Shad Khan’s investment group seals the deal on two properties, future redevelopment planned – Action News Jax
JACKSONVILLE, Fla. — Jacksonville Jaguars owner Shad Khan has officially added new properties to his name.
His investment group now owns Seahorse Oceanfront Inn and Lemon Bar in Neptune Beach. These moves are part of a larger, future development.
So far, parking behind the hotel has some upgrades and instead of cash-only, people can now use a credit card to pay.
After months of discussion, Shad Khan’s Iguana Investments Florida LLC has sealed the purchase of the two iconic spots on Neptune Beach.
“I think it’s exciting to bring new ownership to a business especially because it brings new ideas,” Jacksonville resident Tanya Torres told Action News Jax.
While some are excited about the changes, others want to keep the old charm.
“We want it to stay as it is,” Neptune Beach resident Monette Reardon said. “We are not opposed for Shad Khan to come in and spruce it up. But let’s just keep it as it is.”
Iguana said business at both locations will continue as is but under a new management group called Remington Hospitality.
Khan said in a statement, “The Lemon Bar and Seahorse Oceanfront Inn are local treasures that represent the best of the beach lifestyle that is synonymous with visiting and living in Neptune Beach and Northeast Florida.”
Executives of the Jaguars were seen at Lemon Bar celebrating the deal.
Neighbors hope the changes will modernize the popular spots.
“I like that it’s close to the beach, but maybe a few more changes to the seating or anything that makes it a little more modern that reflects my generation,” Torrest said.
However, not everyone is optimistic about the possibility of change.
“It’s just more about the culture and that’s what we want to keep,” Reardon said. “The culture, the community. And we don’t want to overdo anything.”
The extent of the changes is still under development. Iguana said it plans to redevelop the property as a boutique resort hotel to potentially include amenities like a spa, beach club, fitness center and restaurant.
[SIGN UP: Action News Jax Daily Headlines Newsletter]
Action News Jax reached out to the Jags about the details of this purchase, but say they won’t make any additional comments at this time.