Downtown Construction Update: November 2007
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The Shipyards, The St. John and East San Marco are all on hold, but a number of downtown projects, both residential and commercial, are continuing to move forward.
Full Article
http://www.metrojacksonville.com/content/view/635
FINALLY! Something positive for once. Just because the Shipyards, East San Marco, and The St. John projects were put on hold doesn't mean that they are dead and gone. So stay positive (I hope we all will be). The residential market will rise again soon. 8)
Great update. Berkman is moving pretty quick. Also, its good to see some dirt finally being turned at the Brooklyn Park and Kings Avenue Station sites.
It is very exciting to see progress on Kings Ave and Brooklyn Park! East San Marco project has already made a little headway, with the new Wachovia being close to completed already. With that kind of capital already invested in the project, i'm sure we'll see something good come out of it.
What is going on at Churchwell? is the whole poject for sale?
http://listing.loopnet.com/15374526 (http://listing.loopnet.com/15374526)
At 40,000 square feet, that's just the ground-floor retail space (maybe ground floor and a mezzanine?) not the whole building.
Mixed-use condos - where some of the condos are residential, and some of the condos are commercial - are a little more legally complicated when setting up the condo association. But it's not that uncommon.
Another question about Churchwell - what exactly are they building on the roof? Cabanas? I have been curious for a while now.
^ Residential Penthouses, I think.
Yes, those appear to be penthouses.
Here's the website with the floor plans:
http://prpproperties.com/index.html
The Bellsouth Tower is no more, its now AT&T Tower. The new signage is up and lit up as I type. I can clearly see it from NAS JAX, looks like a little white dot.
Looks like 20 West is coming along well too.. Seems like they've gotten more new windows installed, or at least I noticed some changes while standing outside at The Carling. A guy in a red shirt came by and took pictures of the building and walked on... Was it one of you?
I cant wait until they finish 20 West.. I wish the original plans of having a Loop in the first floor would have happened.
Berkman II garage pre-collapse.
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I thought the St. John was a go; it is listed in all scraper forums, and the last I read was that it was approved, not proposed. Any way, I'm proud to see these other projects "pressing on." Are we talking about the St. Johns projects that was comprised of about five skyscrapers, or the "St. John" next to the Prudential complex?
Heights
The St. John, next to Aetna, is approved but delayed until the market improves. The 70 story St. James is dead. The five tower project on the Southbank is DOA as well.
What a shame.
I really want to see these built out. I think if Jacksonville wants to make these un-dead the city could.
It has more to do with the housing market than Jax. Projects are being canceled in most cities across the US.
I hear ya...only the market has been hit really hard in Florida as the rest of the cities across the US are just slowing down--the bottom feel out in FL. Glad I got out when I did...rather...the firm "helped" me out. I don't think either of the homes I've sold in Florida have turned as they were both bought by speculators.
Three home in my area that have been on sale for quite some time have all sold to out of towners moving to St. Augustine. One couple I spoke with said they were waiting for the market to busrt so the prices would be more reasonable. IMO, things should be picking back up before too long as more and more find out that the market has bottomed out and will be on the upswing soon. There are still gobs of people wanting to move to Florida and cheaper home prices will be the bait to draw them in.
The market has been bad in other places as well. Even up here, people are complaining about getting laid off and the number of foreclosures going up because of adjustable rate mortgages. Major projects are being canceled in Chicago, Miami, Las Vegas and California. Everything runs in cycles and right now we're on the low end.