At $14 million, three of the four penthouses at the Four Seasons Hotel and Private Residences are cleared for build-out, from almost $2.9 to $7.9 each.
Owners of Penthouses 1, 2 and 3 are associated with Jacksonville Jaguars owner Shad Khan, who is developing the Northbank riverfront project at 1406 E. Bay St. near EverBank Stadium.
Plans show the largest, Penthouse 1, as 22,242 square feet on the top level of the residential wing of the project, with build-out of 11,906 square feet of interior space and 10,336 square feet of remaining as outdoor space. That cost is $7.87 million.
It also is called Unit O.
With at least four bedrooms, the plans show living, dining, kitchen and exercise space along with a theater and a gathering and entertainment area with an expansive corner view of the St. Johns River.
That one is owned by Qisma LLC of Urbana, Illinois, with an address at Flex-N-Gate LLC, Khan’s international automotive parts company that he has operated since 1978. The company began as a one-piece bumper design and now has more than 850 patents worldwide.
Flex-N-Gate.com says it designs and manufactures plastic, metal, mechanical assemblies and lighting systems.
Khan’s 400-foot yacht is named Kismet. Kismet and Qisma similarly mean destiny or fate.
The Permission by Owner to Obtain Permits information shows each of three LLCs also are connected with Shipyards Trustee Jacksonville LLC, based at EverBank Stadium and managed by Khan’s Iguana Investments Florida LLC.
While the plan says Penthouse 1 is on the 10th level, a Jaguars spokesperson has said the residential wing is nine levels because it has higher ceilings than the hotel wing’s 10 floors.
The 170-room hotel and the 26 residences are in separate wings of the angled building.
The city issued three penthouse permits Dec. 12. Straticon LLC of Boca Raton is the contractor for the build-out.
The project team includes Impact Development Management of Atlanta as the owner’s representative; Raj Consultancy of Naperville, Illinois, as the architect of record; Oak Brook, Illinois-based Fujikawa Johnson Gobel, also called FJG Architects, as the associate architect; and Martin Brudnizki Design Studio, also called MBDS, of New York City as the interior designer.
The other two penthouses permitted Dec. 12 comprise:
Penthouse 2, also called Unit M: Owned by Littleway LLC at the Urbana, Illinois, address. It is 11,668 square feet on the eighth level, comprising 8,566 square feet of interior space and 3102 square feet of exterior space. Plans show living, dining, kitchen and exercise space and at least four bedrooms along with outdoor uses. Build-out is $3.28 million.
Penthouse 3, also called Unit N: Owned by Denary LLC, also of Urbana. It is almost 10,170 square feet on the eighth level, comprising interior space of 8,174.5 square feet and exterior space of 1,995.1 square feet. Plans show five bedrooms, living, dining, kitchen and other areas, including outdoor space. Build-out is almost $2.88 million.
Khan has two children, a son, Tony, and a daughter, Shanna. Plans do not link the two penthouses to them, although Shanna Khan is the chief design officer of the Four Seasons Private Residences.
The fourth, Penthouse 4, is in permit review on the seventh level at a $3 million build-out. The property owner is listed as Four Seasons Unit PH4 LLC, managed by Contega Business Services LLC of Jacksonville. That ownership has not been identified.
The 7,325-square-foot custom residence is referred to as the seventh-level south unit.
Jacksonville Jaguars Business Communications Director Lyndsay Rossman said Dec. 8 that the permit refers to a private sale that hasn’t closed.
A project description says it is an interior renovation “to prepare for new owners.”
Contega Executive Vice President Steve Diebenow, a partner with Driver, McAfee, Hawthorne & Diebenow, responded Dec. 8 to an email for comment that he can’t say who is the owner of the PH4 unit.
State corporate records show that Four Seasons Unit PH4 LLC was filed with the Florida Division of Corporations on Nov. 12.
Morales Construction Co. Inc. of Jacksonville is the contractor. Greg Matthews Studio of Bozeman, Montana, is the architect. Stephanie Jarvis Inc. of Jacksonville is the interior designer.
Meskel & Associates Engineering of Jacksonville is providing private plan review for all four penthouses.
Residences recap
The JacksonvillePrivateResidences.com site link says the 26 luxury residences start for sale at $4.72 million, which Rossman confirmed. Build-out increases that cost.
The residences and the hotel are targeted for completion June 30, 2027.
“More information will be available once we officially announce our sales launch publicly in early 2026,” she said.
Rossman said information is confidential regarding the residential contracts.
The JacksonvillePrivateResidences.com site link says Douglas Elliman is the exclusive sales and marketing firm. The elliman.com site says the residence size ranges from two to five bedrooms and 2.5 to 4.5 bathrooms.
It said those for sale will be 1,930 to 7,500 square feet, indicating the larger units were spoken for.
The Douglas Elliman Inc. real estate firm is based in New York City.
JacksonvillePrivateResidences.com says the Four Seasons Private Residences “provide a rare opportunity to live in the most remarkable settings and exclusive communities, with world-class service and amenities at your doorstep.”
“Four Seasons Hotel and Private Residences Jacksonville offers an immersive, timeless experience, exceeding expectations. Whether for a day or a lifetime, the Khan family invites you to experience relentless excellence and unparalleled luxury,” says the site, quoting Shanna Khan, who is identified as president and chief design officer of Iguana Investments.
The site refers to Iguana Investments as “A Khan Family Company.”
Iguana Investments is Shad Khan’s real estate development company, which is building the hotel and adjacent One Shipyards Place office building.
The site said that the residence terraces “extend the living space outdoors, where owners can enjoy uninterrupted views of the river and skyline.”
Residences will have access to private amenities, including a lounge with an interactive multisports simulator.
Other Four Seasons Hotel and Private Residences Jacksonville amenities will include four dining and lounge outlets, a rooftop restaurant and bar, a pool bar and grill and a lobby bar, all of which will be open to hotel guests and the public.
The hotel will have a full-service spa, multiple outdoor pools with cabana service, a fully equipped gym and meeting and event space.
Next door to the hotel, a six-story office building, where the Jaguars will move its team headquarters into three floors, is expected to be completed in the first quarter of 2026.
PCL Construction Services Inc. is the contractor for the buildings.
Nearby EverBank Stadium is undergoing a $1.4 billion renovation as the Stadium of the Future for completion by the 2028 NFL season.
Increased incentives
In January 2023, Jacksonville City Council approved a revised $129.75 million incentives deal with Iguana Investments for the Four Seasons Hotel and Residences and the One Shipyards Place office building, now called One Tower Court and marketed by the NAI Hallmark real estate company.
The city will provide an additional $6 million in tax breaks after City Council action Nov. 25.
Iguana said the project’s estimated cost had risen about 20.75% since 2021, climbing to $387.6 million from $321 million, attributing the added investment to rising costs of construction, changes in design of the hotel and other factors.
Additionally, the legislation extends the required completion date for the Four Seasons by one year to June 30, 2027.
The deadline for completion of the adjacent marina, bulkhead improvements, Riverwalk improvements and construction of a marina support building would be extended two months to Aug. 30, 2026.
Council also enacted an ordinance to rename the street from East Bay Street to the St. Johns River from Shipyards Place to Tower Court.