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The District takes step toward infrastructure construction with land sales | Jax Daily Record | Jacksonville Daily Record

Preston Hollow Capital LLC completed two required land sales of 9.86 acres to prepare the site of its $600 million The District for infrastructure and vertical construction on the Downtown Southbank.
Elements Development of Jacksonville, a subsidiary of Dallas-based Preston Hollow, sold 5.34 acres to The District’s Community Development District for roadway, sidewalks and other infrastructure, according to the development’s engineer, Kimley-Horn & Associates, and CDD management firm DPFG Management and Consulting LLC.
The District CDD was established in October 2018. It’s a state-regulated extension of city government that allows developers and communities to secure financing for constructing, acquiring, operating and maintaining public infrastructure improvements. ....

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The District on Downtown Southbank secures $35.6 million bond financing | Jax Daily Record | Jacksonville Daily Record

02:16 PM EST
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Preston Hollow Capital plans to start infrastructure work in early 2021 for the estimated $600 million mixed-use development.
Preston Hollow Capital LLC’s will meet its deadline from the Downtown Investment Authority to secure bond financing to fund site infrastructure for its $600 million project The District on Jacksonville’s Downtown Southbank.
Preston Hollow Managing Director Ramiro Albarran
The DIA announced Dec. 22 that The District Community Development District closed on $35.56 million in bonds. Preston Hollow Managing Director Ramiro Albarran said in an interview that the money was sent by wire transfer earlier in the day.
“We think it’s going to be an energizing project for the city of Jacksonville,” Albarran said. ....

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