Jacksonville’s Downtown Investment Authority board signed off Wednesday on a $200,000 incentive for Hi Fi Lounge, a vinyl-record listening room, restaurant and lounge planned for the second floor of the Hutchinson-Suddath Building at 315 E. Bay St. The team behind the concept is the same group that operates Keane’s Irish Pub and Decca Live, and they are pitching Hi Fi Lounge as a spot that pairs high-quality acoustics with late-night food and drinks.
As reported by Jax Daily Record, the board approved the incentive on a 7-0 vote, with two members absent, and will route the money through the DIA’s Retail Enhancement Program. The staff report labels Hi Fi Lounge as a vinyl-record listening room, restaurant and lounge, with a total project investment of $590,750. The $200,000 is structured as a forgivable, no-interest loan that amortizes at 20% per year over five years, as long as the venue remains open continuously during that period.
How the grant is structured
DIA’s Retail Enhancement Program typically ties its awards to completed build-outs and ongoing operation. Term sheets convert grants into forgivable, zero-interest loans on a five-year schedule, with 20% of the principal forgiven each year. As outlined in DIA meeting materials, both disbursement and annual forgiveness hinge on proof of eligible expenses, code compliance and meeting minimum operating commitments.
What Hi Fi Lounge will offer
According to the staff report, the space is designed for DJ programming, genre-specific listening sessions and themed events in a controlled, immersive setting with upgraded acoustics and lounge-style seating. Planned hours of operation run from 4 p.m. to 3 a.m. daily, and the proposed food lineup includes charcuterie, burrata and roasted tomato, sliders and a burger, bao buns and chicken wings. Operators have also committed to staffing at least two full-time equivalent employees. The DIA packet pegs the total investment at about $590,750 and notes that the grant is part of the agency’s targeted food-and-beverage program, per Jax Daily Record.
A small bet on Bay Street’s nightlife
The lounge is set to join a growing cluster of music and nightlife venues on the 300 block of East Bay Street. Decca Live, which continues to book national and local acts, operates at 323 E. Bay St., reinforcing the block’s entertainment identity. With that portfolio already on the street, Hi Fi Lounge appears positioned to complement, not replace, the existing dance-floor venues by carving out a quieter listening-room niche for audiophiles and late-night diners. If the concept lands, it could serve as another example of the DIA using targeted incentives to diversify downtown’s nighttime scene.
The DIA’s vote gives the project an early green light to enter the build-out and permitting phase under the agency’s standard forgiveness terms. Operators must still complete construction and meet reporting benchmarks before any funds go out, as tracked in DIA materials. No opening date has been announced, and the timeline will depend on permitting, financing and build-out progress.
