QuoteTalks still active over Laura Street Trio, Barnett Bank site.
By David Bauerlein
Developers planning to renovate the abandoned Laura Street Trio and Barnett Bank building in downtown Jacksonville continue to talk with the city about the project, but the economy has made pulling together financing a tough proposition, officials said.
The development team unveiled its plans in May at a news conference attended by Mayor John Peyton, who spoke favorably of the proposal.
Since then, the concept has won the blessing of the Downtown Development Review Board, which signs off on whether development meshes with the downtown master plan.
But the Jacksonville Economic Development Commission and the developers have not reached any agreement on what financial incentives can be offered by City Hall for the project, JEDC Executive Director Ron Barton said Wednesday.
“There is no doubt that we are in the toughest market in my 30-year career to put this type of deal together,†Barton said.
Steve Atkins, managing principal of Linea LLC of Jacksonville, said he expects the development team will be ready in December to lay out its financing strategy.
Full article: http://jacksonville.com/business/2010-11-03/story/poor-economy-has-slowed-plans-downtown-jacksonville
Shocker! Who didnt see this being delayed.
While a good project, if everything goes right and there are no delays, you're still looking at probably three years before anyone steps foot in a completed project. Throw in delays, which should be expected due to the economy, and who knows for sure?
This is was almost expeceted. Atleast they are taking their time and doing it right. Look how long 200 Riverside took to finally break ground. As long as it happens, Im good with it. Any project, even if its delayed, it still good considering the economy. After reading the entire article, I am very impressed that the developers are still pushing forward to find private funding and that the city will close the gap with money from the preservation fund.
I do agree these things do take time. With all eyes on the Laura Trio I do believe something will happen there eventually.
Quote from: jcjohnpaint on November 04, 2010, 09:48:08 AM
I do agree these things do take time. With all eyes on the Laura Trio I do believe something will happen there eventually.
Parking Garage anyone?
Dont give JEDC ideas!
Man just get it done already!! lol this bad economy business is getting on my nerves.
Quote from: Coolyfett on November 04, 2010, 10:28:06 AM
Man just get it done already!! lol this bad economy business is getting on my nerves.
Well Collyfett it is what it is man. Things just dont happen that fast anymore. We are lucky that anything is happening at all in this economic environment. FYI- I am ready to see this happen though, im not gone lie.
Lake three years does not sound so bad. I think you will see some "organic" growth in proximity to this project once people can see it is on track. The key on this one is to keep moving forward.
I believe you can have organic growth now, with or without this project, by better integrating existing downtown businesses with the street. Look for a front page article on this tomorrow.
I am also curious what is meant by the project fitting in the the City of Jacksonville's greater plan?
Nothing suprising at all.
Also, bear in mind, Hotel Duval was about a two year project when the economy was good. I have always been suprised at when they announced these plans without the financing further along than it was. The land still hasn't been purchased yet. But, knowing Capital City... Im extremely confident they know enough about their own internal numbers that this will get done.
What I did find intriguing was:
QuoteOne change since the concept was first unveiled is the redevelopment would incorporate a 5,000 square foot store for groceries. Atkins said a business, which he declined to identify, approached the developers about leasing space for the bodega-style store.
Just purely speculation, but is this Gallery Restaurant Group?
QuoteI am also curious what is meant by the project fitting in the the City of Jacksonville's greater plan?
Im assuming the adherance within the The Downtown Master Plan, specifically the emphasis on Laura Street becoming the main walkable artery within the core... its available in pdf on the COJ website.
QuoteI believe you can have organic growth now, with or without this project, by better integrating existing downtown businesses with the street. Look for a front page article on this tomorrow.
Interested to see this. There are quite a few restaurants and service related business self-contained within many downtown office buildings. Quite a bit of downtown Jax is hidden from the street level.
Quote from: fieldafm on November 04, 2010, 11:49:58 AM
Interested to see this. There are quite a few restaurants and service related business self-contained within many downtown office buildings. Quite a bit of downtown Jax is hidden from the street level.
This is a fairly large problem for the here-and-now - visibily. Didn't I see another thread that was mentioning a cafe expanding from the interior to the outer units of one of the buildings DT?
And knowing the way things are shouldn't there be a push from the landlords to entice thier existing tenants to the street level to increase exposure and entice other businesses to move in to the building?
^Drive two hours South to Orlando and the difference in the street level interaction downtown is a night and day difference.
This really isnt rocket science, just turn the inside out.
Quote from: fieldafm on November 04, 2010, 12:05:39 PM
^Drive two hours South to Orlando and the difference in the street level interaction downtown is a night and day difference.
This really isnt rocket science, just turn the inside out.
I've seen it and enjoy it on a regular basis, but are we trying to do anything about it?
Here are two examples of things open nearly every day that you can't see from the quiet sidewalk adjacent to them.
FBC's cafeteria on Laura Street. This takes up an entire block. Too bad you don't know its there.
(http://photos.metrojacksonville.com/Neighborhoods/First-Baptist-Church-DT/P1310640/785726827_3Bea2-M.jpg)
(http://photos.metrojacksonville.com/Neighborhoods/First-Baptist-Church-DT/DSC0062/785751028_SXjfF-M.jpg)
(http://photos.metrojacksonville.com/Neighborhoods/First-Baptist-Church-DT/P1310732/785728056_FQuqk-M.jpg)
Here's a convenience store in the AT&T Tower, near the Forsyth Street entrance. You can't tell its there unless you walk inside the tower because there's no signage, tinted windows and the blinds are closed.
(http://photos.metrojacksonville.com/Urban-Issues/Secret-Retail/IMG1749/1075128097_ezsye-M.jpg)
(http://photos.metrojacksonville.com/Urban-Issues/Secret-Retail/IMG1751/1075135298_tqePu-M.jpg)
You can find countless examples of this in the heart of the Northbank on just about every empty block. If we can get these places to embrace the street/sidwalk adjacent to them, the environment at pedestrian level would look completely different over night.
If I were DVI and the JEDC, I'd probably attack this issue before stressing over getting new businesses to come in. I'm about to take the skyway over with the camera and capture more examples on my way to the bank.
^ I've eaten at the cafeteria several times and will say that it's some of the best fried chicken that I've ever had. And only $5.
Let's be realistic here. Downtown Jacksonville all but missed one of the biggest construction booms in history and now we expect something to happen during one of the greatest construction busts? I hope no one is holding their breath.
Just started my walk. Just in case anyone from JTA is reading, the skyway's turnstiles are not working at the Kings Avenue Station.
But those "$kyway" figures are accurate lake! JTA says so ............right?
"If I were DVI and the JEDC, I'd probably attack this issue before stressing over getting new businesses to come in. I'm about to take the skyway over with the camera and capture more examples on my way to the bank. "
Lake: Why don't you and yours attend a DVI and a JEDC meeting and present this fabulous idea?
Kay, I mentioned it to DVI at a meeting they had with MJ before they came out with their "Turning the Corner: Rethinking and Remaking Downtown" document a few months ago. It didn't appear that they grasped the concept at the time, as they seemed to be more focused on dedicated funding and hard to achieve big ticket items. I know "working with what you already have" isn't as sexy as landing a university or Publix downtown, but its a workable short term solution to increasing foot traffic and activity downtown.
In making an effort to get the concept more understandable, I'll be running a photo oriented article on our front page tomorrow. This will give us something to fall back on, when it comes down to getting the masses to understand the concept. I was able to capture some great inside and outside images of several properties a couple of hours ago. I think several people will be quite surprised at the amount of "secret" businesses currently in operation that are adjacent to empty sidewalks.
Quote from: finehoe on November 04, 2010, 12:35:01 PM
Let's be realistic here. Downtown Jacksonville all but missed one of the biggest construction booms in history and now we expect something to happen during one of the greatest construction busts? I hope no one is holding their breath.
I believe that we are being realistic. If it was s project on the scale of the The Shipyards or The St John, yes that would not happen for a VERYYYYYYYY long time. (if ever) However, the project is small scale and fesiable. They are just restoring historic building sthat are already in place. Look at 200 Riverside, it was a two year delay and they have finally broke ground. In this enivronment if the project is realstic and fesiable, it can happen. Just may take a little longer.
$70mm is pretty big, but if they can break it into several phases, then it might start sooner rather than later.
Quote from: vicupstate on November 04, 2010, 05:22:16 PM
$70mm is pretty big, but if they can break it into several phases, then it might start sooner rather than later.
Oh yeah Im sure they will. There's no way that can happen all at once.