Downtown Jacksonville’s riverfront may be getting a splashy new anchor. Baltimore-based Atlas Restaurant Group is in talks to bring a roughly $12 million waterfront dining concept to Riverfront Plaza, the city park on the former Jacksonville Landing site.
The pitch calls for a multi-level restaurant with a raw bar, patio seating and a rooftop terrace on city-owned land along the Northbank of the St. Johns River. The idea is on the front end of the approval process as city leaders wrap up phase one of the park and pivot to phase two.
Atlas’ Plan And The Deal On The Table
Under the proposal, Atlas would design, build and operate a roughly $12 million building, according to Jacksonville Business Journal. A Downtown Investment Authority selection committee scored the company’s bid highest among applicants and voted 3-0 to recommend that staff enter negotiations with Atlas, Jax Daily Record reported.
That reporting details terms that include roughly $8 million in city reimbursement for the building shell and about $4 million in tenant fit-out costs, along with a base rent and a revenue-share provision tied to annual sales.
What The Restaurant Would Be
Atlas’ presentation pitches a concept meant to work for both casual riverfront walk-ups and destination diners. The company describes “a waterfront raw bar and casual dining component, a full-service dining room with seafood and steaks and a rooftop bar and lounge,” Jax Daily Record wrote…