A new name and hospitality partner for Gateway Jax’s proposed renovation of the Ambassador Hotel in Downtown Jacksonville is among the latest signs of progress in the Pearl Square district.
Gateway Jax principal Bryan Moll recently provided a status report on the $750 million Pearl Square development, including an announcement that the Ambassador has been renamed Hotel Merrydelle and will open as a Marriott Tribute Portfolio boutique hotel under a new agreement with the hospitality chain.
The six-story hotel, which opened in 1924, is at Church and Julia streets. It has been vacant and exposed to the elements for years, with unprotected window openings and boarded-up entrances.
Moll also provided new details on the property, including that restaurant partner Indigo Road Hospitality Group plans an Italian restaurant on the ground floor of the renovated building.
As for the new name, Moll said it was a tribute to Merrydelle Hoyt, a pioneering advocate in what became the Museum of Contemporary Art. It is the second Pearl Square property to be named for a historical figure in Jacksonville, following the Vandeveer mixed-use development at 515 N. Pearl St.
That name refers to Thomas Vandeveer Porter, whose historic Porter House Mansion immediately east of the building is part of Gateway Jax’s Pearl Square district.
As Moll outlined the status of Pearl Square, which includes nine projects in Downtown’s NorthCore district north and west of City Hall, he said the development had progressed more quickly than others he has led. Those include the $3.5 billion Water Street redevelopment district in downtown Tampa and the multibillion-dollar Amazon HQ2 National Landing site near Washington, D.C.
“I don’t know that I’m ever satisfied, but I would say that I’m very pleased with the progress that we’ve made to date,” he said. “It’s a much shorter time frame than on any other large project I’ve worked on.”
For that, Moll gave substantial credit to the city of Jacksonville and its City Council for quickly providing procedural approvals, processing permits and approving incentive packages.
“We feel like we’ve got really great partners, both within the city administration itself and City Council,” he said.
Gateway Jax is a partnership between Moll, JWB Real Estate Capital and DLP Capital. Pearl Square is part of a wider development that would involve an investment of more than
$2 billion across 25 city blocks.
About 18 months after the Gateway Jax development was announced in October 2024, here is where the Pearl District project stands:
Vandeveer
The seven-story building is on track for a 2026 delivery of residential units, Moll said.
It was Gateway’s first project to start construction, with groundbreaking in October 2024.
In addition to a ground-floor Japanese restaurant, a concept from Steve Palmer of Indigo Road, Moll said the developers were working on agreements to add a coffee shop, ice cream shop and another full-service restaurant to the project.
The 205-unit apartment building will include studio,
one- and two-bedroom units, plus a club room with coworking spaces, a pet spa and an outdoor terrace with a swimming pool, grills and seating.
As part of Vandeveer, Gateway Jax is creating parks north and south of the historic Porter Mansion at 510 N. Julia St.
Plans for the south park include a fountain and seating areas. The north park will feature a kiosk that will serve either coffee and beer or ice cream, Moll said.
He said he expects the parks to be completed within one to two months of the Vandeveer building.
In August 2024, the Jacksonville City Council approved a $9.06 million Recapture Enhanced Value Grant and a $4.63 million completion grant for the project. In October of that year, the city issued a construction permit at a project cost of $45 million.
A REV grant is a refund on ad valorem tax revenue generated by a new development or property enhancement.
425 W. Beaver St.
Construction is progressing on this mixed-use development, which includes 286 multifamily units, 17,500 square feet of retail space and on-site parking.
“We’re working on getting a restaurant for that space,” Moll said. “We’ve been talking to a couple of really great concepts, one from Atlanta, one from Denver, and a couple of others, but those seem to be the leading candidates right now.”
City Council approved a $14.1 million REV grant and a $6.84 million completion grant for 425 Beaver St.
In October 2025, the city issued a permit for the multifamily building at a project cost of $60 million. Completion is expected in the second quarter of 2027, Moll said.
“Lighthouse” garage
Construction is underway on the proposed remake of the former First Baptist Church parking garage at 721 N. Pearl St.
On Jan. 6, the city issued a permit to add shell space for commercial use in the five-story garage at a project cost of $8.96 million.
“We have to take a floor of parking out along Beaver Street to get the double (ceiling) height space you need for retail,” Moll said during an April 3 interview.
“We’re going in there right now and demolishing some of the structure. So if you were to look at it from the outside, you couldn’t tell there’s a lot going on inside. But probably within the next two weeks, you’ll start to see a big transformation of the facade.”
Plans call for the decorative lighthouse structure on the northwest corner of the building to be retained and redesigned.
For the project, Council approved an incentive package comprising a $2.57 million REV grant and a $1.9 million completion grant.
Downtown Publix
Moll said demolition work will begin “probably within the next couple of months” on the former First Baptist Church main auditorium at 119 W. Beaver St., which Gateway Jax plans to replace with a Publix-anchored 14-story tower.
Under a term sheet for the proposed redevelopment agreement between the city and Gateway, the tower would include 21 studio units, 207 one-bedroom units and 31 two-bedroom units. A minimum of 37,000 square feet of retail space would be required.
Moll said Gateway is working with the city to finalize an incentive package for the $147.95 million project. The Downtown Investment Authority voted in December to recommend a REV grant of up to $21.41 million and a $28.25 million completion grant for the project.
Moll said the developers were preparing to announce another major retailer for the tower.
“It will be sort of another anchor for the neighborhood,” he said.
440 W. Beaver
Moll said horizontal construction has begun for the proposed 22-story building. Plans for the estimated $145.21 million project include 526 mutlifamily units and 28,000 square feet of retail space.
Plans submitted to the city show the 22-story tower connected with what appears to be a 13-story building and a three-story structure.
Council approved a $33.88 million REV grant and a $25.55 million completion grant for the project.
Hotel Merrydelle and surroundings
Construction will begin within the next three to four months on the former Ambassador Hotel renovation, Moll said, with work possibly starting sooner to install windows.
“We really want to get it kind of weather tight, because the weather has had a lot of impact over the years,” he said.
Gateway Jax is seeking final design approval from the Downtown Development Review Board, which is scheduled to discuss the project April 9.
Moll said the developers also were seeking a design change from DDRB on the adjacent parking lot under construction west of the hotel. The new design will incorporate more historic elements, such as red brick versus a more modern, sleek look.
Moll said that in addition to the windows, the Merrydelle needs a new roof and work on the brick mortar to make it impervious to water.
“We’re going to be working with the city on, hopefully, an incentive package to help complete that project,” he said.
Among other changes, Moll said the main entrance of the building would be moved from Julia Street to its original location on the north side facing Church Street.
In another new detail, Moll said Gateway would design a building to replace the Central National Bank property at 404 N. Julia, south of the hotel.
“We envision that as being a second phase of the hotel, and that would likely be more ground-floor retail space and likely some meeting space in the middle for things like weddings or regular meetings,” he said. “And then on the top, we want to do a rooftop restaurant, a rooftop bar and a pool.”
Elsewhere in Pearl Square
Among other projects: