Deutsche Bank considers Southbank in site search

[heights unknown]

City Leaders and the DT Development Authority (or whatever they call themselves nowadays), need to get together and coax, lure, and hypnotize the German Banking Giant to locate downtown on the FPL site; I lived in Germany for 2 years whilst in the USN and they are easily persuaded if good, valid and solid reasons are given as to why they should choose downtown for this Center. If vertical, the German Giant would always have "passer throughs" traveling on I-95, an awesome and dramatic view of their signage on the tower or towers; if horizontal, the same would apply, but, we all are hoping they go vertical; even if it's only 20 stories!

HU

[heights unknown]

I don't give a shit how the JEA land is configured if Deutsche Bank chooses to consolidate a large campus there.  That would be the biggest game changer for downtown Jax and Jacksonville in general in a really really long time.  Having Deutsche Bank locate a sizable office in downtown Jax that rivals anything it has in NYC would be something that puts Jax on the map in the minds of lots of other firms -

Other banks
Support firms
Various companies that do business with Deutsche (my own being one - we just hired an analyst from Deutsche's SF office and Deutsche markets our securities to investors overseas)

and for all of us looking for more development, I guarantee this would turn heads for every major group out there.  As has been referenced today, not only is Jax not on anyone's radar, there is no compelling reason to bring any Jax deals up to any investment committee.  With Deutsche building a downtown office campus, a sizable one at that, all of a sudden there is a story and optimism and excitement, and certainly a game changer.

In my opinion you're not being crazy at alll, but that is a brilliant and awesome idea; I would say you almost have to extend the Riverwalk down to the tower(s). I believe that this is one of the "lures" that could be used to persuade the German Giant to build on FPL property, and to go vertical along with it.

HU

[simms3]

Something like what they have in Frankfurt might be nice.....

If it's a call center operation, I'd expect it to be more horizontal than vertical - but whatever, bring it on!

http://en.wikipedia.org/wiki/Deutsche_Bank_Twin_Towers

DB's presence in Jax is varied with most of their various departments and divisions having professionals in Jax.  It's definitely not a call center and is akin to Goldman Sach's expansion/move into Salt Lake City (which has a DT presence as the anchor for the city's newest office tower).  DT Jax employees would be paid very well for the market, and a lot less than what they would be paid in NYC (the whole reason for financial services' expansion into small markets).

Deutsche has a Wealth & Asset Mgt group that used to go by the name of REEF, and they manage a ~$20B portfolio of real estate for both institutional investors and private individuals.  In other words, there would very well be the possibility that DB brings in a developer relationship (large national type developer that likely hasn't any past projects in Jax) and an operational/brokerage/project management relationship (like a CBRE or JLL) to throw up a phased, mixed-use style development with DB's "campus" as the focal point.

I don't give a shit how the JEA land is configured if Deutsche Bank chooses to consolidate a large campus there.  That would be the biggest game changer for downtown Jax and Jacksonville in general in a really really long time.  Having Deutsche Bank locate a sizable office in downtown Jax that rivals anything it has in NYC would be something that puts Jax on the map in the minds of lots of other firms -

Other banks
Support firms
Various companies that do business with Deutsche (my own being one - we just hired an analyst from Deutsche's SF office and Deutsche markets our securities to investors overseas)

and for all of us looking for more development, I guarantee this would turn heads for every major group out there.  As has been referenced today, not only is Jax not on anyone's radar, there is no compelling reason to bring any Jax deals up to any investment committee.  With Deutsche building a downtown office campus, a sizable one at that, all of a sudden there is a story and optimism and excitement, and certainly a game changer.

Deutsche Bank is expanding in Jax regardless - right?  SO does it really make that much difference to all the other parties you speak of that it would be DT rather than SS?   Don't get me wrong, I understand it is a big deal in terms of DT redevelopment whether it goes DT or SS, but how is it that relevant to them and whether or not those you speak of would invest here? 

I disagree that the way it is developed is inconsequential.  I could easily see this developing in a suburban style, then years later Deutsche moves on and we are stuck with it. 

DB's overall expansion into Jax is somewhat of a story, but I think it gets glossed over and put in the same category as Merrill Lynch's large suburban presence here.  I don't think it gets nearly the same press as GS's expansion into SLC, and part of that in my opinion is the fact that DB hasn't been part of the downtown redevelopment story.  It takes more than just an expansion.

My concern with DB's Jax expansion all along has been the QoL/talent pool dearth, which is not enhanced at the young professional level by locating in suburban Jacksonville.  SLC has 2 universities feeding its economy (BYU and Utah) and a very well known downtown story/urban development story (they are also expanding transit like crazy).  GS's name/expansion into SLC is tied into the greater SLC story.  DB is really only tied well into local publications as an employment story and nothing more, and has received some press as part of the overall story that FIRE firms are partially leaving NYC for small markets.  It has nothing to do with Jacksonville's blossoming downtown and overall citywide rebirth, the amazing talent pool here attracted by QoL, or DB by itself.

In that end, I think DB helps itself and helps the city by moving downtown, and a story begins to be told.  There's still really no "Jax" story when they're stuck way out there in the burbs.

[tufsu1]

So you are speculating that Mayor Brown suggested the Deutsch Bank relocation?

I'm suggesting that he has an economic development team that has been charged with selling the city....and downtown in particular....that's how the Everbank deal got done.

[SunKing]

So you are speculating that Mayor Brown suggested the Deutsch Bank relocation?

I'm suggesting that he has an economic development team that has been charged with selling the city....and downtown in particular....that's how the Everbank deal got done.

What? 
Are you kidding me???
You have absolutely no idea what you are talking about.  Brown had literally NOTHING to do with this deal. It was years in the making and closed literally as he took office.  The move was enhanced by a qualified tax refund that is primarily a state program for Enterprise Zones.

[spuwho]

I don't give a shit how the JEA land is configured if Deutsche Bank chooses to consolidate a large campus there.  That would be the biggest game changer for downtown Jax and Jacksonville in general in a really really long time.  Having Deutsche Bank locate a sizable office in downtown Jax that rivals anything it has in NYC would be something that puts Jax on the map in the minds of lots of other firms -

Other banks
Support firms
Various companies that do business with Deutsche (my own being one - we just hired an analyst from Deutsche's SF office and Deutsche markets our securities to investors overseas)

and for all of us looking for more development, I guarantee this would turn heads for every major group out there.  As has been referenced today, not only is Jax not on anyone's radar, there is no compelling reason to bring any Jax deals up to any investment committee.  With Deutsche building a downtown office campus, a sizable one at that, all of a sudden there is a story and optimism and excitement, and certainly a game changer.

Simms, its the very fact you state that makes Jacksonville all the more attractive. No competition for prime real estate. No one is falling over themselves for the JEA brownfield or any other riverfront property. That means increased value for Deutsche. 

Overall I wouldn't get to hung up on Southside V2.0 talk. Bringing that many people downtown would revitalize the southbank, no doubt. And if Deutsche left in 20-25 years? Ok, so what? Like Jacksonville hasn't had a vacant property before? We will either tear it down, fine it to oblivion, or do a court foreclosure on it and then flip it to Edward DuPont Ball IV.

[ProjectMaximus]

So you are speculating that Mayor Brown suggested the Deutsch Bank relocation?

I'm suggesting that he has an economic development team that has been charged with selling the city....and downtown in particular....that's how the Everbank deal got done.

What? 
Are you kidding me???
You have absolutely no idea what you are talking about.  Brown had literally NOTHING to do with this deal. It was years in the making and closed literally as he took office.  The move was enhanced by a qualified tax refund that is primarily a state program for Enterprise Zones.

Tufsu was talking about the fact that DB is considering the southbank. Not DB's move to Jax. I don't find that as much of a stretch either, although it's pure speculation.

[tufsu1]

So you are speculating that Mayor Brown suggested the Deutsch Bank relocation?

I'm suggesting that he has an economic development team that has been charged with selling the city....and downtown in particular....that's how the Everbank deal got done.

What? 
Are you kidding me???
You have absolutely no idea what you are talking about.  Brown had literally NOTHING to do with this deal. It was years in the making and closed literally as he took office.  The move was enhanced by a qualified tax refund that is primarily a state program for Enterprise Zones.

as noted in the post above I wasn't talking about the deal that brought Deutsch here in the first place...am talking about the idea of getting them to relocate/expand downtown

[SunKing]

So you are speculating that Mayor Brown suggested the Deutsch Bank relocation?

I'm suggesting that he has an economic development team that has been charged with selling the city....and downtown in particular....that's how the Everbank deal got done.

What? 
Are you kidding me???
You have absolutely no idea what you are talking about.  Brown had literally NOTHING to do with this deal. It was years in the making and closed literally as he took office.  The move was enhanced by a qualified tax refund that is primarily a state program for Enterprise Zones.

as noted in the post above I wasn't talking about the deal that brought Deutsch here in the first place...am talking about the idea of getting them to relocate/expand downtown

Got it. so you long as you are not giving this mayor credit for the Everbank move.  That was all Peyton.

[pierre]

Wow, this would be a game changer for sure. Would be nice to get the school board off the river as part of the move too.

Imagine Deutsche Bank employees living on the northbank and taking the Skyway across the river to the new office on the southbank. The Skyway station is only about a block away.

[fsujax]

Would be a huge win for Downtown. Just having the DB logo on the skyline would be a nice addition. Not to mention all the other secondary effects of a such a large project in the urban core.

[ProjectMaximus]

Bank of America had a lot to do with the resurgence of urban Charlotte...maybe the Bank of Germany will do the same here haha.

[simms3]

Would be a huge win for Downtown. Just having the DB logo on the skyline would be a nice addition. Not to mention all the other secondary effects of a such a large project in the urban core.

Building signage is wayyy overrated.  Jax has way too much signage as it is, so I hope DB can integrate into a nice new multi-tenant office building either without signage (if it's high rise), or tasteful signage (if it's low/mid-rise).

[tufsu1]

Bank of America had a lot to do with the resurgence of urban Charlotte...maybe the Bank of Germany will do the same here haha.

the BIG difference is BOA is in the heart of Uptown Charlotte....Deutsche Bank would be on the edge of the southbank, somewhat isolated from the downtown core.

That said, it would still be a huge win for InTown Jax, as employees may choose to live, shop, and recreate closer to their offices.

[thelakelander]

If they selected the JEA site, they'd essentially become Jacksonville's version of Omaha's ConAgra....


ConAgra's corporate offices is the low rise campus along the riverfront.

http://blog.capitalexpress.biz/wp-content/uploads/2013/07/OmahaNE_Aerial.jpg