Construction of the Four Seasons Hotel and Residences Jacksonville could be completed in twelve months and the grand opening will come sometime after that in 2027 on the downtown riverfront where Jaguars owner Shad Khan is building the luxury hotel.
The city has moved back the deadline twice for for completing the hotel. The first extension added six months to put it at the end of 2026. A second extension in the city’s development agreement puts the deadline for substantial completion at June 30, 2027.
Jaguars President Mark Lamping said March 25 it is on track to be substantially complete “in a year or so.”
“Sometimes you have to have patience for special things, but you can see how complex of a project it is just by coming down here and looking at it,” Lamping said. “But it’s spectacular as it’s unfolding.”
While substantial completion is expected around this time next year, there isn’t a grand opening date penciled in yet for the hotel and residences.
“We don’t have an exact timetable right now, but we’re obviously getting closer and closer day by day,” Lamping said after the ribbon-cutting ceremony for a new story office building next to the Four Seasons construction site.
The Four Seasons development will bring 170 luxury hotel rooms and 26 high-end residences to downtown. The residences will range in size from two bedrooms to five bedrooms and from 1,930 square feet to 7,936 square feet. The cost of purchasing a residence will start at $4.7 million, according to an announcement in January.
Iguana Investments and Shanna Collective — the real estate development and design firm founded by Shanna Khan, daughter of Shad Khan — said Feb. 2 they had secured $360 million in construction financing by Goldman Sachs Private Bank for the Four Seasons Hotel and Residences.
Four Seasons operates globally and has hotels and resorts in five Florida places: Fort Lauderdale, Palm Beach, Miami, Orlando and Surfside near Miami Beach.
The city’s incentives for the Four Seasons Hotel and Residences Jacksonville and the next-door One Tower Court office building include a $25.8 million completion grant when the entire development is completed.
The city also will provide property tax rebates totaling up to $56.6 million over 20 years based on 75% of the additional city property taxes generated by the new development.
This article originally appeared on Florida Times-Union: Four Seasons opening set for 2027 after another year of construction
Reporting by David Bauerlein, Jacksonville Florida Times-Union / Florida Times-Union
USA TODAY Network via Reuters Connect
