Initially, the school board had approved a proposal from Chase Properties to purchase the current headquarters for $17.2 million. The deal, which narrowly passed with a 4-3 vote, aimed to transform the property at 1701 Prudential Drive into a vibrant mixed-use space, combining residential and commercial elements. Michael Balanky, CEO of Chase Properties, expressed his enthusiasm for the project back in 2025, calling the Southbank area a prime location and a “dream come true” for development.

However, with the termination of the agreement, the district is now left without a concrete timeline for future proposals or decisions regarding its administrative base. This development also affects plans for a new headquarters in the Baymeadows area. DCPS has decided to exercise its option to terminate an agreement with Dream Finders Home, which was valued at approximately $13.65 million.

As the situation unfolds, the school district will need to reassess and strategize its next steps. For now, the familiar halls of the Southbank headquarters will continue to serve as the nerve center for Duval County’s educational administration.

“We’ve just been really engaged on the Southbank,” Chase Properties CEO Michael Balanky told First Coast News in 2025. “It’s kind of a dream come true. I’ve always felt like that was one of the last best pieces of property.”

DCPS also announced that the district has “exercised its option to terminate” an approximately $13.65 million agreement with Dream Finders Home regarding a new headquarters location in the Baymeadows area.

“These actions are consistent with the School Board’s direction to avoid owning two properties simultaneously and to minimize unnecessary financial or operational overlap during any transition period,” officials say.

At this time, DCPS says no timeline has been established for future proposals or decisions regarding a new location.