As the Pearl Square development in Downtown Jacksonville comes out of the ground, it’s also growing in acreage and size of investment.
Gateway Jax, which held a groundbreaking May 29 for its second Pearl Square building, reports that the development has grown to nine properties and a cost of $750 million. The original plan was for five properties and a $419 million investment.
As construction begins on Gateway’s $110 million mixed-use project at 425 Beaver St., the properties now involved in Pearl Square also include:
- 515 Pearl St., which broke ground in October 2024 as Pearl Square’s first project.
- The “lighthouse” parking garage bounded by Union, Julia, Beaver and Pearl streets.
- A parking garage to the east of the lighthouse garage.
- The former First Baptist Church auditorium at 712 N. Hogan St.
- A vacant block bounded by Beaver, Pearl, Ashley and Clay streets.
- The block containing the vacant Ambassador Hotel and Central National Bank buildings.
- A warehouse immediately north of 515 Pearl St.
- An additional site yet to be announced.
“Upon completion, Pearl Square will deliver more than 1,250 new residential units; approximately 200,000 square feet of retail space; a 100 key boutique hotel; vibrant new public spaces, including widened and shaded sidewalks; lush public park spaces; and a signature curbless festival street with abundant outdoor dining possibilities,” Gateway Jax announced in a May 15 release…