Public-Private Partnership | Jacksonville, FL Arena & Sports Complex Structure Parking Facilities

498,772 Sq. Ft. Combined

$50,000,000 Total Cost

Completed 2004

Executive Summary

In 2004, the City of Jacksonville created a new Sports District, which included the construction of a new 15,000 seat, state-of-the-art arena. After the construction of the arena, the City was faced with insufficient parking in the district and selected Signet as a private development partner to provide the construction, financing, ownership and management of two new integrated parking facilities.

Project Details

The Arena Parking Facility combines a 163,386 SF, 480-space parking garage with loading dock facilities for the arena. The Sports Complex Parking Facility is a 335,386 SF, 1,000-space garage serving EverBank Field, Veteran’s Memorial Arena and the Jacksonville Baseball Grounds stadium. The project required a design to complement the new sporting venues. Careful coordination with the construction team minimized the impact on functioning arena and loading dock operations.

The selected financing alternative was a private ownership approach using Tax–Exempt Enterprise Zone Bonds. This structure provided the lowest cost financing with a high degree of sponsor control. Working through a collaborative process, Signet provided a development approach and several private financing options which achieved or exceeded all of the City’s outlined goals. Signet continues to manage the facilities and parking operations for the City of Jacksonville.

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