Miami-based powerhouse developer Related Group has entered a contract with Maritime Concepts, the company behind the River City Brewing Co., to acquire the restaurant group’s remaining 77 years of its lease rights with the City of Jacksonville for the land where the restaurant operates along the St John’s River. Related Group’s plans include a nearly $100 million residential complex
My takeaway: investments from companies like the Related Group, along with recent energy shown by the Downtown Investment Authority, in a revamped website built to welcome investors could be early signals for Jacksonville finally realizing the dream of a revitalized, modern urban core. As we have seen in other cities throughout Florida, a handful of trigger investments can result in a rapid change, even after decades of effort. Jacksonville’s challenge, like other cities, will be to promote growth while sustaining a unique character and quality of life.