Shad Khan’s Jacksonville Four Seasons project secures $360 million loan as construction targets 2027 opening

Major construction financing announced for Downtown Northbank luxury hotel and residences

A development group tied to Jacksonville Jaguars owner Shad Khan has secured a $360 million construction loan to advance the Four Seasons Hotel and Residences Jacksonville now rising along the St. Johns River. The financing was arranged through Goldman Sachs Private Bank and is being used to continue build-out of a mixed-use project that combines a luxury hotel with a limited number of high-end private residences.

The Four Seasons development sits at 1406 E. Bay St., south of EverBank Stadium, within the Shipyards area on the Downtown Northbank. Plans call for a 170-key hotel and 26 private residences in a 10-story structure, with hotel rooms in one wing and residences in another.

Project scope, timing and on-site progress

The developers have said the building topped out in August 2025. The current completion target is June 30, 2027. The project includes hospitality amenities typically associated with the Four Seasons brand, including a spa, fitness facilities and multiple restaurants.

The broader Shipyards redevelopment also includes an adjacent office building planned to serve as the Jaguars’ future headquarters, along with a marina and public-space improvements. A 78-slip marina is part of the riverfront plan, with slips designed for vessels ranging from roughly 30 feet to larger craft, including capacity at one dock for much larger vessels.

City incentives and public infrastructure commitments

The Four Seasons deal has also been shaped by a large package of city incentives and infrastructure commitments approved in stages over multiple years. In January 2023, City Council approved a revised incentives agreement valued at $129.75 million for the hotel, residences and associated office building, following cost updates and changes to supporting public infrastructure work. Later updates added additional tax-related incentives, increasing total city participation beyond that revised figure.

Public components associated with the redevelopment have included marina-related improvements, bulkhead work and Riverwalk upgrades, reflecting the project’s reliance on major waterfront infrastructure.

Costs, pricing and market context

Project cost estimates have risen since early figures were presented, reflecting inflationary pressures and design and site conditions as planning advanced. Marketing for the private residences has positioned the units in the ultra-luxury tier, with published asking prices starting around $4.7 million and larger, customized build-outs potentially adding significantly to final costs.

• Construction financing secured: $360 million

• Hotel size: 170 keys

• Private residences: 26 units

• Targeted completion: June 30, 2027

• Marina: 78 slips

The new financing provides a large infusion of capital as construction continues on a project designed to introduce a top-tier hospitality brand and a small number of high-priced residences into Jacksonville’s downtown riverfront market.

With the loan in place and construction progressing, the next milestones are continued vertical build-out, completion of waterfront infrastructure, and delivery of hotel operations and residential closings ahead of the planned 2027 debut.