Jaguars President Mark Lamping on Monday updated the status of the Lot J development for members of the Meninak Club of Jacksonville.
Lamping said the five-phase project could begin by summer 2019 if the details of an economic development agreement are agreed upon with the city.
“Based on what we talked about today, I’d say any deal would need to be in place by the end of the year to hit that mark,” Lamping said after the meeting.
Lamping, who also leads Shad Khan’s Iguana Investments Florida LLC development company, said the plan is to commence construction on a parking structure, entertainment complex, hotel, office tower and residential building at the same time so that most of the construction occurs during the NFL offseason.
“Shad is anxious to get moving on these projects because he’s a big believer in momentum,” Lamping said. “It’s one of the hardest things to get, it’s one of the easiest things to lose.”
He said movement on the Shipyards and Metropolitan Park properties won’t happen until the Hart Bridge ramps are removed and modified. Lamping estimates construction for any project on the sites isn’t likely to occur until at least 2021.