JACKSONVILLE, Fla. — The sale of the Duval County Public Schools headquarters has been put on pause after the prospective buyer terminated its purchase agreement with the district. Chase Properties was planning to spend around $17.2 million for the property in a deal that was approved by the school board in November 2025.
The CEO of Chase Properties, Michael Balanky, is now backing out of the deal two months later after learning of what is called the ‘Community Development District’ or CDD.
‘The District’ CDD was created back in 2018 as a special purpose government entity to help with the development of the 30-acre Southbank property now known as RiversEdge. It is managed by investment group, Preston Hollow Capital…