Gateway Jax Moves Forward With $750M Pearl Square Mixed-Use Project In Jacksonville

• $750 million mixed-use development advancing across nine downtown blocks
• 655 Pearl office building to be the first new office in decades
• Project to deliver 2M+ square feet with residential, retail, and hotel

What the project means for downtown Jacksonville development

Gateway Jax is pushing forward with Pearl Square, a $750 million mixed-use development that will reshape a large portion of downtown Jacksonville. Spanning nine city blocks, the project will bring over 2 million square feet of space, including residential, retail, hospitality, and office components. This scale positions Pearl Square as one of the most transformative developments in the city’s recent history. The project reflects growing momentum in Jacksonville as both public and private investment continue to expand the urban core.

What the 655 Pearl office building means for office construction

At the center of the project is 655 Pearl, a six-story, 100,000-square-foot office building that will be the first new office development in the downtown business district in decades. The building will include flexible floorplates, outdoor terraces, and 25,000 square feet of ground-floor retail. Its introduction signals renewed confidence in office demand, even as many markets remain cautious. With limited new supply currently under construction, this project could capture pent-up demand for modern office space.

What phased construction means for delivery

Pearl Square is being developed in phases, with multiple buildings already under construction and the first residential units expected to be delivered soon. The office component is scheduled to break ground in 2027, with completion targeted for 2028. This staggered approach allows the developer to align delivery with market demand while managing risk. Phasing also helps activate the neighborhood gradually, building momentum as each component comes online.

What incentives and scale mean for feasibility

The project has received nearly $100 million in city incentives, highlighting strong public support for large-scale redevelopment. These incentives are tied to project milestones, ensuring that development progress aligns with economic impact goals. Combined with Jacksonville’s broader $8 billion development pipeline, this support reinforces the city’s push to attract investment and drive long-term growth.

What this means for developers and investors

Pearl Square shows how large mixed-use developments are becoming central to growth strategies in secondary markets like Jacksonville. For developers, these projects offer the ability to create fully integrated neighborhoods that drive value across multiple asset classes. For investors, early entry into emerging downtown markets can provide strong upside as infrastructure and demand expand. As construction progresses, Jacksonville is positioning itself as a rising market for mixed-use and office development.