“Ariete Hospitality Group CEO Andrew Falsetto told the Jacksonville Business Journal in January 2025 that it is in discussions with building owner Group RMS to build out a restaurant on the ground floor of the Bank of America tower.” Falsetto and AHG (which owns nine, going on 12, restaurant/bar concepts in Miami, one of which has a Michelin Star) are interested in bringing a restaurant concept to Downtown Jax.
With restaurant concept plans in final stages and discussions ongoing with the Downtown Investment Authority, construction plans could unfold soon. The restaurant concept would go in one of the ground floor spaces in the tower, and doors would be added to allow for direct access from the street. This effort to turn the building “inside out” by allowing for exterior entry rather than one entry point and interior circulation is an urban planning best practice that promotes pedestrian activity.
Duval County Public Schools is actively exploring options to relocate its headquarters from the current building located at 1701 Prudential Drive. The school board has authorized the sale of the current building and is considering options for the future relocation of its offices. The property has been the district’s administrative home since 1981.
SouthEast Development Group is planning the adaptive reuse of three historic buildings for a 143-room Marriott Bonvoy – Autograph Collection Hotel and 29,000 SF of retail to include a high-end “Sophisticated Southern” restaurant, a 4,400 SF bodega, a rooftop bar, plus a parking garage. A second phase will construct 169 apartments and 6,550 SF of retail space.
Investment: $178,865,000
Status: In review
Gateway Jax purchased the Ambassador Hotel and nearby parcels in March 2025 for $17 million, with plans to transform it into a premier hospitality destination in partnership with the Indigo Road Hospitality Group. The team has begun work to convert the long-vacant, historic Ambassador Hotel into a 105-key hotel with a high-end restaurant and bar, conference space, and other amenities. The plans also include future development of the adjacent historic Central National Bank building and construction of a small parking garage to serve the hotel and Pearl Square.
