San Marco Publix project still alive

[jaxlongtimer]

Zimmermann Boulos, board member of the San Marco Preservation Society, says he has been coming to San Marco for decades and "there's never been a grocery store in San Marco." 

Well, not exactly .  There was an A & P grocery store decades ago where the current Bank of America building sits.  And, Pic N Save had some sort of stripped down "grocery" section, as I recall.

[ProjectMaximus]

Long speculated San Marco project to move forward..

http://www.firstcoastnews.com/news/local/san-marco/long-speculated-san-marco-project-to-move-forward/94168224

Thanks, Ryan!! Fingers crossed!

[JaxJersey-licious]

About damn time!  Let's hope it's for real this time.

I love how they talk about hidden parking like it's a breakthrough earth-shattering concept (which locally, it kind of is) . . .

As for parking?  Thompson says the development will be built in a "stacked" style much like is popping up in Atlanta. The 589 or so parking spots will be "embedded" or underneath.  As you drive by, he says, "All you'll see is retail with residential on top."  He says this type of construction is more expensive to tackle, but he thinks it's right for the San Marco location.

So what they're saying is this much needed project went through years of countless starts and stops not because of market conditions or financing but because Jacksonville was not prepared, until now, to have it's mind blown by big city magic fancy-scarf carpark revolution

[Captain Zissou]

So what they're saying is this much needed project went through years of countless starts and stops not because of market conditions or financing but because Jacksonville was not prepared, until now, to have it's mind blown by big city magic fancy-scarf carpark revolution

Sort of.  Banks considered this an untested development model in the Jacksonville market and were hesitant to provide funding.  So the banks were waiting for jax to wrap their heads around a building with both residential and a grocery store and a shared parking garage inside it... MIND BLOWN!!!

[Tacachale]

So what they're saying is this much needed project went through years of countless starts and stops not because of market conditions or financing but because Jacksonville was not prepared, until now, to have it's mind blown by big city magic fancy-scarf carpark revolution

Sort of.  Banks considered this an untested development model in the Jacksonville market and were hesitant to provide funding.  So the banks were waiting for jax to wrap their heads around a building with both residential and a grocery store and a shared parking garage inside it... MIND BLOWN!!!

I don't think it has anything to do with Jax wrapping our heads around the project. Is has to do with whether the investors can hope to make enough money off it to turn a profit. If there was profit in it, or if banks thought there would be, we'd see more of these types of projects whether or not people here had their heads around it.

[Tacachale]

But at any rate, this is a long time coming. 10 years of delays has made a lot of people skeptical, but if they pull this off it will be a big deal for both San Marco and for development in the urban core.

[Captain Zissou]

^The Metropolitan Building in Jax Beach and 1661 Riverside (condos not apartments) were the Jacksonville metro area's first forays into mixed use residential on this scale, but banks were waiting to see the performance of 220 riverside before they committed to the funding for East San Marco.  I don't know enough of the intricacies to know why 220 received financing first (after 6 years of delays instead of 10), but nobody wanted to be the first mover due to what they thought was an untested product entering a new market. 

I'm interested to see the price points and how well they are received.  I'm expecting some of the priciest apartments in the city.   

[Tacachale]

^That's as much a problem with outside investors as anything. Though COJ hasn't exactly been proactive in courting new urban development for a long time. As far as the price points, yes, it's likely to be very expensive. I also don't foresee them having any trouble with takers. Unlike the areas around the Brooklyn developments, property in this area is already pretty steep.

[FlaBoy]

This will be great for San Marco and for the Southbank. The area around here could be absolutely electric in a few years with all the projects. However, I will believe it when I see it 

[joshuataylor]

^The Metropolitan Building in Jax Beach and 1661 Riverside (condos not apartments) were the Jacksonville metro area's first forays into mixed use residential on this scale, but banks were waiting to see the performance of 220 riverside before they committed to the funding for East San Marco.  I don't know enough of the intricacies to know why 220 received financing first (after 6 years of delays instead of 10), but nobody wanted to be the first mover due to what they thought was an untested product entering a new market. 

I'm interested to see the price points and how well they are received.  I'm expecting some of the priciest apartments in the city.   

The Daily Record is quoting $1200-$1500 for 1BR, $1800-$2000 for 2BR. I bet that number increases based on demand too.

[acme54321]

Don't forget about Jackson Square either, I heard rumblings about behind the scenes work regarding that a while back.  I wouldn't be surprised if other big things happen on that stretch of Phillips just south of Atlantic in the coming years.  It's the church, motel 6 and spotty houses back there, should be easy pickings for a developer with some money and they new exit straight to I95 will make it prime real estate.  How about a Brightline station/TOD?  FEC's ROW right there is already like 200' wide since they had a yard there at one point.  They wouldn't have to mess around with the city and the union terminal either.

[Captain Zissou]

What's going to become of the parcel that had the townhouses on it in the renderings.  St Francis' Animal Hospital is moving from right there and I guessed that is because the property sold to someone looking to develop that site.  Is this whole area going to transform?

[MusicMan]

"Spotty houses back there?"  I take offense, sir. I own one of those and just put it under contract for $115,000.

[JaxJersey-licious]

I'm just glad they decided against going condo which they would have eventually changed to rentals anyway. Hope it doesn't take away they hype and possible tenants from the Broadstone project by the river. Given the scope and uniquness of this project, Jacksonville may need to get ready for another new concept: Grocery store validated parking.

[jcjohnpaint]

At the rate they are building apartments in the Southside, I don't think we will ever run out of people willing to move into these places.