The 19-story former JEA headquarters tower at 21 W. Church St. could soon be sold to a developer led by Live Oak Contracting. | Courtesy of JEA
Published on September 12, 2025 at 4:39 pm
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Jacksonville’s public utility JEA is in negotiation with a developer led by Live Oak Contracting LLC to sell its former Downtown tower and campus to be redeveloped into The Jewel.
On Aug. 21, JEA’s Awards Committee selected Live Oak’s plan to buy the utility’s former headquarters for $1 million and redevelop it into The Jewel mixed-use residential, retail and restaurant project.
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Karen McAllister, public informations officer for JEA, confirmed the selection and negotiation to Jacksonville Today in an email Friday. This story was first reported by the Florida Times-Union.
It was the highest ranking of two bids received by JEA to sell the 19-story tower at 21 W. Church St. that has been out of service since the utility completed construction and opened its new, seven-story headquarters a few blocks away, at 225 N. Pearl St.
A bid presentation submitted to JEA by the Live Oak and Lone Pine Development joint venture — The Jewel at 21 West LLC — says the project would include a minimum 180-unit residential component, penthouse residences, a rooftop lounge, amenity deck and a “destination” bar and restaurant or resident-only venue on the top floor, once the rotating restaurant The Embers.
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It also shows a ground-floor restaurant and retail.
Who is Live Oak?
The limited liability company poised to purchase the former JEA tower is spearheaded by Live Oak President and CEO Paul Bertozzi, who recently considered buying the long-vacant historic Laura Street Trio buildings, across the street from Live Oak’s Downtown office.
The proposal lists international design firm Gensler — responsible for Fidelity National Information Services’ $156 million headquarters in Brooklyn — as the project’s architect. Olto construction is the project’s contractor.
Bertozzi also has enlisted lobbyists and an attorney with connections to the city and former Mayor Lenny Curry’s administration. These include Curry’s current employer, lobbying firm Ballard Partners, led by the Curry administration’s former chief of staff, Jordan Elsbury.
Deno Hicks, managing partner of River North Strategies is also contracted with The Jewel, as well as former city General Counsel Jason Gabriel through law firm Burr & Forman.
What’s for sale?
JEA’s board of directors still has to approve the sale after negotiations are complete. If the board accepts the $1 million offer, the deal would include three buildings and an underground parking deck with 190 spaces.
The buildings include:
- The Tower — a 19-story office building constructed in the early 1960s with about 347,811 square feet at 21 W. Church St.
- JEA’s former Customer Center — a six-story office building constructed in the early 1960s with about 248,220 square feet adjacent to the Tower.
- The Adair Building — a parking garage with about 513 parking spaces that also includes street-level retail space, 421 Laura St.
The cash offer sits under the $28.53 million combined assessed value of the three buildings listed on the Duval County Property Appraiser’s online portal.
That’s a combined $23.78 million for the 19-story toward and former customer care center and $4.755 million parking structure.
The presentation says the offer is based on Live Oak’s underwriting which “assumes considerable costs related to environmental abatement, vertical retrofitting, and infrastructure upgrades required to bring the property to current code and tenantready conditions.”
Renderings of The Jewel show new glass fonts and balconies built into the 65-year-old high-rise, a fountain in front of the lobby entrance and rooftop trees.
The project says Live Oak will seek incentives from the city’s Downtown Investment Authority and will take an estimated 18 months to close on the property and complete the sale.
