The Jacksonville City Council has approved a $7.6 million construction loan for the One Riverside project, managed by Fuqua BCDC One Riverside Project Owner, LLC. The funds will be used to support the ongoing development, including residential, retail, and restaurant improvements. This decision is part of a mediated settlement agreement to resolve disputes related to delays in the completion of McCoy’s Creek Improvements by the city, which impacted the project's timeline. The loan is partially forgivable, contingent upon the substantial completion of Phase One retail improvements.
This decision is crucial as it supports the continued development of the One Riverside project, a significant mixed-use development in Jacksonville, contributing to the city's urban growth and infrastructure development.