Jacksonville Jaguars owner Shad Khan ran away from the competition two years ago when the Downtown Investment Authority picked his firm to be master developer of The Shipyards, city-owned land that has been more field of nightmares than dreams.

That selection in 2015 never translated to a development contract, however, so Khan's firm, Iguana Investments Florida, is vying again to be master developer, this time against stiffer competition than two years ago when the contenders included a sketchy proposal for a replica of Noah's Ark.

The Downtown Investment Authority board is expected to make the call when it meets Tuesday.

Also competing for the right to be master developer of The Shipyards and neighboring Metropolitan Park are two Texas-based firms whose teams bring the firepower of long track records in real estate development.

The proposals all envision mixed-use developments that embrace the "live, work, play" model of using the 70 acres along the downtown riverfront. The bids envision several hundred million dollars of private investment on the property.

Presidium Group - which has offices in Dallas, Austin and Houston - offers to purchase the land outright for $20 million. Presidium's proposal says paying for the property up front would help the city foot the bill for environmental cleanup from when the land was a working shipyard.

Wess Holdings, which is based in Dallas, offers to lease the property from the city for $100,000 per year and pay up to $2 million to help the city with environmental cleanup. After the environmental cleanup is finished, Wess Holdings would be able to buy the property based on an appraisal done at that time, except for land set aside for a city park.

Iguana Investments would pay the city for pieces of property as the development unfolds. The purchase price paid to the city would be based on fair market value of the property as of March 2017, based on current conditions, such as lack of infrastructure and environmental problems.

When Iguana Investments got the nod in 2015, it faced competition from a Jacksonville resident who wanted to build a center for faith-based healing with a replica of Noah's Ark and another bid that sought to build a boatyard repair center for luxury "super" yachts without offering many details.

This time around, the contenders all have assembled teams with development experience.

The Presidium Group is proposing Sea Glass at The Shipyards, anchored by the 1,000-foot-high Sea Glass Tower that would have restaurants and a sky deck at the top of the tower.

"Sea Glass at The Shipyards development will be the centerpiece of the entertainment district on the North Bank," Presidium says in its written proposal. "Driving the energy of the development will be the beautiful Sea Glass Tower rising over 1,000 feet above the city of Jacksonville along the banks of the St. Johns River. Sea Glass Tower will represent the city's arrival on the international stage."

Presidium Group shows it is currently working on $504 million of projects, including a 350-unit apartment complex known as JTB on Jacksonville's Southside.

Wess Holdings has teamed up with EMJ Corp. which played a big role in the rebirth of Chattanooga, Tenn.'s downtown. Its proposal for The Shipyards and Metropolitan Park is JaxOne Innovation District, which takes its name from a concept based on making the property a hub for helping up-and-coming entrepreneurs hone their ideas. The building for that assistance would be called the Jacksonville Jobs Factory.

"While most other developers/bidders will propose a defined structure and and mix of commercial space, we are proposing a development that is at its core sustainable - one that before a hotel is built or a retail space is developed, has actually created an environment of new jobs and new businesses for Jacksonville," the group's proposal says.

Wess Holding's team includes Jacksonville-based Mission One Global, whose chairman is John Newman, a pastor and civic leader who serves on the Jacksonville Port Authority board.

Iguana Investment's proposal, titled The Shipyards Jacksonville, would build on what the city and the Jaguars are already doing with construction of Daily's Place, an amphitheater and indoor flex field next to EverBank Field.

Iguana shows an elevated walkway spanning Bay Street that would go to a new hotel with up to 500 rooms, and exhibition space next to it for conventions. The flex field in Daily's Place also would serve as exhibition space. Iguana's proposals says it would result in a sports, entertainment and convention district for the area that already includes the football stadium, arena and baseball stadium.

"The Shipyards will be a modern, urban and walkable destination that connects the sports complex and downtown Jacksonville, activates Bay Street, engages with Hogan's Creek Greenway and hosts activities throughout the year," Iguana's proposal says.

David Bauerlein: (904) 359-4581