Jax Providing Incentives for $148M Apartment/Retail Venture

Jax Providing Incentives for $148M Apartment/Retail Venture
News| December 18, 2025| Mike Boyd
Florida & Gulf Coast + Apartment Buildings

Jacksonville, via The Downtown Investment Authority, has approved a public-private partnership package that advances plans for the N7 block of Pearl Square, being developed by Gateway Jax. The package supports the creation of a $148 million high-rise project, located at 119 Beaver Street, that will deliver a full-service Publix grocery store and an apartment complex to Downtown Jacksonville. The project is expected to add $2 million in annual property tax revenue to the City of Jacksonville. The incentive package includes grants that could allow Gateway Jax to recapture nearly $50 million, once the project is completed. 

The N7 block comprises a 15-story, 259-unit multifamily building featuring 450 parking spaces and 37,000 square feet of ground-floor retail, anchored by a 32,000-square-foot Publix grocery store.

With the addition of the N7 block, Pearl Square will reach its planned buildout of approximately 1,250 multifamily units, translating to an estimated 2,000 new residents.

The project is expected to break ground in 2026 and deliver in 2029.

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