Ordinance 2025-725 approved a Redevelopment Agreement between the City of Jacksonville and Block One Property, LLC for a mixed-use project at 470 Park Street. This decision facilitates the development of 300 residential units, ground-floor retail, and structured parking. The property's zoning was changed from Commercial Central Business District (CCBD) to a Planned Unit Development (PUD) to accommodate the proposed urban revitalization. The development is planned for 350,000 square feet on a 2.5-acre site, with an estimated project cost of $75 million. The Downtown Investment Authority was the applicant. This initiative aims to increase housing density and commercial vibrancy in Jacksonville's urban core.