The University of Florida’s much-heralded expansion into Downtown Jacksonville was initially framed as a $50 million investment in higher education, an early Christmas gift to the city. But as the celebratory glow fades, Jacksonville taxpayers are beginning to realize that the true cost of this endeavor will be far greater—potentially exceeding $2.5 billion once all related expenses are accounted for.

The initial funding was straightforward: $50 million committed by the Jacksonville City Council, followed by another $50 million pledged by Mayor Donna Deegan. But what wasn’t openly discussed in December 2024 was the ripple effect of the campus location—specifically, the need to replace the Prime Osborn Convention Center and the county jail. Those two projects alone have been estimated to cost taxpayers over $2 billion, a staggering sum for a city already facing projected budget deficits between $40 million and $100 million annually for the next four years.

Colliers International: An Honest Broker or a Conflicted Party?

One of the key sources shaping the valuation narrative is Colliers International, which has been quoted by the Florida Times-Union regarding the value of the city-owned land being handed over to UF. Colliers estimates the 13-acre convention center site at $15.52 million, with the historic train station portion valued at $1.68 million. But can Colliers be trusted to provide an unbiased assessment?

Colliers is not just a neutral party assessing land values—it has a direct financial interest in downtown development. The firm serves as the retail leasing agent for Gateway Jax, the developer seeking a lucrative land swap deal involving the Interline building. Gateway Jax purchased Interline for $4 million in October and now claims it is worth $7.5 to $8 million, conveniently positioning itself for a trade involving prime city-owned waterfront property valued at nearly $10 million. This raises the question of whether Colliers’ valuation of city assets is being skewed to benefit its private-sector partners.

Moreover, Colliers' political activity raises further concerns. The firm spent $500,609 on political contributions during the 2024 election cycle and is currently embroiled in lawsuits over alleged investment fraud in Utah and Texas. Given these conflicts, the numbers Colliers provides should be viewed with skepticism. A deeper examination into their potential influence over city planning decisions is warranted, particularly in light of their entanglements with private developers like Gateway Jax.

The Hidden Costs: A New Convention Center and Jail

The relocation of the convention center and jail was always inevitable given the decision to place the UF campus at Prime Osborn. And maybe that was on purpose, along with the slow roll of information about costs, including the February rush of the DIA board to approve the purchase of the Interline Building to get students on campus fast before the numbers came out. Can you think of another reason the real costs weren't factored into the initial public releases from the mayor and DIA?

The last serious attempt to build a new convention center was in 2018 when Dallas-based Jacobs proposed a $1.2 billion complex. That estimate was from seven years ago—before inflation and skyrocketing construction costs. If a similar facility were built today, the cost would likely be significantly higher, not lower. Yet DIA CEO Lori Boyer has been advocating for the new convention center to be placed at the site of the Police Memorial Building and the jail, conveniently ignoring the financial burden this will place on taxpayers.

Then there’s the jail replacement. City Council member Michael Boylan estimated in February 2024 that a new jail would cost approximately $1.2 billion. You didn't read that wrong. Estimates are for $1.2 billion each. No matter where the final price lands, this is an unavoidable expense that will directly hit Jacksonville taxpayers. Given that the city has long deferred major capital projects, the cost of both these new facilities will likely increase further if construction is delayed.

The Inevitable Taxpayer Burden

With a city already facing financial shortfalls, where will Jacksonville find the money for these projects? The answer is simple: higher taxes. City leaders have yet to offer a coherent funding plan, but with projected deficits and massive capital expenses on the horizon, residents should brace for tax increases to cover the costs of decisions made behind closed doors.

What’s more troubling is that city officials continue to downplay the long-term fiscal impact. Debt financing, bond measures, and public-private partnerships being discussed will inevitably push costs onto future taxpayers, locking the city into financial obligations that could stifle growth and economic opportunity for decades. Jacksonville’s residents should demand accountability now, rather than waiting until these financial burdens become irreversible.

As the reality of Jacksonville’s UF campus deal sets in, it’s time for honest conversations about the true price tag and a commitment to transparency. Jacksonville taxpayers deserve better than financial sleight-of-hand and vague promises. The bill for this “gift” is coming due, and the city’s residents will pay it. Strong oversight, detailed public disclosures, and a reassessment of the city’s spending priorities must become a top priority before Jacksonville plunges further into financial distress.