City will seek Proposals for Shipyards + Met Park Combined Development

[KenFSU]

Interesting that talk from Lamping has turned from a high-end hotel at Metro Park to high-end mixed hotel/residential. 

[Keith-N-Jax]

^^ Probably for the best, I just hope we get this thing rolling.

[vicupstate]

^Not technically true.

Once terms are agreed upon and the land swap gets a green light, work could begin in Met Park almost immediately. There's no requirement in these cases that the new greenspace be move-in ready, or even remediated, prior to the closure and development of the existing Met Park.

So the Feds have said they will allow the park to be developed BEFORE work on the replacement will begin?  I could have missed it, but I don't remember seeing that.

If indeed true, the  Feds might want to get some background from Tony Sleiman on how the 'promised'  Landing parking lot deal went.   

[vicupstate]

Even if vicupstate *was* technically accurate, vicupstate would still be wrong. Clearly wrong.

Even if he had to wait until the remediation was completed, another developer would not have the kind of skin in the game that Shad has and, very likely, wouldn't have the same resources either.

This Shipyards / Shad Khan thing isn't a close call, no matter how much some continue to cast aspersions. It's a no-brainer.

The fact that one of the other bidders, which does have development experience, is promising to build/invest TWICE as much as Khan, and is paying $200 mm up front to the city, is not even a consideration?

Khan has a VERY vested interest in the Stadium, but that hasn't keep him from getting huge sweetheart deals from the city. Mark my words, the risk is going to be socialized and the profit privatized on this deal.

 

[RattlerGator]

Promises, promises, promises Vic. That and a sycophantic news media gets you President Hillary Clinton -- feel me?

As for the feds *trying* to insist on remediation *before* anything happens, I refer you back to that national election for President in November.

Not hap'nin. Deconstruction of the federal administrative state is well underway. Power back to the states is well underway.

[Captain Zissou]

Even if vicupstate *was* technically accurate, vicupstate would still be wrong. Clearly wrong.

Even if he had to wait until the remediation was completed, another developer would not have the kind of skin in the game that Shad has and, very likely, wouldn't have the same resources either.

This Shipyards / Shad Khan thing isn't a close call, no matter how much some continue to cast aspersions. It's a no-brainer.

It's a no-brainer for you because you're incapable of seeing past Khan.  I agree that if the city did its part first and then re-issued the RFP it would likely draw more developers and would get a higher sales price.  There are a lot of moving parts in this deal and in a market like Jacksonville that can give a lot of developers some concern.  Also, having skin in the game doesn't necessarily make you a more competent developer.

[vicupstate]

Promises, promises, promises Vic. That and a sycophantic news media gets you President Hillary Clinton -- feel me?

As for the feds *trying* to insist on remediation *before* anything happens, I refer you back to that national election for President in November.

Not hap'nin. Deconstruction of the federal administrative state is well underway. Power back to the states is well underway.

Shame on Jacksonville if they surrender Met Park with no binding plan to replace it in short order. If that does indeed happen, it means the public land has been privatized for Khan's benefit. Sounds like a lawyer's dream case to me. 

[MusicMan]

Food for thought.

1. Shad Khan does not live in Jacksonville. He 'lives' in Naples. Wouldn't it be nice if he actually had a home here?

2. Would absolutely would have drawn more interest if the remediation was complete.

3. City of Jacksonville is completely clueless when it comes to their real estate holdings. They should have hired a real firm with international
     standing to properly market this piece of real estate. Going local with a 30 day RFP is a joke. 90 days minimum but 6 months would have
     been even better.

4. Will still be years before anything viable appears on this parcel because of the COJ poor stewardship of it.

[KenFSU]

Per the Daily Record, Phase 1 of Khan's Plan:

Development would start at the area that is now Metro Park:

• 50-100 multi family rental and or residential units

• 200-250 room five-star hotel with restaurant

• Structured parking and amenities

• 75,000 square feet of office space, restaurant and retail

• Public Infrastructure and associated public space

• Relocation of Metro Park further west.

[MEGATRON]

Shame on Jacksonville if they surrender Met Park with no binding plan to replace it in short order. If that does indeed happen, it means the public land has been privatized for Khan's benefit. Sounds like a lawyer's dream case to me.

The Ordinance Code requires no net loss in property owned by the Parks Department.

[MEGATRON]

Food for thought.

1. Shad Khan does not live in Jacksonville. He 'lives' in Naples. Wouldn't it be nice if he actually had a home here?

2. Would absolutely would have drawn more interest if the remediation was complete.

3. City of Jacksonville is completely clueless when it comes to their real estate holdings. They should have hired a real firm with international
     standing to properly market this piece of real estate. Going local with a 30 day RFP is a joke. 90 days minimum but 6 months would have
     been even better.

4. Will still be years before anything viable appears on this parcel because of the COJ poor stewardship of it.

1.  So, Khan has hundreds of millions invested in Jacksonville, but should be impugned because he does not live here?  Meanwhile, you are advocating a more global marketing approach fro the property.  Which one is it?

2.  A creative developer may be able to receive significant reimbursement of remediation costs for development of this site under the state's brownfield program.   Remediating the property without any sort of site plan in place would make no sense strategically or economically.

3.  Not sure that would have mattered or would have been beneficial to the area.

4.  How exactly has COJ been a poor steward of this property?

[MusicMan]

1. Just noting he doesn't live here. How many NFL franchise owners don't live within 300 miles of their teams stadium?

2 + 3 =  Statistics show that properties considered "shovel ready" sell faster and at a higher price than those needing serious remediation.
              You can ignore that all you want, it won't alter the facts. The need for remediation only benefits the Buyer in this situ, not the Seller.

4. How long has it been vacant 'aka' in it's current state?  A damn long time. COJ has done nothing except cut the grass. And now they are
    practically giving it away. I guess in their opinion it's a worthless POS. That's how they've treated it.  $90 million on scoreboards, zero on
    this parcel..................

 

[MEGATRON]

First, the city Holds title because it foreclosed on the property. Under CERCLA, it maintains a secured creditor exemption from CERCLA liability provided that it meets certain criteria. Once the City begins dabbling in assessment and remediation, it runs the risk of nullifying that exemption.

In addition, the scope of the remediation depends completely upon the future use of the property. The City could spend $30M on cleanup when only $10M was necessary based on the proposed redevelopment.

Of course shovel ready projects sell for a higher price - you've put money into the project already. Great stat!

[RattlerGator]

All these urban core experts. SMDH. Yeah, I'm blind. Look in the mirror, please.

One has to work extremely hard, from a very biased position, to not see the tremendous plus this is for Jacksonville. To not see how incredibly fortunate we are the St. Louis Rams *weren't* sold to Shad and, as a result, he kinda-sorta fell in our lap. Without that occurrence, it's very likely all of you urban core Jacksonville experts in the bitch-and-moan brigade would be pontificating -- with your presumably massive bankroll sitting on the sidelines -- about the only thing needed for that property to take off is X, Y, and Z. And, of course, dismissing actual skin in the game as some sort of theoretical positive.

And the presumption that no knowledgeable city officials are involved in the negotiations about to take place? Damn. Wasn't there damn near universal praise of Mousa rejoining city government almost two years ago? Now he's an idiot ? ? ?

[Rynjny]

All these urban core experts. SMDH. Yeah, I'm blind. Look in the mirror, please.

One has to work extremely hard, from a very biased position, to not see the tremendous plus this is for Jacksonville. To not see how incredibly fortunate we are the St. Louis Rams *weren't* sold to Shad and, as a result, he kinda-sorta fell in our lap. Without that occurrence, it's very likely all of you urban core Jacksonville experts in the bitch-and-moan brigade would be pontificating -- with your presumably massive bankroll sitting on the sidelines -- about the only thing needed for that property to take off is X, Y, and Z. And, of course, dismissing actual skin in the game as some sort of theoretical positive.

And the presumption that no knowledgeable city officials are involved in the negotiations about to take place? Damn. Wasn't there damn near universal praise of Mousa rejoining city government almost two years ago? Now he's an idiot ? ? ?

+1000000000