Gateway Jax, a Jacksonville-based commercial real estate development firm, has announced it will break ground on 425 Beaver St., its second project in Pearl Square, on Thursday, May 29. The mixed-use building, previously known as Block N4, will feature 286 multifamily units, on-site parking, and nearly 20,000 square feet of retail space. The project is anticipated to deliver in 2027.
Following the groundbreaking of 515 Pearl in October, 425 Beaver St. is the next building to commence construction in Pearl Square, a transformational mixed-use urban neighborhood comprising nine city blocks in the core of downtown Jacksonville.
When 425 Beaver St. breaks ground, there will be approximately 500 residential units and 40,000 square feet of retail space actively under construction in Pearl Square, with several additional buildings slated to start later in 2025 and 2026. Upon completion, Pearl Square will deliver more than 1,250 new residential units; approximately 200,000 square feet of retail space; a 100 key boutique hotel; new public spaces, including widened and shaded sidewalks; public park spaces; and a signature curbless festival street with abundant outdoor dining possibilities.
The development will include everything an individual may need on a daily basis, including retail tenants like a full-service grocer, a high-end fitness club, grab-and-go bodegas, restaurants and other daily service providers like salons and shops.
The full buildout of Gateway Jax’s holdings will total an estimated $2 billion in capital investment over the next decade. “Jacksonville has been called the Bold New City of the South, and it is one of the most unique and special places in the country,” said Bryan Moll, CEO of Gateway Jax. “Downtown is the key to taking our city to the next level. It brings together history, culture, sports, entertainment, the waterfront –– everything that makes our home so special. We’re proud to see Pearl Square continue to move forward and play an important role in creating the world-class downtown that we all desire.”
The 425 Beaver St. team includes SK+I Architecture, with Elks Manfredi Architects, Ltd. serving as the design architect and interiors by Cecconi Simone; SK&A Structural Engineers; mechanical, electrical and plumbing engineering by Lighthouse; and civil engineering by England-Thims & Miller (ETM). Jacksonville-based Faver Gray will serve as the general contractor. The new parks and public spaces will be designed by Hoerr Schaudt.
Moll went on to say, “The key to a thriving downtown is a mix of uses in a dense, urban and walkable environment. Pearl Square accelerates that goal for Jacksonville. Starting construction on 425 Beaver St. reinforces our and our partners’ commitment to this city, its redevelopment and revitalization, and our expertise in bringing unprecedented projects to life. We look forward to continuing our mission to imagine and create welcoming, vibrant urban communities.”
For more information on Gateway Jax and the Pearl Square project, go to pearlsquare.com.
