Shanna Collective and Iguana Investments, the companies building the Four Seasons Hotel and Residences Jacksonville on the Downtown Northbank, announced Feb. 2 they secured $360 million in construction financing from Goldman Sachs Private Bank for the project.
Iguana Investments is Jacksonville Jaguars owner Shad Khan’s real estate development company. Shanna Collective is the real estate development and design firm founded by Khan’s daughter, Shanna Khan.
The Four Seasons project is at 1406 E. Bay St. south of EverBank Stadium along the St. Johns River. The Four Seasons has a wing of hotel rooms and another for private residences.
One Tower Court, an office building that will be the future Jaguars headquarters, and a marina also are under construction.
The Daily Record reported in August 2025 that Iguana said the project’s estimated cost had risen about 20.75%, from $321 million estimated in 2021 to nearly $387.6 million.
“This capital will continue to fuel the remaining build-out of these exceptional 26 two- to five-bedroom private residences spanning 1,930 to 7,936 square feet and the 170-key Four Seasons hotel,” the release said.
“Securing this construction financing with the Goldman Sachs Private Bank represents a defining milestone for Four Seasons Hotel and Residences Jacksonville,” Shanna Khan said in the release.
“This commitment reflects a deep alignment around long-term value, design integrity, and the caliber of experience we are building. With construction moving at full pace toward the 2027 debut, this investment affirms our conviction that Jacksonville is ready for a multi-generational hospitality and residential offering defined by relentless excellence and unparalleled luxury.”
The release said the 10-story residential property and hotel topped off in August 2025 and are targeted for completion June 30, 2027.
The project includes the hotel, spa, gym, three restaurants and direct frontage on a 78-slip marina developed on behalf of the city of Jacksonville.
”We are proud to support Shanna Collective and Iguana Investments on this significant milestone,” said Nishi Somaiya, global co-head of wealth management at Goldman Sachs.
“Their approach to developing an exceptional hospitality and residential experience is both visionary and deeply thoughtful, and it’s a privilege to play a role in helping to bring a project of this caliber to life.”
Private residences
The 26 private residences are in one wing in the angled building.
The JacksonvillePrivateResidences.com site says they start for sale at $4.72 million. Build-out increases that cost.
Douglas Elliman is the exclusive sales and marketing firm. The elliman.com site says the residences are from two to five bedrooms and 2.5 to 4.5 bathrooms.
There are four penthouses already accounted for, and they are approved for build-out, from almost $2.9 million to $7.9 million each.
Owners of Penthouses 1, 2 and 3 are associated with Jacksonville Jaguars owner Shad Khan. The owner of the fourth penthouse has not been identified.
Increased incentives
In January 2023, Jacksonville City Council approved a $129.75 million incentives deal with Iguana Investments for the Four Seasons Hotel and Residences and adjacent office building.
In November 2025, the city granted an additional $6 million in tax breaks for a traffic-calming project on Gator Bowl Boulevard in front of the hotel.