More details: See hereThe wait for getting a taste of the Four Seasons brand of five-star accommodations in downtown Jacksonville could take at least one more season's worth of construction than previously expected.
Jaguars owner Shad Khan's construction of the luxury hotel and condominiums is making progress and the development will actually end up costing more because of upgrades to the interior, Downtown Investment Authority CEO Lori Boyer said.
Boyer granted the extension on June 18 using a provision in the development agreement between the city and the Khan family's Iguana Investments Florida.
"Their cost of construction has gone up and they are adding substantially to their interior finish," she said. "It's a project upgrade in some ways that is causing it to take more time."
While the extension will push back the grand opening date, it will give Mayor Donna Deegan and City Council some short-term breathing space in next year's budget because the city agreed in 2021 to pay a $25.8 million completion grant to Iguana when the Four Seasons is finished.
The extension means the payment of the competition grant won't come due in the 2025-26 budget but instead will be payable in the following fiscal year that starts Oct. 1, 2026.
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