At its Oct. 15 meeting, Jacksonville’s Downtown Investment Authority (DIA) approved several new development incentives and provided an update on ongoing construction projects across the urban core.
Starbucks at Bank of America Tower
A new licensed Starbucks is coming to the ground floor of the Bank of America Tower at 50 N. Laura St. Operator Jeremy Roberts will receive a $133,200 incentive package from the DIA, including a $118,200 forgivable loan through the Food and Beverage Retail Enhancement Program and a $15,000 no-interest Sidewalk Enhancement Grant. Both loans will be forgiven over five years if the store remains open and operates as proposed.
Keane’s Tavern
Keane’s Tavern, an Irish pub planned for 315 E. Bay St., will receive a $5,628 grant to create a patio area with tables, chairs, umbrellas, and citrus trees. The funding covers 80% of the $7,035 sidewalk enhancement cost. The restaurant, developed by the owners of nearby Decca Live, plans to open by the end of October.
Music Heritage Garden
The DIA approved transferring more than $1.2 million from the “Projection Tower” portion of the Music Heritage Garden project to fund sound system installation and programming. A recent quote of $421,638 for outdoor speakers leaves about $792,000 available for additional projectors and equipment.
Sip & Stroll
The popular Sip & Stroll event series at the Southbank Riverwalk will receive $54,000 from the city’s budget for the coming year. Downtown Vision, Inc. will reimburse the city $36,000 in two installments after the first three and final three events of the nine-month series.
Museum of Science & History (MOSH)
To preserve surrounding park space, the DIA agreed to reduce the number of parking spaces for the new MOSH site from 75 to 30, citing available garage and off-site parking nearby.
24 North Market Street
Law firm Sodl & Ingram will receive $72,000 in incentives over ten years to renovate and occupy the upper floor of 24 N. Market St. The payment will be spread out annually over the term of the lease, and each employee will also receive $1,000 worth of Downtown Vision gift cards upon completion of the office buildout.
Snyder Memorial Church
The DIA approved funding for due diligence and survey work on the historic Snyder Memorial Methodist Episcopal Church at 226 N. Laura St., including title, environmental, and geotechnical reviews.
Gateway Jax Mobility Credits
Gateway Jax was granted up to $327,213 in mobility fee credits for improvements within its Pearl Square development. The credits will go toward pedestrian and bike enhancements along Beaver Street in coordination with the DIA, FDOT, and Public Works.
RiversEdge Parks Development
The DIA will contribute approximately $23 million toward the creation of three new riverfront parks, a Riverwalk, a marsh boardwalk, and an additional park within the RiversEdge redevelopment. The parks are expected to be complete by late 2025, with the Jax Riverfront Alliance managing maintenance, security, and programming beginning in April 2026.
Construction Progress Report
City Capital Projects Manager Scott Wilson shared that work continues on several major projects — including McCoy’s Creek restoration, Johnson Commons, Pearl Square, and Riverfront Plaza — with no reported setbacks.
At the Rise Doro project, the common areas and management office are set to open in November 2025. The first phase of residential units will be ready in February 2026, with full completion anticipated by June 2026. Developers also reported strong interest from restaurant groups for the building’s ground floor and rooftop spaces.
Information from: https://www.bizjournals.com/jacksonville/news/2025/10/16/dia-wrap.html
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