Jackson Square Controversy Brewing

[thelakelander]

With a little luck this could be completed before Publix breaks ground!

Well it's definitely less complex and complicated and it's still "mixed-use" in a suburban oriented type of way.  Comparing the two Jackson Square site plans, it's now phased and a fraction of the square footage and units.  There's also no more structured parking.  It's essentially what you see popping up near SJTC, East Baymeadows and Gate Parkway.

Original:




Revised:



To be honest, the site plan isn't that bad, considering the proposed product.  While some slight modifications could make it more pedestrian friendly, building placement is decent and most of the surface parking is hidden from the street. 

Nevertheless, given the site's location and access to the new I-95 interchange, they should shoot for a grocery, big box or retail outparcels along Philips.  With I-95's new ponds, this site is pretty visible from the interstate now.  Sites this size that are adjacent to an interstate interchange are hard to come across in the urban core.

[ProjectMaximus]

Sweet, more good things. Unlike 10 years ago, if 25% of it all actually happens then we'll be good to go.

[KenFSU]

http://jacksonville.com/business/real-estate/2017-05-30/big-plans-property-north-end-philips

[thelakelander]

For a garden apartment complex it looks fine to me.  Give that section of Philips and Kings Avenue a few years to settle after the construction of the Overland Bridge project is complete.  It will be just as popular as Brooklyn has become for infill development in recent years.

[thelakelander]

640 units?  That's more than 220 Riverside and Brooklyn Riverside have combined.  Nice.

A $42 million residential and retail development designed for up to 640 apartments is moving forward east of San Marco.
The Jacksonville Planning Commission on Thursday approved a minor modification to the original site plans.

Chance Partners LLC plans to turn 17 acres, starting at 2600 Philips Highway between River Oaks Road and Mitchell Avenue, into a mixed-use development of apartments and retail space.

"We like to build projects that are walkable and this promotes that," said principal Jeff Rosen.

Rosen said the mixed-use development also will create "more of a neighborhood feel in that area, which we think needs some attention."

Full article: http://www.jaxdailyrecord.com/showstory.php?Story_id=549994

[Jim]

640?   That sounds a lot closer in scope to the original plans than the revised ones provided in early May.

[MusicMan]

Phase One is 286 apartments. More to be added with Phase Two.

Combine this with the Florida Baptist site on Hendricks and that is well over 500 new apartments. How does this impact the proposed Publix project on Atlantic?

[thelakelander]

They have no impact on Publix and East San Marco.  There was a market for Publix back in 2006.  East San Marco's issue is one of financing for a building type featuring multiple floors of structured parking and residential on top of retail.  Within whatever proforma they're using, it appears that their pre-bust mid-2000s land acquisition costs also play a significant role in why that project is delayed.

[river4340]

Phase One is 286 apartments. More to be added with Phase Two.

Combine this with the Florida Baptist site on Hendricks and that is well over 500 new apartments. How does this impact the proposed Publix project on Atlantic?

Not to mention the Broadstone River House under construction on the river, the 13 story tower by Aetna, the apartments planned off Hendricks just north of I-95, the District ....

[thelakelander]

There's already a market for Publix, so more residential units isn't going to make Publix open at East San Marco any faster.

[Jim]

What chance does the constant delays to East San Marco prompt another grocer to move forward into the Southbank/San Marco area?

[MusicMan]

The guys developing East San Marco are already behind schedule. My opinion is, if over 1000 new apartments begin construction before they even sell the damn real estate it will be put off into an unforeseeable date in the future. So I see a potentially fatal impact on that development. And perhaps Publix looking elsewhere.

[ProjectMaximus]

Yeah, all these new rentals coming online can't possibly be helping East San Marco's pro forma. Maybe they will switch back to condos?

[FlaBoy]

I really don't think it has an impact on East San Marco. In some ways, I think it shows a strong market for them to move forward in. Their property is a prime time location. It is all about their ability to turn a profit that is made difficult due to the land acquisition costs of 2005-06. The demand to live on that property is already there.

[MusicMan]

Condos today would move fast, In 2 years I don't know.