Tallest Tower Between ATL & MIA In Jax?

[I-10east]

Good to see you, I-10! Feels like it's been a minute.

Thanks Ken. I'll chime in every once in a while

[marcuscnelson]

The developer behind this idea profiled in the Daily Record today.

https://www.jaxdailyrecord.com/news/2024/oct/25/american-dreamer-why-developer-david-ergisi-keeps-aiming-higher/

Still sounds pretty outlandish, although I found this part interesting:

Also adding complexity to the project, Ergisi plans to fund it partly through the federal EB-5 program, which allows foreign investors who fund development projects in the U.S. to move to the front of the line for green cards.

Ergisi also drew EB-5 funding for the Fountains project. The funding source is more common in larger cities.

"It's a very complicated process, but when properly done it yields amazing projects," he said.

"These investors ultimately want to come to this country, and frankly they're the people that we want, because they're coming here with capital and to support our economy, not drain it."

Developers and communities also benefit, he said.

"It brings capital into the local market here, especially in a time like today where capital markets are really tight," he said.

[Steve]

The developer behind this idea profiled in the Daily Record today.

https://www.jaxdailyrecord.com/news/2024/oct/25/american-dreamer-why-developer-david-ergisi-keeps-aiming-higher/

Still sounds pretty outlandish, although I found this part interesting:

Also adding complexity to the project, Ergisi plans to fund it partly through the federal EB-5 program, which allows foreign investors who fund development projects in the U.S. to move to the front of the line for green cards.

Ergisi also drew EB-5 funding for the Fountains project. The funding source is more common in larger cities.

"It's a very complicated process, but when properly done it yields amazing projects," he said.

"These investors ultimately want to come to this country, and frankly they're the people that we want, because they're coming here with capital and to support our economy, not drain it."

Developers and communities also benefit, he said.

"It brings capital into the local market here, especially in a time like today where capital markets are really tight," he said.

Huh. I have some philosophical questions about that program; haven't heard of this before that aren't really for this thread. That said, if this actually comes to fruition - which I have my doubts - I do think it would benefit downtown.

[CityLife]

That is a wild article/puff piece. This guy might be crazy enough and have a big enough ego to actually get something audacious done. The EB-5 program does provide some developers without funding to pull off projects they wouldn't otherwise be able to. There is also a glitch with it (that is borderline illegal) that some developers use to make even more profit off of.

That said, this guy is still very green as a developer and a project like this is a huge step up in complexity. I'd be shocked if this happens.

[Jax_Developer]

EB-5 in Jacksonville... to build a high-rise... yeah okay lol.

[thelakelander]

^Yes, its hard for me to take that proposal seriously. At this point, it's not even worth spending media coverage on it. Just getting people's hopes up for a big letdown, with where things stand at this time.