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This was reported in the Florida Times-Union yesterday:
Quote
Hotel, restaurants, bank planned for historic Laura Street Trio downtown
Posted: August 17, 2013 - 11:38pm | Updated: August 18, 2013 - 6:52am
By Roger Bull
The Laura Street Trio, three historic and vacant buildings at the heart of downtown, will become a complex featuring a Courtyard by Marriott hotel, two restaurants, a commercial bank and a rooftop bar, its owner told the Times-Union exclusively.
The entire project, which will include adding another building and a parking garage, will cost about $40 million, said Steve Atkins, who heads Southeast Development Group that purchased the three buildings, along with Barnett Bank, in March for $3 million.
The money was borrowed from Stache Investments Corp., which is headed by Jaguars owner Shad Khan. But Khan is not involved in the redevelopment of it, Atkins said.
...
Read more at Jacksonville.com: http://jacksonville.com/business/real-estate/2013-08-17/story/hotel-restaurants-bank-planned-historic-laura-street-trio#ixzz2cQKa5eQ1
It's basically the plan Atkins's group has discussed before, with a few differences; most significantly, Shad Khan's Stache Investments is providing the financing.
I hope this works out. What happens if the $9million goes away?
What a wonderful concept and a great start to a new downtown for Jacksonville. I hope this spurs other development which is innovative.
Would love to be privy to the notion that there might be a quid-pro-quot between this loan from Stache and the stadium renovation tax dollars. I wouldn't "necessarily" have a problem with it but it'd be interesting to know how much mutual back scratching went on.
Very good news. I don't remember in my time here in Jacksonville a hotel that deep into downtown. There is a building next to it that was going to house the Loop that I am sure would be developed now that a hotel is next to it. Very exciting. Lets hope the city gives them the incentives they want.
So..does this mean public money will be handed over to create a place the citizens of jax cant afford?..to pay high salaries to the ceo to manage?
Hopefully Council will look at this and the other DT projects that want part of the $9 million for the net benefit they will provide to DT and the city as a whole, and not let politics get in the way.
1. I seem to recall that the Atkins Group was one of the bidders 10 years ago or so that wanted to demolish the Haydon Burns Library and replace it with a faux-St. Augustine mixed-use project.
2. Does downtown need yet another parking garage?
3. Is a Marriott Courtyard really a boutique hotel? Do Courtyards offer a unique personalized experience?
4. Are these buildings referred to as a trio because they are three orphans surrounded by the not-much that remains? (I believe so.) Not exactly a positive statement.
Quote from: johnny_simpatico on August 19, 2013, 10:54:15 AM
1. I seem to recall that the Atkins Group was one of the bidders 10 years ago or so that wanted to demolish the Haydon Burns Library and replace it with a faux-St. Augustine mixed-use project.
2. Does downtown need yet another parking garage?
3. Is a Marriott Courtyard really a boutique hotel? Do Courtyards offer a unique personalized experience?
4. Are these buildings referred to as a trio because they are three orphans surrounded by the not-much that remains? (I believe so.) Not exactly a positive statement.
1. Yes, Atkins submitted a proposal for the Haydon Burns site.
2.These buildings will sit empty without dedicated parking.
3. Yes, it can be. I've stayed in quite a few across the US.
4. They're referred as the Trio because they were occupied by the same bank for many years.
This is EXCELLENT news!!
30 months of construction!? These buildings really are in bad shape.
Quote from: johnny_simpatico on August 19, 2013, 10:54:15 AM
1. I seem to recall that the Atkins Group was one of the bidders 10 years ago or so that wanted to demolish the Haydon Burns Library and replace it with a faux-St. Augustine mixed-use project.
Yes, Atkins was one of the bidders for the Haydon Burns Library to replace it with a new mixed-use development. He's also been pushing for this Laura Street Trio project for over four years, and now owns the properties.
Quote from: johnny_simpatico on August 19, 2013, 10:54:15 AM
2. Does downtown need yet another parking garage?
What Lake said, but it's been especially tricky because the Barnett Bank tower across the street (which is part of the Laura Trio package) also has no dedicated parking, nor a real place to put one without demolishing something. In the 1980s Barnett actually demolished the old Heard National Bank Building for parking, but this was later replaced by the BOA Tower. Presumably this parking garage will serve both the Trio and the Barnett, as previous proposals have suggested.
Quote from: johnny_simpatico on August 19, 2013, 10:54:15 AM
3. Is a Marriott Courtyard really a boutique hotel? Do Courtyards offer a unique personalized experience?
I'll defer to Ennis, though I have looked into a nice downtown Courtyard hotel in Detroit, which may be similar. And presumably Marriott knows what they're getting into at this point.
Quote from: johnny_simpatico on August 19, 2013, 10:54:15 AM
4. Are these buildings referred to as a trio because they are three orphans surrounded by the not-much that remains? (I believe so.) Not exactly a positive statement.
They're called that because of the unusual configuration. They've been bundled together to save them. If they weren't, it's very unlikely the Bisbee and (especially) Florida Life buildings would still be there and we'd have even more empty lots downtown.
Quote from: johnny_simpatico on August 19, 2013, 10:54:15 AM
3. Is a Marriott Courtyard really a boutique hotel? Do Courtyards offer a unique personalized experience?
as Lake mentions above, Courtyard has some very nice properties. I stayed in the "new" one in downtown Atlanta mentioned in yesterday's article...take a look at the images here
http://www.marriott.com/hotels/travel/atldo-courtyard-atlanta-downtown/
I'm working in Ormond Beach this morning, so I'll post some pics of boutique Courtyards I've stayed in after lunch.
I stay at many Courtyards around the southeast. If they do this like ATL, then it is "unique". Although the lobby area looks the same, the rooms are different. Wood floors, rugs, special linens, different curtains, modern look and feel in an historic building. The Trio present interesting opportunity in the Florida Life as floors are small. The rendering looks like each of these floor may just have 2 large "suites". Very unique and different. I know Marriott does well in Jax, so I hope they find financing they need. I believe Khan's money was only to purchase the property.
I stayed in a Courtyard Downtown Chicago that I think would Qualify as a "Boutique" hotel.
Couldn't they use this space for dedicated parking.
(http://photos.metrojacksonville.com/photos/889015839_4o3zD-M.jpg)
Mixed use with street level retail of course.
I believe nearly every Marriott brand except for Fairfield Inn includes a few historic boutique hotels in their portfolio. When I travel, I tend to book rooms in the boutiques when they are available. It's pretty cool to see how creative people get with these adaptive reuse projects. Room styles tend to be specific to the footprint of the buildings they occupy. Definitely beats staying in the typical roadside locations. Here are a few of the boutique Marriott hotels I've stayed in over the last few years:
Courtyard by Marriott - Downtown San Diego
This one was pretty cool. It was originally an early 20th-century bank. The restoration kept as much of the bank's features as possible. The original bank tellers were registration and the main lobby was the hotel's restaurant. Upper floor hotel room doors were the original office suite doors. I imagine you could have a similar type atmosphere with a restaurant in the Marble Bank.
(http://photos.metrojacksonville.com/Learning-From/San-Diego-2011/i-ndLKBT4/0/M/P1490161-M.jpg)
(http://media-cdn.tripadvisor.com/media/photo-s/04/4d/4b/14/safe-deposit-foyer.jpg)
(http://www.cdeangelisphotography.com/wp-content/uploads/2011/04/Courtyard-Marriott-San-Diego-Branch.jpg)
Courtyard by Marriott - Downtown St. Petersburg
This one was originally a small hotel. When Marriott went into the property, the original hotel was renovated and new addition was added for more hotel rooms. My room was in the original hotel portion. The elevators were pretty small and since the original rooms didn't include their own bathrooms, two originals were combined for each new unit.
(http://photos.metrojacksonville.com/Learning-From/St-Petersburg-2012/i-jr9zZkt/0/M/P1600979-M.jpg)
(http://exp.cdn-hotels.com/hotels/2000000/1540000/1538600/1538546/1538546_42_b.jpg) (http://exp.cdn-hotels.com/hotels/2000000/1540000/1538600/1538546/1538546_49_b.jpg)
Residence Inn - Downtown Memphis
I believe this one was an old office building. This was the first Marriott historic boutique hotel I stayed in after moving to Jacksonville.
(http://cache.marriott.com/propertyimages/m/memri/memri_home01.jpg)
(http://www.tnetnoc.com/hotelphotos/339/68339/2631759-Residence-Inn-by-Marriott-Memphis-Downtown-Lobby-1-DEF.jpg)
Marriott - St. Louis Union Station
This one was an old train station that was converted into a Marriott. The train station's shed was something very similar to the Jacksonville Landing.
(http://photos.metrojacksonville.com/Learning-From/St-Louis-August-2010/i-bkgGs2D/0/M/P1380927-M.jpg)
(http://photos.metrojacksonville.com/Learning-From/St-Louis-August-2010/i-C5RgV5h/0/M/P1380925-M.jpg)
(http://photos.metrojacksonville.com/Learning-From/St-Louis-August-2010/i-Jb7wgHL/0/M/P1380923-M.jpg)
(http://photos.metrojacksonville.com/Learning-From/St-Louis-August-2010/i-hhRWPnT/0/M/P1380922-M.jpg)
Not be a negative nancy, but with the hyatt looking for a buyer aren't they concerned about occupancy rates for hotels downtown? Maybe they know something we don't? (Convention center? :D :D :D )
^Different product. Sort of like Chomp Chomp not worrying about the hamburger place in the Landing food court closing.
Quote from: JeffreyS on August 19, 2013, 01:01:47 PM
Couldn't they use this space for dedicated parking.
(http://photos.metrojacksonville.com/photos/889015839_4o3zD-M.jpg)
Mixed use with street level retail of course.
It will. Plans call for a parking garage and a mid-rise building to be constructed on that space.
Just stayed at the St. Louis hotel this summer in your pictures. Fantastic and unique.
Quote■ An eight-story building is planned for the now-empty corner of Laura and Adams streets. The ground floor will house the bank, while the top seven floors will be part of the hotel. The roof will feature a bar with open and covered space.
Read more at Jacksonville.com: http://jacksonville.com/business/real-estate/2013-08-17/story/hotel-restaurants-bank-planned-historic-laura-street-trio#ixzz2cR7ZlmrM
Whats this?
Surprised they won't try for rooftop bar on the Bisbee or Florida Life.
Quote from: Bridges on August 19, 2013, 01:20:45 PM
Quote■ An eight-story building is planned for the now-empty corner of Laura and Adams streets. The ground floor will house the bank, while the top seven floors will be part of the hotel. The roof will feature a bar with open and covered space.
Read more at Jacksonville.com: http://jacksonville.com/business/real-estate/2013-08-17/story/hotel-restaurants-bank-planned-historic-laura-street-trio#ixzz2cR7ZlmrM
Whats this?
Surprised they won't try for rooftop bar on the Bisbee or Florida Life.
It doesn't sound like much has changed from 2010, other than the use.
(http://photos.metrojacksonville.com/photos/878714249_Mj3ms-M.jpg)
(http://photos.metrojacksonville.com/photos/878714470_32jEP-600x10000.jpg)
(http://photos.metrojacksonville.com/photos/878714032_R33DY-M.jpg)
More here: http://www.metrojacksonville.com/article/2010-may-barnett-bank-and-laura-trio-rehab
Quote from: Jason on August 19, 2013, 11:31:43 AM
This is EXCELLENT news!!
30 months of construction!? These buildings really are in bad shape.
2.5 years? That appears to be a pretty typical timeline for a project of this magnitude. In general, most of these major projects people want to see will take anywhere from 18-36 months of construction. This is one of the reasons, it will take a while to boost downtown's population, even if the market were booming.
Quote from: JeffreyS on August 19, 2013, 01:19:23 PM
Just stayed at the St. Louis hotel this summer in your pictures. Fantastic and unique.
agreed...but, sorry Lake, technically not a Marriott anymore...now Doubletree by Hilton
Ok. I took those pics back in 2010. Time flies.
Quote from: tufsu1 on August 19, 2013, 01:54:22 PM
Quote from: JeffreyS on August 19, 2013, 01:19:23 PM
Just stayed at the St. Louis hotel this summer in your pictures. Fantastic and unique.
agreed...but, sorry Lake, technically not a Marriott anymore...now Doubletree by Hilton
Yes it is and it is expanding inside a vacant area in Union Station and may re-brand again.
I'm skeptical, but hope it does work out
I stayed at the Courtyard in downtown Seattle a couple of years ago located in a retrofitted building. It was a wonderful hotel and anything like that would be a welcome addition to downtown.
Quote from: edjax on August 19, 2013, 04:55:05 PM
I stayed at the Courtyard in downtown Seattle a couple of years ago located in a retrofitted building. It was a wonderful hotel and anything like that would be a welcome addition to downtown.
Good to hear. I'll be staying in that hotel Labor Day weekend.
http://www.actionnewsjax.com/content/topstories/story/Laura-Street-Trio-faces-obstacle-after-downtown/Gp454wzuYEqMB-NQC4-bCA.cspx
I'm going to surprised if they get this project going.
^^there is really nothing new in this story. I like how they act like they did some digging and found out that they were seeking city incentives. Of course this was known and indicated in the Jax biz joirnal story on it. Other than the hot dog cart vendor comments everything in the story already reported.
That's typical of the Action News approach ... "Breaking News ... City spends YOUR TAX DOLLARS on public services! We seek answers for YOU!"
I hope this project makes it, and having some of that $9 million to sweeten the pot would be good.
Quote from: edjax on August 19, 2013, 08:04:52 PM
^^there is really nothing new in this story. I like how they act like they did some digging and found out that they were seeking city incentives. Of course this was known and indicated in the Jax biz joirnal story on it. Other than the hot dog cart vendor comments everything in the story already reported.
Our local media has no life. They always try and make stories out of non-stories. I really hate watching the news.
Where has Action News been for the last decade? Everyone has known since the Cameron Kuhn days that some sort of incentives would be needed for this particular project.
I'm so sick of our local news media too and comment sections on their websites are even worst.
Here's Channel 4's report on the Trio. They talked with the Downtown Investment Authority CEO Aundra Wallace. *Clean up the typos Channel 4*
www.news4jax.com/news/Laura-Street-trio-project/-/475880/21533254/-/gf6oqa/-/index.html
Quote from: coredumped on August 19, 2013, 01:13:24 PM
Not be a negative nancy, but with the hyatt looking for a buyer aren't they concerned about occupancy rates for hotels downtown? Maybe they know something we don't? (Convention center? :D :D :D )
The Hyatt is back on the market again? Geez what is it with that place, I figured after the auction (3rd time was finally the charm) this year it would be somewhat settled at least for a little while.
Hmm....A convention center hotel over a mile away from the convention center? The results of poor downtown planning and implementation shouldn't be surprising.
Quote from: thelakelander on August 20, 2013, 10:44:03 AM
Hmm....A convention center hotel over a mile away from the convention center? The results of poor downtown planning and implementation shouldn't be surprising.
Lake (and any other MJ regulars), I'd be curious as to how you think both downtown/LaVilla and the convention trade might be different today had the city incentivized Bucky Clarkson's proposed Marriott that would have been adjacent to the Prime Osborn rather than the Adam's Mark when given the choice in '97.
Assuming the rest of LaVilla had not already been taken out, my guess is you'd have an environment between Bay and Houston Street that's similar to what you see in Riverside on King Street around College Street, the breweries and CoRK. You would have had a ton of cheap commercial/obsolete warehouse space suitable for adaptive reuses.
It would have made the argument to keep the convention center where it's at much stronger. I believe Clarkson's hotel was much smaller, so it probably would have fit our market a little better.
^Lavilla was already bulldozed by then. As I recall, Clarkson's proposal was still several blocks away from the convention center. It was too far away from anything else to have much impact; it certainly wouldn't have spurred any more new construction than the better placed current hotel. Plus, the city would have been stuck dealing with Bucky Clarkson.
Quote from: Tacachale on August 20, 2013, 01:52:32 PM
^Lavilla was already bulldozed by then. As I recall, Clarkson's proposal was still several blocks away from the convention center. It was too far away from anything else to have much impact; it certainly wouldn't have spurred any more new construction than the better placed current hotel. Plus, the city would have been stuck dealing with Bucky Clarkson.
LaVilla was gone, or nearly so. The Clarkson hotel stretched across a block or two, but it's property would have been across the street from Prime Osborn, as I recall. It would have had 400 rooms and been 17 stories.
The real mistake was putting the Convention Center so far from the Northbank/Landing in the first place.
Without that mistake would the union terminal still be standing?
^No, and there's the rub. At least putting the center out there saved the building.
The propsoed hotel would have been on the vacant lot next to the Jefferson Skyway station, a hard or inside connection was proposed to the Skyway. The one think we can be thankful for is putting the convention center where it is today saved the historic Jacksonville Terminal. Not the best location, but at least we preserved that building. The time has come to of course move the convention center and return Jacksonville Terminal to a transportation facility.
Just wondering as the excitement builds up over the potential redo of the trio, has anyone heard if a financial deal has been put together to fund this project. We know about the $3 million and that Khan was responsible for at least a million of that to buy the property, but what of the $40million plus to pull the project off. Anyone heard anything on that?
I thought the hotel was going to be across Lee Street from the CC, and office or some other use was going by the Jefferson Station. (And, as I recall, "Jefferson" Station was really supposed to be where the Convention Center and Southbank lines come together - the guideway even splits to allow it. But, because of the Clarkson project, was moved west.)
Quote from: Cheshire Cat on August 20, 2013, 06:23:02 PM
Just wondering as the excitement builds up over the potential redo of the trio, has anyone heard if a financial deal has been put together to fund this project. We know about the $3 million and that Khan was responsible for at least a million of that to buy the property, but what of the $40million plus to pull the project off. Anyone heard anything on that?
I'm not sure but I'm pretty positive it will come from multiple public and private sources.
Thanks Ennis. I would imagine you are right and I bet part of those public funds were supposed to be at least some of the $9million pulled by council.
That and probably some of the city's historic preservation funds as well.
Quote from: thelakelander on August 20, 2013, 10:03:06 PM
That and probably some of the city's historic preservation funds as well.
Shhhhh. lol Tell you what, they are going to have to share some of those funds with Brewster (to complete it and fix the entry stairs and create the back entrance for the disabled) and to restore the Shotgun Houses in LaVilla. Every cent should not be thrown into one pot or behind one preservation effort no matter how big especially considering that the restoration of the shotguns and completion of Brewster would be less than $250K. I think creating activity in LaVilla will enhance what is going on downtown.
Quote from: acme54321 on August 20, 2013, 03:07:06 PM
Without that mistake would the union terminal still be standing?
(http://i196.photobucket.com/albums/aa111/Ocklawaha/RAILROAD%20Depots%20and%20Stations/RAILROAD-UNION-STA-TROY-NY_zps4e64ebda.jpg)
Not if the railroads had their way, 'A station gone is a passenger train that WON'T happen.'
Give me a break! The Laura street trio is worth 50 renovated Brewster buildings and rinky dink shotgun houses. If they need to spend all the historic preservation funds on those 3 buildings to make the deal work it would be well worth it. Where does the citys preservation money come from anyways and what have they used it for recently?
So JP you are commenting on what buildings and efforts deserve preservation funding yet have no earthly idea where the funding comes from and the criterion under which it can be spent or even where it was spent? Alrighty then. Nothing like an informed observation. lol
I read your whole rant about how the DIA has no clue what they are doing and you know better. I dont think you have problem with uniformed opinions but just those you don't agree with.
Quote from: John P on August 21, 2013, 02:41:46 PM
I read your whole rant about how the DIA has no clue what they are doing and you know better. I dont think you have problem with uniformed opinions but just those you don't agree with.
That was no rant John P. but in fact an expression of real concern backed with documentation and links to that documentation. That takes the discussion beyond simple opinion into the reality that the DIA either knowingly hired a person who has misused tax dollars via his own non profit to funnel them to a pop star named P. Diddy or they didn't check into his background which any thinking employer would do before handing someone a contract with a salary of over $178K. The information exposed by the Miami Herald regarding Mr. Wallace is alarming. Now if you are okay with the city hiring folks with this kind of baggage, that is your choice. I however am not okay with it nor am I okay with corruption. That may be the difference between us. I am frankly fine with that. ;) On another note, your opinion about preservation funds was "uniformed" and that is a fact expressed through your own query and not simply an opinion.
Quote from: stephendare on August 21, 2013, 03:38:52 PM
Quote from: Cheshire Cat on August 21, 2013, 03:34:46 PM
Quote from: John P on August 21, 2013, 02:41:46 PM
I read your whole rant about how the DIA has no clue what they are doing and you know better. I dont think you have problem with uniformed opinions but just those you don't agree with.
That was no rant John P. but in fact an expression of real concern backed with documentation and links to that documentation. That takes the discussion beyond simple opinion into the reality that the DIA either knowing hired a person who has misused tax dollars via his own non profit to funnel them to a pop star named P. Diddy and that doesn't even touch on all the other concerns exposed by the Miami Herald. Now if you are okay with the city hiring folks with this kind of baggage, that is your choice. I however am not okay with it nor am I okay with corruption. That may be the difference between us. I am frankly fine with that. ;) On another note, your opinion about preservation funds was "uniformed" and that is a fact expressed through your own query and not simply an opinion.
Bill I think that Diane is entitled to her opinion, same as yourself.
Thank you Stephen. The thing is I went beyond opinion and included verifiable facts and documents with links. Guess J.P. didn't read those. lol You are correct in that my opinion after having discovered all that is attached to Mr. Wallace in the way of scandal is that it is really unthinkable to me that the DIA went ahead went with his hire knowing these facts, especially that he has used a non-profit he created to fund tens of thousands of tax dollars meant to improve the community to a pop star. I frankly don't think the individuals on DIA did the research and knew of these things. The "hire" in my opinion is a very big mistake.
Quote from: stephendare on August 21, 2013, 03:50:11 PM
But dont you think its largely superfluous given the fact that the agency is defunded?
Not entirely Stephen. First because the city has already set aside the money for this mans salary which is a sizable six figures I believe exceeding $178K. Secondly, given the fact that the city council seems to change their views on a regular basis about many things, it isn't a stretch to imagine that some inside discussion could lead to the expenditure of more funds for the DIA. Let me be clear. I am not against the DIA. I think they made a very bad decision. I am also not against refunding the downtown effort. What I want to insure is that the person who is being paid with our tax dollars is not only competent, but honest and ethical and if and when the agency is refunded that we can rest assured that it's director is not one with a history that includes the misappropriation of thousands and perhaps millions in tax dollars.
LoL, how many threads is this convo happening on?!!
He has not been convicted of anything at this point but to my view the fact that he was not isn't reason enough to ignore his history which is spelled out in all the links I provided on the other thread. I have in the past had the opportunity to hire top notch individuals for high level positions in companies which I have either owned or been connected to. I also had input on hires via another Florida city. Any good and competent employer will look at and research the background of an individual they were considering hiring, especially in the case of a position paying this kind of money. These days employers even do credit checks and scope out social media to make sure the person that are hiring has integrity. Character counts.
Quote from: JayBird on August 21, 2013, 04:12:17 PM
LoL, how many threads is this convo happening on?!!
Just one until J.P felt the need to broach the subject on this one. lol One most certainly is enough.