20 West Adams Street

[Non-RedNeck Westsider]

Lake is such a tease. 

Only if he copied the style of other website partners...

This project is starting back up. Shortly.

[Jax-Nole]

A 104-year-old building on Jacksonville's West Adams Street has been sold and could soon house dormitories for Florida State College at Jacksonville, which is asking for $1.2 million in city money.

Downtown Investment Authority CEO Aundra Wallace said former building owner Marion Graham sold the property at 20 W. Adams St. to Eugene Profit. Profit, a former NFL player, also owns 100 E. Bay Street, whose main tenant is Peterbrooke Chocolatier.

The plan for the site calls for $600,000 in grants to the property owner and $600,000 in forgivable loans at 0 percent interest to FSCJ over 10 years. The college would be able to use $60,000 a year to cover any shortfall between FSCJ revenue derived from student rentals and financial obligations to the developer, according to plans obtained from the DIA.

Wallace said the proposal that will be voted on by the DIA on Wednesday is a "good deal." He said the project will create more student housing for Florida State College at Jacksonville and restore a historic downtown building.

If the Downtown Investment Authority approves the grant and loans, the second through sixth floors of the Lerner Building will be converted into dorms for 60 students.

Broker Margie Seaman said the more than 5,500 square feet of space on the first floor will continue to be marketed as retail or restaurant space.

The developer's grant would go to cover expenses incurred during the reuse of the "historic landmark." The money would come out of the Downtown Historic Revitalization Fund and could be used for restoring the outside of the building and preservation of significant interior features, according to the DIA proposal.

The total cost of the development is estimated to reach $6.2 million, but including the value of the land and building, around $1.2 million.

The developer would also receive a $2.89 million loan from Presidential Bank, according documents submitted to the DIA.

If DIA approves the plan at its Wednesday meeting, it will have to be approved by the City Council.

http://www.bizjournals.com/jacksonville/news/2015/11/16/student-housing-coming-to-downtown-jacksonville.html

[thelakelander]

Nice move by FSCJ. It seems that they are serious about their intentions of growing the downtown campus to give their students a real college experience. I wonder if this means they've passed on the idea about doing the culinary school and housing in the buildings near Sweet Pete's?

[brainstormer]

^ I have a feeling they wouldn't embark on two residential projects before knowing whether or not one can be successful. This is another great building that needs to have its renovation completed. Although a little farther from campus, this is probably an area with more retail and bars/restaurants for students in the evenings. Now can we just approve the Trio funding and completely activate Laura and Adams!!! We are so close...

[thelakelander]

I wonder about the culinary component as well. It would be great to see them move their culinary institute to downtown.

[ProjectMaximus]

Nice move by FSCJ. It seems that they are serious about their intentions of growing the downtown campus to give their students a real college experience. I wonder if this means they've passed on the idea about doing the culinary school and housing in the buildings near Sweet Pete's?

Might have been just a poor choice of words but Wallace said:

He said the project will create more student housing for Florida State College at Jacksonville and restore a historic downtown building.

More than, say, the original amount created by the first project they are pursuing? I'm guessing not but we'll see.

[edjax]

I see the JBJ has updated the story and it now states that the first floor will be a culinary cafe leased by the college.

[thelakelander]

^Well, I guess that sums it up. Assuming the Trio project gets done, this little cluster of activity will be a huge boost for the Laura Street corridor. Hopefully, FSCJ continues to grow their downtown campus south of State & Union.

[thelakelander]

More details on both locations:

The college in July proposed development of the building at 218 W. Church St. for student housing. The proposal also included buying 502 N. Hogan St., which would have been used for the restaurant.

That plan was abandoned.

"The numbers just didn't work out," said college spokeswoman Jill Johnson. "We're moving to a different building but with the same concept. This is a better opportunity."

The project, estimated at $6.2 million, would renovate the building to create housing for 60 students on the second through sixth floors and a full-service restaurant on the ground floor that would be operated by students in the college's culinary arts program.

The developer is confident the housing component of the FSCJ project can be completed by August, meaning the first students would move in before the college's fall term begins, said Richman.

It could be the first of several similar projects to provide housing in the Downtown neighborhood for the college's students.

"We're in the process of cultivating some other opportunities," Richman said.

Full article: http://www.jaxdailyrecord.com/showstory.php?Story_id=546514

[Wacca Pilatka]

I'm sorry to see the 218 W. Church plan abandoned and hope something else comes along to save that building - Klutho's last downtown office building project if I recall? 

But as far as connectivity and impact goes, 20 West probably scores higher.  And it's exciting that this can come together so quickly, and that FSCJ is looking at other downtown opportunities.

[ProjectMaximus]

Great quote, Lake. Especially this part!!

"We're in the process of cultivating some other opportunities," Richman said.

[mtraininjax]

I see 20 west adams a long shot for FCCJ. Its 7-8 blocks away from the college and the students have to walk past the JTA bus depot, which is scary during the day, who know what it looks like at night. Ambassador Hotel is much closer, and there are no other buildings close to the space in Springfield or other spaces? Nice to see them looking to change, but its too far away, IMO, for students. Plus the terms are rediculous zero percent int loans for 10 years. LOL!

[Tacachale]

I see 20 west adams a long shot for FCCJ. Its 7-8 blocks away from the college and the students have to walk past the JTA bus depot, which is scary during the day, who know what it looks like at night. Ambassador Hotel is much closer, and there are no other buildings close to the space in Springfield or other spaces? Nice to see them looking to change, but its too far away, IMO, for students. Plus the terms are rediculous zero percent int loans for 10 years. LOL!

I believe the plan is for this to largely be residences for the culinary school, which would take space within the same building.

Also, it's 2 blocks from a Skyway station which leads right to the downtown campus. FSCJ Downtown students are probably the most versed in the city in taking public transit.

[CCMjax]

I see 20 west adams a long shot for FCCJ. Its 7-8 blocks away from the college and the students have to walk past the JTA bus depot, which is scary during the day, who know what it looks like at night. Ambassador Hotel is much closer, and there are no other buildings close to the space in Springfield or other spaces? Nice to see them looking to change, but its too far away, IMO, for students. Plus the terms are rediculous zero percent int loans for 10 years. LOL!

Wow, it amazes me that people in this town think walking 0.6 miles is far.  I walked that far every day to the train from my apartment before moving to Jax.  Also, if you live off campus in any real college town at any big university you will walk this far to class once and awhile, sometimes more.  But as Tac just posted it may be geared towards the students in the culinary school although I'm sure there would be others in there as well.

[Non-RedNeck Westsider]

...the JTA bus depot, which is scary during the day, who know what it looks like at night.

Scary?  Only if one forgets to remove their pointy hood before exiting the bus.  And it's actually a lot less busy at night since most of the riders are already home after working their job across town.

I still find it kind of amazing how shallow some people can be.  I shouldn't, but I still do.   Fucking poor people!

Edit:

Since I guess no one has told you yet, the guy on the street asking you for $.32 to catch a bus really isn't trying to catch a bus.  Usually, he needs some change to put together to grab a beer or a smoke.  I kind of thought that was common knowledge, but apparently it isn't.

I'd say 80% (unverified, so don't check) of the people on the bus are kids getting around town, elderly running errands or working people getting to and from jobs.  The only busses full of derelicts and drunks are the night trolleys running in riverside and at the beach.