The town is looking for to supply a $4.6 million incentive for the proposed Jacksonville Surf Park after its developer, Aventuur Inc., mentioned new price estimates have put the general undertaking in jeopardy.
The 5.5-acre park, half of a bigger, 45-acre house, is deliberate within the eTown improvement in South Jacksonville. It has an estimated capital funding of $100 million.
The town Workplace of Financial Improvement mentioned in a memo that Aventuur advised it that unique development price projections have grown by over 20% based mostly on outcomes of geotechnical research carried out on the undertaking website.
Due to that, the OED is requesting approval for a 10-year, 75% Recaptured Enhanced Worth Grant to not exceed $4.6 million, for the undertaking.
Aventuur says it companions with Wavegarden for its surf parks. Wavegarden designs wave producing techniques and browsing lagoons.
A REV grant is a refund on advert valorem tax income generated by a brand new improvement or property enhancement. It could possibly apply to property and tangible private property.
The Mayor’s Funds Overview Committee will take into account the grant proposal on Sept. 8. If accredited, laws for the grant will probably be launched to the Jacksonville Metropolis Council.
Based on a memo detailing the grant, the undertaking is predicted to create 100 new jobs with a mean annual compensation of $50,000, excluding advantages. It should additionally generate lots of of development jobs.
The undertaking has an anticipated return on funding of $1.36 for each $1 spent.
“The corporate has said that the brand new undertaking price estimates have put the general undertaking in jeopardy, “ the OED memo mentioned. “With that, the Metropolis has provided an incentive within the type of a REV Grant, to maintain the undertaking on monitor.”

Nicholas Edelman, Aventuur Co-Founder and CEO; Thomas Rubel, Aventuur Head of Improvement North America; Jarrod Neumann, Aventuur Affiliate Director of Improvement North America; Adrian “Ace” Buchan, Aventuur Director of Surf and Sustainability.
The memo doesn’t present particulars on any points uncovered by the geotechnical research.
Based on the memo, Aventuur will use 5.5 acres of the event for the surf park, whereas additionally constructing multifamily residential and retail house.
Aventuur bought the land for its undertaking in June with plans to start development in early 2026. The location, southwest of the Florida 9B and Interstate 295 interchange in South Jacksonville, would be the first surf park in Florida.
The location is a part of a master-planned improvement by The PARC Group and was rezoned in February to Deliberate Unit Improvement to accommodate the undertaking. A PUD is a particular zoning district that permits for a mixture of residential, business and industrial makes use of inside a single district.
Based on Aventuur, the surf park is designed to have “constant, ocean-like browsing experiences for all talents in a protected, managed setting.”
The developer mentioned the park was designed with an environmental focus, that includes plans to combine native landscaping, protect current vegetation and use recycled supplies the place doable.
Based on the MBRC memo, the surf park “is predicted to be a draw for surf fans whereas offering alternatives for Jacksonville residents to expertise an enhanced stage of browsing experiences.”