Fuqua Development Group plans to buy the former Florida-Times Union property in January for a $182.2 million mixed-use redevelopment.
The Jacksonville City Council on Nov. 23 approved a $31.59 million incentives package for One Riverside, the redevelopment of the former Florida Times-Union site in Brooklyn.
Atlanta-based Fuqua Development LLC and partner TriBridge Residential propose a $182.2 million project with a grocery store, retail uses, restaurant and apartments.
The 15-0 vote authorizes property tax breaks, a forgivable restaurant loan and a parkland buyback to support the multiphase development.
The project along the St. Johns River involves development of the 13.42-acre west portion of the 18.43-acre property in two phases.
The plan also would restore McCoys Creek and add about 4.95 acres for public park and submerged lands for river access on the east side of the property.
Council members Garrett Dennis, Kevin Carrico and Joyce Morgan were absent for the vote.
The Council’s vote comes after the Downtown Investment Authority board endorsed the terms in September.
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