Downtown Development Update: What's rising, what's delayed

[Captain Zissou]

The One Riverside restaurant isn't located near the creek. I can't imagine it being held up by creek construction.

The restaurant may be getting a redesign.  I heard that they designed the space without consulting a restaurateur and that it's pretty unusable from a service perspective. 

[Tacachale]

The creek and section relying on that work — the retail — is what's delayed. That was connected to a permitting issue with FDOT, which has obviously been resolved as the work has been progressing. There's no delay on the rest of it including the residential as that didn't rely on moving the creek.

[urban_]

Will TheJaxsonMag post another downtown/urban development/construction update anytime soon? I would love to see another, it's such a great concise way to see progress downtown.

[thelakelander]

Yes! We're long overdue. Plan to get one up before the end of the month.

[urban_]

Yes! We're long overdue. Plan to get one up before the end of the month.

Wooo! Great!

[Ken_FSU]

^I noticed last week that Jersey Mike's is opening up shop in Brooklyn.

Next to Vale.

[Ken_FSU]

Jacksonville Coffee Company (which has a few locations scattered around Jax) is apparently opening near Bay & Main in the next month or two.

-

Per the T-U, the DIA really wants to put their muscle into Laura Street, which is awesome.

Sounds like Snyder Memorial will be getting around $4 million in investment (a FANTASTIC idea).

Sounds like the DIA is going to take responsibility for funding a good portion ($12 million) of any completion grant Gateway Jax would need to make their tower on the Landing private development pad work (also fantastic, given the current state of the general fund, and the pushback that vital project would probably get if those dollars were coming out of the city budget).

The one thing I was bummed to hear was that the $1 million set aside for the riverfront restaurant at Riverfront Plaza was moved into Snyder, and that project is on the back burner as the result of pushback from the Council about building and operating the restaurant. Not the end of the world if the Gateway Jax project happens, but really believe that you need as much activation as possible within the park to make it a draw, and the restaurant would have been a big piece of making the park a vibrant and safe space after dark.

Bill, any idea if the same pause in plans applies to the proposed Friendship Fountain restaurant as well?

--

Anyone know what's going on with the Related project on the Southbank? I believe I heard that, if it happens, the completion grant would be paid s they go in chunks, versus as a lump sum at the end. Felt like a very different request than we typically see.

[acme54321]

Anyone know what's going on with the Related project on the Southbank? I believe I heard that, if it happens, the completion grant would be paid s they go in chunks, versus as a lump sum at the end. Felt like a very different request than we typically see.

The agrement said that they had to be done with final design by 5/30/25.  I think the expectation was a start in 26.  I think the bulkhead work has wrapped up and that had to be completed first.

[Ken_FSU]

Anyone know what's going on with the Related project on the Southbank? I believe I heard that, if it happens, the completion grant would be paid s they go in chunks, versus as a lump sum at the end. Felt like a very different request than we typically see.

The agrement said that they had to be done with final design by 5/30/25.  I think the expectation was a start in 26.  I think the bulkhead work has wrapped up and that had to be completed first.

Thanks for the info!

[heights unknown]

Not looking too good for the park kinda stupid not to allow the loan and work with the developer because no one lenders banks are going to fund any developer in Jacksonville or other cities like Tampa. there're also having problems with getting materials and financing. Noco area jones project and a few others are struggling a bit too. If we dont help out with lions even though the are financial capable the still need loans and they leave then we are back to the drawing board with bids for that pad and phase two doesn't happen because it also would have to be redone. So a park that may sit for 5 to 7 more years. Deegan wants to fund more for downtown especially green parks but doesn't want to pay for a good chunk of that money for parks like plaza and shipyards. since shipyards and maybe plaza they said that the parks wont be fully covered with stuff for people to do like pickleball and stuff so alot of things not to be fully built out and water it down. Deegan said she wants more parks and infrastructure to help lower costs of future incentive packages but if you are not funding plaza then that would contradict her words of funding parks to help deals later on. So it is better to work with them and get this done asap instead of collapsing this whole project and loan that was part of that deal otherwise we would look again like jackasses to they rest of developers eyes where they may not want to develop downtown seeing that we can't fund projects.

Jackassville?

[Tacachale]

Jacksonville Coffee Company (which has a few locations scattered around Jax) is apparently opening near Bay & Main in the next month or two.

-

Per the T-U, the DIA really wants to put their muscle into Laura Street, which is awesome.

Sounds like Snyder Memorial will be getting around $4 million in investment (a FANTASTIC idea).

Sounds like the DIA is going to take responsibility for funding a good portion ($12 million) of any completion grant Gateway Jax would need to make their tower on the Landing private development pad work (also fantastic, given the current state of the general fund, and the pushback that vital project would probably get if those dollars were coming out of the city budget).

The one thing I was bummed to hear was that the $1 million set aside for the riverfront restaurant at Riverfront Plaza was moved into Snyder, and that project is on the back burner as the result of pushback from the Council about building and operating the restaurant. Not the end of the world if the Gateway Jax project happens, but really believe that you need as much activation as possible within the park to make it a draw, and the restaurant would have been a big piece of making the park a vibrant and safe space after dark.

Bill, any idea if the same pause in plans applies to the proposed Friendship Fountain restaurant as well?

--

Anyone know what's going on with the Related project on the Southbank? I believe I heard that, if it happens, the completion grant would be paid s they go in chunks, versus as a lump sum at the end. Felt like a very different request than we typically see.

Southbank still ago. It won't be affected by what's happening with the Landing, which is down to all the moving parts in that deal. Hopefully, the land swap gets through Council and the Landing restaurant can get moving again before too long. If Council decides to do a purchase instead of a land swap, it'll delay things more (and require us to spend millions from the reserves), but either way the hope is to get back to it as soon as feasible.

[Ken_FSU]

Jacksonville Coffee Company (which has a few locations scattered around Jax) is apparently opening near Bay & Main in the next month or two.

-

Per the T-U, the DIA really wants to put their muscle into Laura Street, which is awesome.

Sounds like Snyder Memorial will be getting around $4 million in investment (a FANTASTIC idea).

Sounds like the DIA is going to take responsibility for funding a good portion ($12 million) of any completion grant Gateway Jax would need to make their tower on the Landing private development pad work (also fantastic, given the current state of the general fund, and the pushback that vital project would probably get if those dollars were coming out of the city budget).

The one thing I was bummed to hear was that the $1 million set aside for the riverfront restaurant at Riverfront Plaza was moved into Snyder, and that project is on the back burner as the result of pushback from the Council about building and operating the restaurant. Not the end of the world if the Gateway Jax project happens, but really believe that you need as much activation as possible within the park to make it a draw, and the restaurant would have been a big piece of making the park a vibrant and safe space after dark.

Bill, any idea if the same pause in plans applies to the proposed Friendship Fountain restaurant as well?

--

Anyone know what's going on with the Related project on the Southbank? I believe I heard that, if it happens, the completion grant would be paid s they go in chunks, versus as a lump sum at the end. Felt like a very different request than we typically see.

Southbank still ago. It won't be affected by what's happening with the Landing, which is down to all the moving parts in that deal. Hopefully, the land swap gets through Council and the Landing restaurant can get moving again before too long. If Council decides to do a purchase instead of a land swap, it'll delay things more (and require us to spend millions from the reserves), but either way the hope is to get back to it as soon as feasible.

Great to hear, thanks Bill!

I am praying that this land swap goes through.

I love the recent land disposition for the Cathedral District affordable housing project, and executing a swap for Riverfront Plaza at $0 expense to the general fund over the next 2-3 years feels like an absolute no-brainer.

On Salem's side, you've got:

1. Paying $6 million out of our cash-strapped general fund to try to force downtown's best private partner out of a property they purchased fair and square (ironically, this is the exact same thing we did to Toney Sleiman, and look how well that one turned out).
2. Saying no to a proven, willing developer with a stake in the game, while kicking the can on private development at Riverfront Plaza years down the road, after the first RFP failed to bear any realistic fruit
3. Causing needless, potentially risky delays to UF's plans to launch a graduate campus, during a time of much economic uncertainty.

On the DIA/Gateway/Mayor's side, you've got:

1. A plan to activate both UF and Riverfront Plaza simultaneously, with $0 short-term hit to the general fund.
2. The ability to hit play NOW on UF, versus waiting to see what happens with government funding and the economy.
3. A reputable developer with a fantastic track record and projects underway elsewhere downtown, eager and ready to tackle private development at the Landing, and willing to give the private development pad back at cost if they don't turn dirt in a reasonable amount of time.
4. A hard cap on cash incentives ($20 million, which is significantly lower than the American Lions project that fell apart).
5. An identified funding source for the majority of the incentives (at least $12 million from the DIA).
6. A built-in source of revenue for upkeep, programming, and improvements at the park by way of fees assessed at the private development (I haven't once heard Ron Salem mention how much it's going to cost to publicly maintain the park vs. baking in fees for hotel guests and/or residential tenants).

Could think of nothing more arrogant and foolish than deciding that the best course of action is stealing $6 million from the general fund to tell downtown's premier development partner "Naw, we got this, but we'll take your property," versus paying $0 to give them a risk-free shot and jump start courses at UF.

Salem should be chased out of town if he gets his way with this one. It's putting his own political interests ahead of the city's.

[thelakelander]

Where does the talk of a second land swap for John Rood and Vestcor fit into all of this? Whatever direction is taken with Gateway should also set the precedence for the Vestcor parcel behind the terminal.

[jaxlongtimer]

My main issue with the land swap is I don't think any such buildings should be built on the Landing land.  It should all be public greenspace with amenities appropriate for it.  Putting up incentives for Gateway to build on it is salt in the wound for me.

[marcuscnelson]

My main issue with the land swap is I don't think any such buildings should be built on the Landing land.  It should all be public greenspace with amenities appropriate for it.  Putting up incentives for Gateway to build on it is salt in the wound for me.

With all due respect, that ship appears to have sailed some time ago. The park's design (especially factoring the need to raise the ground up to meet the bridge level, and the amenities planned for that side of the park) is built around including the mixed use element, and the expectation of buildings on the north side has been in the cards since the beginning with Curry's drawing. Throwing everything out to come up with a new design (and still needing to address the JEA line anyway) at full cost to taxpayers doesn't really seem worth the benefit of the possible slight addition of extra space next to the bridge. It's not like the Gateway proposal is completely devoid of green space either:

Where does the talk of a second land swap for John Rood and Vestcor fit into all of this? Whatever direction is taken with Gateway should also set the precedence for the Vestcor parcel behind the terminal.

It doesn't strike me as ideal to be spending tons of money on just land as opposed to that money going to actually incentivize construction instead of land banking.