NEPTUNE BEACH, Fla. – Jaguars owner Shad Khan’s development company, Iguana Investments Florida LLC, acquired the Seahorse Oceanfront Inn and Lemon Bar in Neptune Beach in August 2023 for $36.95 million, marking Khan’s first project outside downtown Jacksonville.
Now, documents obtained by News4JAX indicate that plans for the properties may include a private beach club, spa, fitness center, restaurant, improved Lemon Bar, parking, and retail space, transforming the area into a boutique resort hotel.
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And residents have expressed mixed reactions to the proposed redevelopment.
Jake Mitchum, a Neptune Beach local, voiced concerns about potential overcrowding and the loss of the community’s local charm. “We’ve got enough traffic already coming through here... I don’t think that’s anything we are worried about from the moment,” Mitchum said.
Conversely, some residents welcome the changes.
Pashent Robinson believes the development will bring excitement and attract younger visitors to the area. “I think Neptune Beach is definitely ready for that... this will bring new fresher faces,” Robinson stated.
At this time, no final redevelopment plans have been submitted to the city of Neptune Beach. Iguana Investments has stated that business will continue at both the Seahorse Oceanfront Inn and the Lemon Bar under the management of Remington Hospitality, a national hotel management company.
As the community awaits further developments, Iguana Investments sent News4JAX the following statement:
Iguana Investments is currently operating the Seahorse Oceanfront Inn and Lemon Bar as is, with investments in capital improvements underway in the hotel rooms and the bar for our guests and patrons. There are no immediate plans for changes to the property. Once there are plans for the site, we will make a formal announcement and go through proper protocol with the city of Neptune Beach.
Spokesperson for Iguana Investments