jacksonville City Council's Neighborhoods, Community Services, Public Health & Safety Committee to make his pitch for the Pearl Street District.
Four sites near the intersection of Pearl and Beaver streets are proposed to be transformed from surface parking lots to mixed-use residential and retail spaces.
"We'd only be able to do this at scale and by doing these projects at once," said Moll, "ultimately this will benefit far beyond our project, it will benefit all of downtown and the city."
"I think it's going to be nice, I think it'll bring more opportunities for jobs and stuff like that," said Clarence Hall, who lives near all four proposed sites and welcomes new development to his neighborhood, "I think it's going to be awesome to see new people come in."
One of the development sites is on the corner of Pearl and Union and will renovate the parking garage with a lighthouse. All four of the developments call for retail space with streetscape improvements. Three of the sites expect to add nearly 1,000 combined residential units.
Councilmember Jimmy Peluso sees this project as a launching point for downtown development.
"What this development team I think has done with this product and this phase is really shown a proof of concept of what could be done in Jacksonville," said Peluso, "this is the start of something great."
The Pearl Street District goes before the full city council during their Tuesday meeting.