The St. Johns County Board of County Commissioners heard two conceptual proposals for redeveloping World Golf Village on Sept. 16 and voted to advance both to the second phase of review.
The county issued a request for proposals in June and received submissions July 31.
The two-phase solicitation requires conceptual proposals in the first phase, covering project scope, timelines, team composition, property interests, financing plans and the application fee. The second phase would involve a more in-depth review, including legal team formation, technical and financial capabilities, and alignment with the county’s public-benefit goals.
Golftopia
Golftopia is from Capital Group P3 Developments of Florida in partnership with Alchemy Attractions and Premier Community Investment Group.
The proposal envisions golf, recreation, entertainment, retail, food and beverage, and wellness-focused amenities. Upgrades include renovations to the IMAX and Hall of Fame buildings, improvements to the retail ring, and new facilities such as mini-golf courses, a VR golf lounge, outdoor seating areas, play zones, and a wellness spa.
Golftopia proposes a phased approach, starting with an interim development agreement and creating a single-purpose entity to oversee the project.
Plans include a 32-year master lease and a 30-year sublease with Alchemy Attractions.
Future phases would address deed restrictions, traffic and infrastructure challenges, and potential joint ventures. The proposed construction timeline runs from July 2026 through November 2029.
Capital Group P3 Developments is headquartered in Boca Raton and led by developer Mario Caprini.
The Fountains at World Golf Village
The Fountains at World Golf Village comes from Ergisi Acquisitions and Cross Regions Real Estate.
It envisions medical treatment facilities, independent living, retail, restaurants, and commercial space.
The team plans to renovate and repurpose existing facilities while adding new construction, with projected completion in September 2027 and operations beginning in October 2027.
The Fountains proposal outlines property acquisition strategies, including obtaining title to the subject property at no cost and holding a purchase-and-sale agreement for 37 surrounding acres with the World Golf Foundation.
Financing would include borrower equity, internal capital, and relationships with local and regional banks.
The team has also begun discussions for an additional 187 acres surrounding the county property.
Cross Regions is headquartered in Jacksonville and led by David Ergisi. Cross Regions is developing The Fountains at St. Johns and other centers.
Legal backdrop
At a hearing July 28, 7th Judicial Circuit Judge Kenneth Janesk II allowed a lawsuit between World Golf Foundation Inc. and master developer IT Land Associates LLC to proceed.
The dispute centers on land-use restrictions requiring World Golf Village property to remain dedicated to the Hall of Fame, PGA Productions, an IMAX or similar attraction, and an 18-hole golf course with clubhouse for the next 25 years.
The foundation closed the Hall of Fame in 2023, relocating it to Pinehurst, North Carolina, and shuttered the IMAX theater in late 2024. Its complaint seeks a declaratory judgment to lift the restrictions, arguing they impede the land’s marketability.
CEO Greg McLaughlin said the foundation could seek summary judgment, mediation or a trial in May 2026.
“People have to move on,” he said, noting the Hall of Fame building has sat vacant for two years.
Next steps
During the Sept. 16 meeting, commissioners discussed deed restrictions, litigation and traffic impacts, stressing that the second phase would require more detailed plans.
Commissioners agreed to advance both proposals for further review.