Laura Street Trio in Trouble? Updated status of six key Downtown projects

[Native Girl]

"The most progressive cities around the world focus on preserving, restoring and utilizing their historic properties. One of the ways they do this is by embracing Public-Private-Partnerships.  For this project, the Private Sector will invest and finance 90% of the total cost of the project, with a proposed public investment from the City of Jacksonville for the balance, or 10% of the total costs." - barnet-trio.com

Atkins has the funding in place, a passion for Jacksonville, a firm plan of action for the trio, tenants that will bring revenue to the city, etc., etc.  What is taking the city so long to approve this project and inject 10% of the cost into it?  This project has been in front of them for YEARS.  Could it be that they can't see the forest for the trees -- the tree being Shad Khan?

The city is peeing in its pants to cowtow to Khan.  Where is Khan's passion for Jacksonville - in a severely suffering football team that he could up and move to another location?  We've already seen how he destroyed a 65 year-old Jacksonville business, the Edgewood Bakery.  Could One Spark have fizzled out because Khan cut ties with KYN?  KYN had the ideas, Khan had the money. 

Does anyone see a coincidence in the 2014 ousting of Stache Investments' Former Chief Investment Officer Jim Zsebok?

"Stache Investments Co. will continue to operate in Jacksonville and no projects currently under way or being considered by Stache will be affected."; Zsebok, who could not be reached for comment, has been a major part in the city's nascent innovation scene, with Stache Investments playing a key role in projects as diverse as the One Spark festival and the planned renovation of the former Barnett Bank building Downtown. -  Jacksonville Business Journal

Can someone name one or more businesses that Khan has supported?

Now the city has on its November 18 agenda to approve the much more recent proposal by Khan of once again making changes to the stadium and surrounding areas.  For what?  Because we have fervent Jacksonville Jaguars fans?!  I think not.  Even if it's to attract the opposing teams fans, where are they going to stay?  In the Hampton Inn across the river?  Does the city have money in its historic preservation fund or somewhere else to pay for it?  No, we have to pay for it -- and much, much more than 10% of it.  How many months (if not weekends) does the stadium bring in revenue for the city?  Wouldn't a mixed-use development such as the Trio with restaurants, a hotel, apartments, retailers, a bank and other businesses bring in monthly revenue to the city?

These are the issues and questions I have when the city is involved in any ventures that Jacksonville entrepreneurs try to pursue.  I also question why the media is not asking any of these questions. With a very small amount of research, anyone can find this info.  Is investigative journalism dead?  Could it be that the media, too, can only see the bright, shiny, huge yacht parked in front of the CSX building and all the superficial trappings that follow extreme wealth?

As Jacksonville citizens, we should demand that the Trio project take priority and a decision be made on the public-private partnership.  Downtown development is nil with the exception of the Jesse Ball Dupont Center which houses non-profits at lower market value and a spate of restaurants.  The Trio stands to brings in bookoos of tax revenue.  Right now, the powers that be in Jacksonville happen to be blinded by the grandiosity and wealth of one individual who makes unreliable promises. 

[Rynjny]

"The most progressive cities around the world focus on preserving, restoring and utilizing their historic properties. One of the ways they do this is by embracing Public-Private-Partnerships.  For this project, the Private Sector will invest and finance 90% of the total cost of the project, with a proposed public investment from the City of Jacksonville for the balance, or 10% of the total costs." - barnet-trio.com

Atkins has the funding in place, a passion for Jacksonville, a firm plan of action for the trio, tenants that will bring revenue to the city, etc., etc.  What is taking the city so long to approve this project and inject 10% of the cost into it?  This project has been in front of them for YEARS.  Could it be that they can't see the forest for the trees -- the tree being Shad Khan?

The city is peeing in its pants to cowtow to Khan.  Where is Khan's passion for Jacksonville - in a severely suffering football team that he could up and move to another location?  We've already seen how he destroyed a 65 year-old Jacksonville business, the Edgewood Bakery.  Could One Spark have fizzled out because Khan cut ties with KYN?  KYN had the ideas, Khan had the money. 

Does anyone see a coincidence in the 2014 ousting of Stache Investments' Former Chief Investment Officer Jim Zsebok?

"Stache Investments Co. will continue to operate in Jacksonville and no projects currently under way or being considered by Stache will be affected."; Zsebok, who could not be reached for comment, has been a major part in the city's nascent innovation scene, with Stache Investments playing a key role in projects as diverse as the One Spark festival and the planned renovation of the former Barnett Bank building Downtown. -  Jacksonville Business Journal

Can someone name one or more businesses that Khan has supported?

Now the city has on its November 18 agenda to approve the much more recent proposal by Khan of once again making changes to the stadium and surrounding areas.  For what?  Because we have fervent Jacksonville Jaguars fans?!  I think not.  Even if it's to attract the opposing teams fans, where are they going to stay?  In the Hampton Inn across the river?  Does the city have money in its historic preservation fund or somewhere else to pay for it?  No, we have to pay for it -- and much, much more than 10% of it.  How many months (if not weekends) does the stadium bring in revenue for the city?  Wouldn't a mixed-use development such as the Trio with restaurants, a hotel, apartments, retailers, a bank and other businesses bring in monthly revenue to the city?

These are the issues and questions I have when the city is involved in any ventures that Jacksonville entrepreneurs try to pursue.  I also question why the media is not asking any of these questions. With a very small amount of research, anyone can find this info.  Is investigative journalism dead?  Could it be that the media, too, can only see the bright, shiny, huge yacht parked in front of the CSX building and all the superficial trappings that follow extreme wealth?

As Jacksonville citizens, we should demand that the Trio project take priority and a decision be made on the public-private partnership.  Downtown development is nil with the exception of the Jesse Ball Dupont Center which houses non-profits at lower market value and a spate of restaurants.  The Trio stands to brings in bookoos of tax revenue.  Right now, the powers that be in Jacksonville happen to be blinded by the grandiosity and wealth of one individual who makes unreliable promises.

Dumbest post I have ever read..

[Snufflee]

The bias is strong today..

[blizz01]

Sounds like a scorned ex-baker...

[Native Girl]

Sorry, I'm not the baker.  I just get really frustrated every time I hear about downtown development and all the promising projects that are not and have not happened.  And such a fuss is made over anything Khan wants to do whether its best for the city or not.  I think he's shady.

[fsujax]

Maybe because Khan puts millions of his own dollars into the projects? that may be a reason the City bends over backwards to work with him, just saying. I do get your frustration with the hope of other projects moving forward and seeing them never get off the ground.

[RattlerGator]

The thing Shad Khan does to some people in this town is downright bizarre. Are these infrequent posters even real, or are they sock puppets?

[Native Girl]

The city does things to its own detriment.  Why not give the go ahead for the Trio which includes a hotel in the stadium's backyard which will infuse the hotel & bed tax fund to help pay for the stadium upgrades?  This is what I mean by seeing only the bright, shiny things.  I may be wrong but I don't think a new contract has been set for the Florida-Georgia game which brings in $300-400 million for the city -- all because the number of seats will be reduced.

[edjax]

The city does things to its own detriment.  Why not give the go ahead for the Trio which includes a hotel in the stadium's backyard which will infuse the hotel & bed tax fund to help pay for the stadium upgrades?  This is what I mean by seeing only the bright, shiny things.  I may be wrong but I don't think a new contract has been set for the Florida-Georgia game which brings in $300-400 million for the city -- all because the number of seats will be reduced.

How do you know they won't?  Maybe he finally has some legitimate people teamed up with him his time.

[edjax]

Sorry, I'm not the baker.  I just get really frustrated every time I hear about downtown development and all the promising projects that are not and have not happened.  And such a fuss is made over anything Khan wants to do whether its best for the city or not.  I think he's shady.

Just have to laugh.

[thelakelander]

I doubt the Trio will have any impact on the bed tax being able to fund the $45 million amphitheater. These are really two projects, over a mile apart, that don't have anything to do with one another. We should view and treat them that way.

[edjax]

I doubt the Trio will have any impact on the bed tax being able to fund the $45 million amphitheater. These are really two projects, over a mile apart, that don't have anything to do with one another. We should view and treat them that way.

Good luck with that. Doesn't help when people who really know they are keep on pushing some agenda. 

[Native Girl]

The city does things to its own detriment.  Why not give the go ahead for the Trio which includes a hotel in the stadium's backyard which will infuse the hotel & bed tax fund to help pay for the stadium upgrades?  This is what I mean by seeing only the bright, shiny things.  I may be wrong but I don't think a new contract has been set for the Florida-Georgia game which brings in $300-400 million for the city -- all because the number of seats will be reduced.

How do you know they won't?  Maybe he finally has some legitimate people teamed up with him his time.

I hope they will.  What I meant though was why hasn't the city made the Trio a priority which has been in front of them for a long time and will provide close-to-immediate tax revenue (he's had the same tenants lined up this whole time) but instead they jump on the Khan wagon that could potentially jeopardize the $300-400 million sure thing they've got coming in?

[sschwartz2929]

I am a real poster and a future tenant (the Bullbriar) of the Laura Street Trio (full disclosure).

This has been a long process and for years people have been talking about this project and its potential success and failure. I believe this is the closest we have come to seeing this project come to fruition. Yes it will cost us money but that money will come back to the city and us multiple times over.

On the questions earlier about Steve Atkins and his ability to get it done:

Steve Atkins and the SouthEast Group is only as strong as the team he surrounds himself with.
Who is this "dream team"?

They have partnered with Danis Construction on the renovation and adaptive-reuse of the Laura Trio and the Barnett because they have the experience to meticulously preserve historic structures which in the past include these local projects (just to name a few):
1.   Jake M. Godbold City Hall Annex
   2.   Farah and Farah Law Offices
   3.   Jesse Ball DuPont Center
Between Danis, the lead architects and engineers, they have six local firms that are skilled in historic preservation.

The Molasky Group of Companies, a 65-year old, $2 billion company that not only finances projects, but develops projects for the US Government and Blue Cross Blue Shield, among others.

US Bank who is providing all the senior debt (well in excess of what they are asking the City to approve).

It is important to note that Steve has been vetted by his tenants and partners and we all believe in him, his abilities and the abilities of his assembled team. Also as I mentioned earlier two of the worlds largest and most prominent international brands are tenants and have vetted Steve. Marriott is one and the other wants to make their own announcement. Both are worldwide powerhouses who did their due diligence, signed leases and are ready to invest and be a part of this project.

Let's get behind the revitalization of the epicenter of our city. Make the city something people will want to spend time in. Come for business but stay because Jacksonville is a great place to visit and live. Since bed taxes help to pay for a fraction the stadium perks give people a reason to stay longer. Create a destination not just a stopover. 

I have no issue with the city of Jacksonville having the nicest stadium in the country as long as the epicenter of our city doesn't look like war torn Beirut. 

If you feel the same please sign this petition going to city hall:
https://www.change.org/p/encourage-jacksonville-city-officials-to-approve-the-additional-10-needed-to-fund-the-barnett-trio-project?tk=AIKgb2eiuO2NZ0NK7U3hen9uxSr9VQ4gQn_3R7akRz4&utm_medium=email&utm_source=signature_receipt&utm_campaign=new_signature

[edjax]

The city does things to its own detriment.  Why not give the go ahead for the Trio which includes a hotel in the stadium's backyard which will infuse the hotel & bed tax fund to help pay for the stadium upgrades?  This is what I mean by seeing only the bright, shiny things.  I may be wrong but I don't think a new contract has been set for the Florida-Georgia game which brings in $300-400 million for the city -- all because the number of seats will be reduced.

How do you know they won't?  Maybe he finally has some legitimate people teamed up with him his time.

I hope they will.  What I meant though was why hasn't the city made the Trio a priority which has been in front of them for a long time and will provide close-to-immediate tax revenue (he's had the same tenants lined up this whole time) but instead they jump on the Khan wagon that could potentially jeopardize the $300-400 million sure thing they've got coming in?

How do you know that they had legitimate financing lined up before?  Did you thoroughly vet the documents?  Hopefully they do now and it will somehow get approved.  And perhaps more willing to work with Khan as well as we kind of know he is worth billions so has the money and he is is providing his money into an asset owned by the city.