Shad Khan Isn't The Only One!

March 26, 2015 17 comments Open printer friendly version of this article Print Article

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.

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.

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