JACKSONVILLE, Fla. – Mayor Donna Deegan and developers from the Related Group on Friday broke ground on the Southbank Residences, a more-than-$200 million luxury high-rise complex along the St. Johns River, officials said.
It is the first new luxury tower on Downtown Jacksonville’s riverfront in more than a decade.
The project will include two residential towers and nearly 400 homes, topped by a 25-story riverfront building that will feature a restaurant, rooftop resident lounge, resort-style pool, a spa with sports simulators and a marina, developers said. The complex will open onto the Southbank Riverwalk and offer direct water-taxi access to downtown attractions and sports venues, officials said.
Jorge Pérez, chairman of the Related Group, said the company sees the development as more than a single building.
“We’re not a company that builds buildings. It’s a company that builds cities,” he said, adding that Related has helped revitalize neighborhoods through a mix of market-rate and affordable housing.
Related and its partners named Colombian-born architect Carlos Ott as concept designer. Coastal Construction is a construction partner, and CIBC Bank will provide financing, officials said.
City leaders including members of the Downtown Investment Authority joined developers at the ceremony and praised the project as catalytic for downtown redevelopment.
Deegan called the project a major milestone for the riverfront and said it reflects growing investor confidence in Jacksonville’s downtown.
“Our vibrant future is here and we couldn’t be more excited,” Deegan said.
Officials said the development is expected to complement other recent and planned projects along the river, including parks, cultural venues and new residential and office developments that city leaders say are drawing thousands more residents downtown.