A proposal to provide the developer of the Jacksonville Surf Park with $4.6 million in city incentives is on its way to City Council after being approved by the Mayor’s Budget Review Committee on Sept. 8.
The seven-member committee voted unanimously to allow the Office of Economic Development to prepare Council legislation for the proposed incentive, which would support developer Aventuur Inc. in building the mixed-use project in South Jacksonville.
Ed Randolph, the city’s executive director of economic development, told the MBRC that Aventuur made the request after geotechnical testing revealed that the site of the project was on a high water table, with groundwater close to the surface. The findings drove up cost estimates for the project, Randolph said, prompting Aventuur to seek funding from the city.
Randolph said Aventuur’s engineers told the company they will have to invest $20 million to $30 million more than the $110 million originally estimated for the project.
“Things we all deal with, putting a pool in,” he said.
A memo from the OED said costs for the 45-acre development, including the 5.5-acre surf park, have grown by more than 20% based on the results of the geotechnical studies. The project site is southwest of the Florida 9B and Interstate 295 interchange in South Jacksonville. The site is in eTown, a master-planned development by The PARC Group.
The city incentives would come in the form of a 10-year, 75% Recaptured Enhanced Value Grant, not to exceed $4.6 million, for the project.
A REV grant is a refund on ad valorem tax revenue generated by a new development or property enhancement. It can apply to property and tangible personal property.
Randolph said Aventuur was considering stopping the project after receiving the results of the geotechnical studies. He said the city’s grant could push the developer over the line to move forward with the project.
Randolph said the park would position Jacksonville to benefit from what he called a growing global interest in surfing, which is being introduced as an Olympic sport in 2027. The park would position Jacksonville well to draw on that growing interest.
According to Aventuur, the Jacksonville Surf Park will be anchored by a 56-module, 5.5-acre Wavegarden Cove surfing lagoon. The technology is designed to create “consistent, ocean-like surfing experiences for all abilities in a safe, controlled environment.”
“We believe it’d be a regional draw and really bring folks in, not just nationally, but internationally,” Randolph said. “I think truly, this sets us up, and they’re looking to go after the regional surf competition market.”
The project is expected to create 100 jobs with an average annual compensation of $50,000, excluding benefits, according to a memo attached to the MBRC agenda. It will also generate hundreds of construction jobs.
The project has an expected return on investment of $1.36 for every $1 spent.
Aventuur purchased the land for its project in June with plans to begin construction in early 2026.
In February, Council voted to rezone the site to Planned Unit Development to accommodate the project. A PUD is a special zoning district that allows for a mix of residential, commercial and industrial uses within a single district.
Aventuur said the park was designed with an environmental focus, featuring plans to integrate native landscaping, preserve existing vegetation and use recycled materials where possible.
According to the MBRC memo, the surf park “is expected to be a draw for surf enthusiasts while providing opportunities for Jacksonville residents to experience an enhanced level of surfing experiences.”
After passing through the MBRC, the measure will be considered by City Council in coming weeks.