$2B Gateway Jax Passes Big Test

Gateway Jax, a development firm of JWB Real Estate Capital and DLP Capital, has received nearly all the approvals needed to proceed with the project. The Downtown Development Review Board (DDRB), an entity of the Downtown Investment Authority (DIA), has unanimously approved the design for three blocks of the development. Pending City Council approval of its incentive package in early 2024, the project will advance into permitting, with a planned construction start next year. 

The Pearl Street District will serve as the first phase of development for the more than 20 city blocks acquired by Gateway Jax in the North Core district of Downtown. The first phase encompasses five blocks and will feature $500 million of mixed-use development, including over 1,000 multifamily residential units and 100,000 square feet of retail. The total buildout of Gateway Jax’s current downtown pipeline is estimated to be $2+ billion over the next decade.