For a property that has already survived two failed sale attempts, the future of Duval County Public Schools’ Southbank headquarters is once again up for negotiation. The Jacksonville riverfront site, covering nearly five acres in one of the city’s most prominent locations, is now headed toward a potential sale after the School Board unanimously approved a new agreement with Ashco Inc. According to an online report by News4JAX, the latest deal could eventually open the door to a major redevelopment, with hotels, condominiums, retail and residential projects all possible under the proposed terms. But for now, the property’s next chapter remains far from certain.
A third attempt to sell
The School Board’s latest vote marks the third major effort in roughly a year to transfer the waterfront property to a private buyer, states the online report. In 2025, Fleet Landing submitted a $20 million proposal with plans for a retirement community. The district ultimately rejected the offer.The next proposal came from Chase Properties, whose $17.2 million bid was approved by the board in November 2025. Its plans envisioned a broader mixed-use project combining luxury condominiums, apartments, hospitality, restaurants and commercial space.That agreement unraveled several months later when Chase withdrew in February. Around the same time, the district terminated its plans to purchase a replacement headquarters on Prominence Parkway, leaving the future of its own headquarters uncertain, adds the online report.
Ashco gets its opportunity
Ashco’s proposal now moves into a lengthy due-diligence period. Under the agreement, the company has five days to place $1 million in escrow. That payment would begin a 120-day investigation covering issues such as zoning, soil conditions, environmental factors and other considerations that could influence redevelopment.Ashco can walk away during that period for any reason and receive its deposit back, meaning the latest agreement is still some distance from becoming a completed sale, states the report by News4JAX.Even after the investigation period, closing could take considerably longer. The agreement allows an outside closing date extending up to three years after the due-diligence period ends.The final purchase price is also lower than the figure previously associated with Ashco, states the report. District officials had reported in September that the company offered $15.6 million, just above a $15.5 million proposal from Bainbridge Communities. The agreement approved by the board lists the purchase price at $15.132 million. The district says two independent appraisals determined that the price meets or exceeds the property’s appraised value.
What comes next for the district?
Selling the Southbank headquarters would leave DCPS with another major decision: where to relocate its operations. The district has narrowed its search for a new headquarters to Baymeadows and Midtown, but both locations present challenges. Baymeadows offers enough space for the district’s workforce, while its distance from the current downtown area has emerged as a concern.Midtown could provide a more central alternative, but the cost of maintaining a downtown-area presence remains a significant consideration. For now, no final site has been selected. As Ashco begins its review of the riverfront property, DCPS is simultaneously navigating its own search for a new home, leaving both the development site and the district headquarters in a state of transition, informs the report by News4JAX.Image Courtesy: News4JAX
