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Jax? Lerp? Downtown Investment Authority taking next steps on former Landing site design

DIA says this was the only bid for the site.

JACKSONVILLE, Fla — The future of the former Landing site could be signed off on by Wednesday afternoon. 

You may remember the photos that caused some confusion. Does it say Jax? Or Lex? Or Lerp? Either way, it seems to be on its way to becoming reality.

The Downtown Investment Authority is meeting Wednesday afternoon to officially move forward with the plan for the 7 acre riverfront property, formerly known as The Landing and renamed Riverfront Plaza located on Independent Drive.

The renderings are now well-known. It's is a 166 million dollar proposal. 

The developer American Lions LLC is based out of New York. The plan is for a tower with 332 apartments, a 330-space parking garage and a 7,500-square-foot restaurant on the 44th floor. 

According to Jax Daily Record, American Lions LLC is part of Fetner Properties and the Lions Group. The companies own, manage and build large-scale developments in New York City. 

The DIA says the main purpose of this building would be residential with also some retail space integrated into the park space.

The meeting minutes report from May 16 show that it was the only bid made for the development of this land even though DIA initially had numerous developers reach out with ideas. 

The DIA says they had hotels reaching out about the space, but none followed through with a bid. So the board will move forward with this plan, which they seem to be pleased with.

Jax Daily Record reports hotels did not propose bids because of the cost of the space, the hotel industry outlook in the area, as well as the short timeline required for a bid.

Click here to watch: Jacksonville man gets 'lerp' tattoo commemorating proposed Downtown statue

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