Shad Khan Isn't The Only One!
Jacksonville Jag’s owner Shad Khan, and his company Iguana Investments, are proposing plans for a major to the Jacksonville shipyards. Khan’s money would transform the 48-cre lot on the downtown riverfront into a vibrant entertainment and leisure district.
However, Khan isn’t the first of his kind. What follows is a brief list of other major profession sport team owners who have invested in large scale urban redevelopment projects, too.
1.
Shad Khan
Team: NFL's Jacksonville Jaguars
Development: Jacksonville Shipyards
Khan’s proposal for the shipyards includes a riverwalk, mooring space for the USS Adams, a football themed park, and practice fields for his Jaguars. Khan’s project also calls for 1 million square feet of office space, 100,000 square feet of commercial space, 662 residential units, and 350 hotel rooms.
2.
Jeff Vinik
Team: NHL's Tampa Bay Lightning
Development: Tampa Waterfront 20/20
Owner of the Tampa Bay Lightning, Jeff Vinik, is investing approximately $1 billion to actualize his “Tampa Waterfront 20/20” project. Vinik has worked with his real estate team, Strategic Property Partners, for the last four years or so, buying up almost 40 acres of land surrounding the Lightning’s hockey and concert venue.
Vinick’s plan is to create a thriving neighborhood in Tampa’s Channel District that with propel economic growth in the area. Vinik hopes that this district will become a mecca for retail, dining, entertainment, and business.
As of now, the project itself envisions a water taxi, ferry, wharf, new park, and new boardwalk—all connecting residents to the waterfront. Additionally, a bridge would be built to cross over to dining and shopping, renovations would be made to existing buildings such as the Marriot Hotel, and the TECO Line Streetcar would be expanded.
The plan as of now is just a visionary; Vinick is encouraging locals to contribute to the plan through Tampa 20/20’s https://tampawaterfront2020.com/most-popular/">crowdsourcing website.
3.
Richard Devos
Team: NBA's Orlando Magic
Team owner and Amway co-founder Rich DeVos has gotten the OK to being working on a $200 million project that would be situated across the street from the Amway Arena. This land, which was bought for a little over $12 million, will house a 650,000 square foot mix-use, entertainment facility that would replace a parking garage and a few ground-floor retailers.
This complex would feature dining, shopping, and entertaining, and would also act as a corporate headquarters for the Orlando Magic. The hope, in later phases, is to also include living facilities, and for the complex to have the resources to host live music events, holiday events, and pre-game gatherings.
This is an attempt to continue to revitalize downtown and the project itself is projected to create nearly 300 permanent jobs for the area.
4.
Stephen Ross
Team: NFL's Miami Dolphins
Development: NYC's Hudson Yards
Owner of the Miami Dolphins, Stephen Ross, is currently developing the largest private real estate project in the nation. This project, called the “Hudson Yards,” is a 28-acre neighborhood in Manhattan’s West Side.
The project began in 2012 and is projected to be finished in 2020 with a hefty price tag of $12 billion. Upon completion, Hudson Yards will be the largest private development in New York City since the Rockefeller Center.
Because this project is being constructed over a working rail line, two platforms are going to be constructed to bridge 30 active train tracks, three subsurface rail tunnels, and a fourth passageway, the Gateway Tunnel. All rail lines are going to remaining functional during construction.
Hudson Yard will have over 17 million square feet of commercial and residential space. It will also include 5 office towers, more than 100 stores, a large collection of restaurants, thousands of residential spaces, a luxury hotel, and a public school.
5.
Dan Gilbert
Team: NBA's Cleveland Cavaliers
Development: Downtown Detroit
https://criticalmoment.files.wordpress.com/2014/02/dangilbert1.jpg
Owner of the Cleveland Cavaliers, Dan Gilbert, is trying to revitalize the heart of downtown Detroit. A native to the area, Gilbert has big plans for the area.
Gilbert has spent $1 billion on nearly four million square feet of real estate for the project. Gilbert and his real estate company, Bedrock Real Estate Services, are also renovating old properties and working on the plans for a light rail system in the area. Gilbert also hopes to create lots of outdoor seating as well as ground-level retail strips. The hope is to attract young entrepreneurs and turn Detroit into a high-tech hub.
It is being said that Gilbert’s project, “Opportunity Detroit,” is one of the most ambitious, privately financed urban reclaim projects in history.
https://blog.thedetroithub.com/wp-content/uploads/2013/03/capitol-park-downtown-detroit-vision-dan-gilbert.jpg
Courtesy of the Detroit Free Press
https://blog.thedetroithub.com/wp-content/uploads/2013/03/high-res-campus-martius-rendering.jpg
Article by Kristen Pickrell
Shad Khan
Team: NFL's Jacksonville Jaguars
Development: Jacksonville Shipyards
Khan’s proposal for the shipyards includes a riverwalk, mooring space for the USS Adams, a football themed park, and practice fields for his Jaguars. Khan’s project also calls for 1 million square feet of office space, 100,000 square feet of commercial space, 662 residential units, and 350 hotel rooms.
Shipyards Video from Populous on Vimeo.
2.
Jeff Vinik
Team: NHL's Tampa Bay Lightning
Development: Tampa Waterfront 20/20
Owner of the Tampa Bay Lightning, Jeff Vinik, is investing approximately $1 billion to actualize his “Tampa Waterfront 20/20” project. Vinik has worked with his real estate team, Strategic Property Partners, for the last four years or so, buying up almost 40 acres of land surrounding the Lightning’s hockey and concert venue.
Vinick’s plan is to create a thriving neighborhood in Tampa’s Channel District that with propel economic growth in the area. Vinik hopes that this district will become a mecca for retail, dining, entertainment, and business.
As of now, the project itself envisions a water taxi, ferry, wharf, new park, and new boardwalk—all connecting residents to the waterfront. Additionally, a bridge would be built to cross over to dining and shopping, renovations would be made to existing buildings such as the Marriot Hotel, and the TECO Line Streetcar would be expanded.
The plan as of now is just a visionary; Vinick is encouraging locals to contribute to the plan through Tampa 20/20’s https://tampawaterfront2020.com/most-popular/">crowdsourcing website.
3.
Richard Devos
Team: NBA's Orlando Magic
Team owner and Amway co-founder Rich DeVos has gotten the OK to being working on a $200 million project that would be situated across the street from the Amway Arena. This land, which was bought for a little over $12 million, will house a 650,000 square foot mix-use, entertainment facility that would replace a parking garage and a few ground-floor retailers.
This complex would feature dining, shopping, and entertaining, and would also act as a corporate headquarters for the Orlando Magic. The hope, in later phases, is to also include living facilities, and for the complex to have the resources to host live music events, holiday events, and pre-game gatherings.
This is an attempt to continue to revitalize downtown and the project itself is projected to create nearly 300 permanent jobs for the area.
4.
Stephen Ross
Team: NFL's Miami Dolphins
Development: NYC's Hudson Yards
Owner of the Miami Dolphins, Stephen Ross, is currently developing the largest private real estate project in the nation. This project, called the “Hudson Yards,” is a 28-acre neighborhood in Manhattan’s West Side.
The project began in 2012 and is projected to be finished in 2020 with a hefty price tag of $12 billion. Upon completion, Hudson Yards will be the largest private development in New York City since the Rockefeller Center.
Because this project is being constructed over a working rail line, two platforms are going to be constructed to bridge 30 active train tracks, three subsurface rail tunnels, and a fourth passageway, the Gateway Tunnel. All rail lines are going to remaining functional during construction.
Hudson Yard will have over 17 million square feet of commercial and residential space. It will also include 5 office towers, more than 100 stores, a large collection of restaurants, thousands of residential spaces, a luxury hotel, and a public school.
5.
Dan Gilbert
Team: NBA's Cleveland Cavaliers
Development: Downtown Detroit
https://criticalmoment.files.wordpress.com/2014/02/dangilbert1.jpg
Owner of the Cleveland Cavaliers, Dan Gilbert, is trying to revitalize the heart of downtown Detroit. A native to the area, Gilbert has big plans for the area.
Gilbert has spent $1 billion on nearly four million square feet of real estate for the project. Gilbert and his real estate company, Bedrock Real Estate Services, are also renovating old properties and working on the plans for a light rail system in the area. Gilbert also hopes to create lots of outdoor seating as well as ground-level retail strips. The hope is to attract young entrepreneurs and turn Detroit into a high-tech hub.
It is being said that Gilbert’s project, “Opportunity Detroit,” is one of the most ambitious, privately financed urban reclaim projects in history.
https://blog.thedetroithub.com/wp-content/uploads/2013/03/capitol-park-downtown-detroit-vision-dan-gilbert.jpg
Courtesy of the Detroit Free Press
https://blog.thedetroithub.com/wp-content/uploads/2013/03/high-res-campus-martius-rendering.jpg
Article by Kristen Pickrell