After closing on the purchase of the property last year, Shad Khan’s investment company is looking to redevelop the Lemon Bar & Grille and the Seahorse Oceanfront Inn in Neptune Beach at 120 Atlantic Blvd.
Iguana Investments Florida LLC plans to redevelop the restaurant and hotel with other possible amenities, including a fitness center, a restaurant, parking, spa, or retail space, according to the Jacksonville Business Journal. The investment company recently has brought on Dallas-based Remington Hospitality to run day-to-day operations. Remington also operates Crowne Plaza near the JAX airport, the Hilton Garden Inn in Deerwood Park, and the SpringHill Suites on Southside Boulevard.
The new hotel and restaurant don’t have an exact opening date, but the release says this is a long-term project, and the property is currently under development. Shad Khan paid $36.95 million for the Seahorse Oceanfront Inn last year. The group plans to create a boutique resort hotel, including additional amenities and supporting uses.
“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,” Khan said in a press release. “It is with great enthusiasm and respect that we take this torch from the Cole Family, and now look forward to serving the Neptune Beach community while playing a role in the continued growth of the Beaches Town Center for many years to come.”