This marks the third attempt to sell the waterfront site in a year, after Fleet Landing’s $20 million proposal for a retirement community was rejected in early 2025 and Chase Properties’ $17.2 million mixed‑use bid was withdrawn in February 2026.
Under the new agreement, Ashco must deposit $1 million in escrow within five days, after which a 120‑day due‑diligence period will examine zoning, soil, and environmental factors. The company may exit during this phase and recover its deposit, and the final closing date could be up to three years later.
If the sale goes through, developers could transform the nearly five‑acre parcel into a hotel, condominium, retail, and residential complex, a move that could inject fresh investment into downtown Jacksonville.
Simultaneously, DCPS is scouting new headquarters, weighing a Baymeadows site that offers ample space against a Midtown location that would keep the district closer to the current downtown center but at higher operating costs. No site has yet been chosen, so the board remains in a state of transition.
The board will reconvene in early 2026 to decide whether to accept Ashco’s offer and to outline the next phases of the due‑diligence process, while the district prepares contingency plans for its own relocation.