Impact in Action: Gateway Jax Advances

“Downtown Jax nears 10,000 residents—and a new era of urban growth,” reported Jacksonville Business Journal in their November 2025 edition.¹ 

The demand is ever-growing in one of Florida’s top cities, and we are ready to answer by building Thriving Communities that will breathe fresh life into downtown Jacksonville’s new Pearl Square—a single component of the larger Gateway Jax project, sponsored by DLP Capital and JWB Real Estate Capital. 

Gateway Jax’s leadership previously spearheaded Water Street Tampa, the $4-billion development revitalization of Tampa’s waterfront and the National Landing development—site of Amazon’s HQ2—in the Washington, DC area.

Pearl Square will offer more than 1,250 multifamily residential units across four residential buildings, including retail spaces, parking, amenities, a revitalized 100-year-old historic Ambassador Hotel, and Publix, the largest grocery store chain in Florida.

Building Momentum: Early Wins and What’s Underway

Shovels first broke ground in late 2024. After a year of progress, the following summarizes completed work and what is still underway:

• In October 2024, Gateway Jax began construction on Block N11 at 515 N. Pearl Street. This seven-story mixed-use building will deliver 205 apartment units, along with over 24,000 square feet of retail and commercial space. Completion is targeted for mid-2026.
• On May 29, 2025, Gateway Jax broke ground on Block N4 at 425 Beaver Street, which will deliver 286 multifamily units, nearly 20,000 square feet of retail space, and on-site parking.
• In September 2025, Gateway Jax announced that Publix had signed a lease to become the first full-service grocery store at Pearl Square in over a decade, marking a significant milestone for downtown Jax. The 31,000-square-foot store will occupy the ground-floor space at Block N7, located at 119 W. Beaver Street and situated beneath a new 15-story residential tower featuring approximately 250 apartments and 400 parking spaces. Publix will feature a pharmacy, deli, bakery, sushi, and more—all within walking distance for residents.
• In January 2026, Gateway Jax received a city permit and immediately sprang into action reimagining the former First Baptist Church's “lighthouse garage, valued at nearly $9 million. Block N5, located at 721 N. Pearl Street, will feature retail and restaurant shell space along city streets while preserving the existing parking function throughout the remainder of the structure.

During our Extraordinary Legacy Event in November, DLP investors experienced the impact of their capital firsthand as we toured Gateway Jax’s Pearl Square and several of our other projects.