The City of Jacksonville has approved the reappropriation of a $7.6 million partially forgivable construction loan for the Fuqua BCDC One Riverside Project. This loan, originally authorized by Ordinance 2024-452-E, supports the redevelopment of the former Florida Times-Union site into a mixed-use property, including residential, retail, and restaurant components. The appropriation aims to resolve legal disputes and ensures timely project completion under a mediated settlement agreement.
This funding reallocation supports a major redevelopment project in Jacksonville, transforming a historic site into a vibrant mixed-use area. The project will enhance economic growth, contribute to the city’s urban development, and resolve outstanding legal and construction delays.