In a strategic move to facilitate the establishment of the University of Florida's graduate center in LaVilla, Jacksonville officials are exploring a second land swap. This time, the focus is on a 2.04-acre parcel located along West Bay Street, owned by multifamily developer Vestcor. City chief communications officer Phil Perry confirmed that the city is considering various options for acquiring the desired property.
The lot, which is directly north of the Prime F. Osborn III Convention Center parking area, has an appraised value of $2.58 million according to a city-ordered appraisal conducted by Colliers. This property is crucial for UF's plans, as it represents the last piece of land the university has requested for its upcoming campus. Notably, Duval County Property Appraiser records reveal that this lot is owned by VC Cathedral LLC, an entity affiliated with Vestcor, having previously been sold for $2 million in October 2019.
Perry indicated that the city aims to acquire the land in the most fiscally responsible way, stating, “Our goal is to do this in the most fiscally responsible way and in the best interest of the city.” He also noted that further details regarding the acquisition options would be forthcoming as the discussions progress.
The University of Florida announced in December 2024 its decision to locate its Jacksonville graduate campus in LaVilla, which prompted city efforts to secure suitable property for the project. The Vestcor lot is the second private property that city officials are interested in. In addition to pursuing this land swap, the city has also proposed acquiring the Interline Brands Inc. building, located at 801 W. Bay St. Gateway Jax purchased it in October 2024 from HD Supply Facilities Maintenance Ltd. of Atlanta.
For the Interline property, the university plans to launch classes in August 2025. Various city officials, including Mayor Donna Deegan and the Downtown Investment Authority, support the notion of exchanging a 1-acre development parcel in Riverfront Plaza for this property. However, city council member Ron Salem has filed legislation that could allow the city to buy the Interline property outright for up to $8 million.
Regarding the valuation, Gateway Jax’s principal Bryan Moll reported that an appraisal performed by their development group valued the Interline property at $8 million. Meanwhile, a city-ordered appraisal estimated the value of just the building at $5.5 million – a figure that corresponds closely with the city’s valuation of the Riverfront Plaza properties. To ensure accurate pricing, the city has commissioned an additional appraisal for the Interline site, expected to be finalized on March 26.
On March 17, the Council Neighborhoods, Community Services, Public Health and Safety Committee decided to postpone the consideration of Salem's legislation, identified as Ordinance 2025-0135, for two weeks to await the results of the new appraisal.
In February 2025, the Downtown Investment Authority board unanimously voted to place four city-owned properties up for disposition. This batch includes the historic Jacksonville Terminal rail station, the adjacent newer section of the convention center, a vacant lot north of the train station, and a neighboring parking lot across Park Street. Notably, UF's development plans for the new campus include constructing additional facilities on the unimproved lot and the parking area, while the convention center's newer portion is slated for demolition to make room for new buildings. However, the historic train station will be preserved and adapted to house retail, restaurants, and other amenities.
As Jacksonville moves closer to finalizing these real estate transactions, the successful completion of the land swaps could greatly enhance the educational landscape in the region. With the prospect of extensive new development, the city is optimistic about fostering academic growth and contributing to the revitalization of the LaVilla area.
