Mayor Curry wants the Landing back

[jaxlore]

Can't say I saw this coming.

http://jacksonville.com/news/metro/2017-06-21/mayor-lenny-curry-wants-jacksonville-landing-under-city-ownership

Mayor Lenny Curry on Wednesday accused the owners of the struggling Jacksonville Landing of mismanaging the downtown shopping plaza and said he's working to take control of the site.

Curry said his vision for redeveloping the Landing begins with Sleiman Enterprises giving up ownership of the buildings, which sits on 7 acres of prime, waterfront real-estate that it leases from the city.

Curry offered few specific details of his conversations with Sleiman Enterprises, which he described as ongoing negotiations. He said he's made "soft offers" to buy the buildings, but the owners have "drawn a line in the sand." He said city officials are also exploring the possibility that Sleiman Enterprises defaulted on a provision in its lease requiring the mall to have a certain number of retail businesses.

"We've got a plan internally to put the screws and keep pushing this," Curry said during a meeting with the Times-Union editorial board. "The city ought to have that property now and be working a plan to find the best and highest use for it, maybe with a private entity, maybe not."

[Captain Zissou]

I like it.  Sleiman has been holding the Landing hostage without much recourse from the city.  Glad the city realized this and is trying to light a fire under him one way or another.

[FlaBoy]

I love it. Sleiman should not hold the city or one of our most recognizable landmarks hostage to mediocrity. If he doesn't want to upgrade it, then sell it back to the city. We are not giving him a windfall of taxpayer dollars to knock it down. Mayor Curry has been doing an amazing job recently trying to actually get things going downtown instead of the normal gridlock on anything important.

[thelakelander]

Hmm. It's obvious COJ isn't going to work with Sleiman. I believe it would be best for them to sell Sleiman the land underneath the buildings and let him finance his own redevelopment, or he should sell the buildings to the city.  However, either way, it should be down at a market rate level, as opposed to lowballing the other party. My only concern is COJ getting in the real estate development business instead of letting the market play itself out. Whatever we think about Sleiman, he's been pretty successful with his retail developments. On the other hand, COJ has a pretty bad track record at redevelopment over the last few decades.

[billy]

What are the current lease terms? How much time is left?

[FlaBoy]

Hmm. It's obvious COJ isn't going to work with Sleiman. I believe it would be best for them to sell Sleiman the land underneath the buildings and let him finance his own redevelopment, or he should sell the buildings to the city.  However, either way, it should be down at a market rate level, as opposed to lowballing the other party. My only concern is COJ getting in the real estate development business instead of letting the market play itself out. Whatever we think about Sleiman, he's been pretty successful with his retail developments. On the other hand, COJ has a pretty bad track record at redevelopment over the last few decades.

My take on this is that the Mayor does not think Sleiman has been a good faith partner in this in whatever behind the scenes stuff has occurred. I imagine the city buying all this back and wanting to lease it out to a private third party company/organization with more favorable terms.

[vicupstate]

On the other hand, COJ has a pretty bad track record at redevelopment over the last few decades.

Yeah, JAX follows what I call the 'Hindenburg Model' of redevelopment. Of course, there have been a few successes like that Seafood restaurant in LaVilla that people drive for miles to eat at.

Curry is grabbing a tar baby with both hands. I hope he realizes forcing a deep pocketed businessman to do something he has no inclination to do, is not as easy as bossing around a party hack's minions.   

[KenFSU]

What are the current lease terms? How much time is left?

Through 2061.

[Tacachale]

Well one thing's for sure, it'll be interesting to see how this works out.

[KenFSU]

Also, for better or worse, we should have sold Sleiman the land underneath the Landing back in 2003 when he first offered to buy it and renovate the Landing ahead of the Jax Super Bowl. I strongly favor selling the land to Sleiman rather than taking taxpayer money away from other projects to buy the Landing from Sleiman. I also don't trust the city to manage or develop the Landing, when they couldn't even handle a restaurant.

[Keith-N-Jax]

Only problem is with COJ doesn't have a good track record with just with anything except demolishing structures. How ever it plays out its time to get this water front property finished. 

[thelakelander]

Just saw the FTU's article. Let me ask everyone a question.  What's the negative in this happening?

If he can't reach a deal with the city, Sleiman says he'll simply remodel the Landing and "run it like a shopping center."

[MusicMan]

"Yeah, JAX follows what I call the 'Hindenburg Model' of redevelopment. Of course, there have been a few successes like that Seafood restaurant in LaVilla that people drive for miles to eat at.

Curry is grabbing a tar baby with both hands. I hope he realizes forcing a deep pocketed businessman to do something he has no inclination to do, is not as easy as bossing around a party hack's minions."

Hysterical, and so true!     

I see a gloomy future for "The Jacksonville Landing" under this scenario.

[KenFSU]

Just saw the FTU's article. Let me ask everyone a question.  What's the negative in this happening?

If he can't reach a deal with the city, Sleiman says he'll simply remodel the Landing and "run it like a shopping center."

I chuckled at this quote when I read the article the first time.

I hope he follows through on his threat.

[RattlerGator]

I don't think this city has ever had -- ever -- an administration so able and so locked in with bigtime state and federal political leadership *and* bigtime corporate support. That's a damn good combination other locales have used to tremendous benefit.

I say put the screws on his azz.