Jacksonville board approves $49 million tax incentive for Fleet Landing retirement tower
A Jacksonville board approved a 49 million dollar tax grant for a new tower.
The short version
- Fleet Landing plans a 31-story retirement community on the Northbank waterfront.
- The deal gives a 20-year refund on property taxes generated by the site.
A waterfront retirement project in Jacksonville just cleared a major hurdle after winning unanimous backing from City officials. The Downtown Investment Authority board voted 7 to 0 to advance a $49,270,000 tax incentive for the proposed Fleet Landing Riverside development. The 31-story retirement community is planned for 111 Riverside Ave., which previously served as the headquarters of Haskell, a global building services company.
The board approved a 20-year, 75% Recapture Enhanced Value Grant, detailed in DIA Resolution 2026-1002. A REV grant is a refund on ad valorem tax revenue generated by a new development or property enhancement, applying to both property and tangible personal property.
The project is aimed at active, engaged adults aged 62 and older. According to Jacksonville Today, the incentive moved forward on Oct. 21, pushing the large-scale downtown residential plan closer to reality. For local property owners and developers watching the First Coast market, the move highlights how the City uses long-term tax refunds to spur high-rise downtown growth. That is a massive public backing for a single residential tower.
