Jacksonville Development News

[Lakelander]

I'm a Jax 2025 steering committee member. Here is a direct link to the survey:

http://www.jax2025.org/take-survey/

[FLAWDA-FELLA]

JAA to build new hangar at Cecil Airport that will create up to 400 new jobs.

http://jacksonville.com/business/201...e-400-new-jobs

[Lakelander]

Renderings of a few urban core projects up for review this week:

Riverside Park - 310 apartment units




Riverside Park's retail component - This one will probably catch some flack from the review board because it's too suburban. Nevertheless, it will include a organic grocery store, pharmacy, some retail and a few restaurants. It has to be setback somewhat from the street because it fronts land reserved for a future skyway station.






Retail infill on the Southbank - This one is pretty interesting. The proposal is to squeeze a few restaurant spaces on a narrow grass strip between Baptist Medical Center and the Aetna Tower's parking garage.






The Laura Trio & Barnett National Bank - The oldest skyscrapers in Florida have been purchased by a locally formed REIT that wants to restore them into a boutique hotel. The REIT also purchased the former 1920s headquarters of Barnett Bank. It will be restored and converted into a vertical college that includes dorms. All of these buildings were purchased for the whopping price of $3 million.

Barnett Bank Building


Laura Trio buildings


A previous rendering of the project. The development team will be releasing their updated plans on April 17, 2013:


Because they're in bad shape, most thought they would be torn down because of difficulties in financing them. However, the Jaguars new owner put up the cash for financing to work.

A Jacksonville group has purchased four buildings downtown, including the historic Laura Street Trio.
SouthEast Holdings, a real estate investment trust, paid $3 million for the trio — Florida Life, Bisbee and Florida National Bank, also known as the Marble Bank, at the intersection of Laura and Forsyth streets — and the Barnett Bank building at the corner of Adams and Laura streets.
Steve Atkins, who leads the purchasing group and has been involved for years with efforts to buy the buildings, said the Barnett building will become a university-level education center with student housing and that a parking garage will be built in the area. But he said he could give no more details — other than that the entire project will be mixed-use — before a major unveiling in two weeks.
The money was loaned to the group by Stache Investments Corp., which is headed by Jaguars owner Shad Khan.
The four buildings all date back to the first part of the last century, with the Marble Bank building the oldest at 111 years. Atkins said the Trio has been vacant for about 15 years and the Barnett building about 10 years.

full article: http://jacksonville.com/news/metro/2...dings-downtown

[spenser1058]

Thanks for posting these - I'm especially excited about Barnett and the Laura Trio. I have long believed that this is exactly the concept i was hoping for in Orlando with the former Ivey's and State Bank and Trust buildings. That would be the true "Creative Village;" sadly, we don't really have anyone with the deep pockets of Mr. Khan. In any event, great news for Jax!

[Lakelander]

^The funny thing is, a few years back, Cameron Kuhn swooped in and purchased these buildings and a few others in downtown. Many were excited because of his past in downtown Orlando. Before going belly up, he actually gutted them to their current condition.

[Dale]

Originally Posted by Lakelander

^The funny thing is, a few years back, Cameron Kuhn swooped in and purchased these buildings and a few others in downtown. Many were excited because of his past in downtown Orlando. Before going belly up, he actually gutted them to their current condition.

Talk about a riches to rags story ...

[spenser1058]

I'm old enough to have watched more than a few developers keep pumping projects too long for business cycles. I have to say, though, that at least in terms of Orlando, what Cameron accomplished downtown still remains a net positive. We're better off for his efforts and I would like to see him start again (having learned a few lessons.) Apparently he had the right idea in Jacksonville, too, but had taken on way too much when the bottom fell out.

[FLAWDA-FELLA]

According to Forbes, Jacksonville now ranks as the third-best city in the country for finding a job.

http://jacksonville.com/business/201...ry-finding-job

[Lakelander]

An Alabama-based development firm is planning to convert old Ambassador Hotel into 57 apartments.





full article: http://www.metrojacksonville.com/art...approval/page/

[Lakelander]

Waterfront luxury apartment, retail development planned in Avondale

A Jacksonville developer is looking to bring luxury apartments and retail to a site on the outer boundaries of Avondale.

Mike Balanky, president and CEO of Chase Properties Inc., is considering razing both the Commander apartments and St. Johns Villages retail center on St. Johns Avenue for a new development.

http://www.bizjournals.com/jacksonvi...velopment.html

Fear not, Avondale and Lakeshore residents: The Loop Pizza Grill will return to your neighborhood after the redevelopment of St. Johns Villages and Commander Apartments.

Chase Properties Inc. President and CEO Mike Balanky has proposed razing both the waterfront retail center and apartment complex on St. Johns Avenue to make way for a more urban, residential-on-top-of-retail development.

http://www.bizjournals.com/jacksonvi...velopment.html