QuoteMost of Regency Square Mall is scheduled for auction March 21 by the Duval County Clerk of Courts after a $162,872 judgment was levied against the mall owners.
The judgment was awarded to JAAMM Inc., a nonprofit company that operated the former Jacksonville Automotive & Motorcycle Museum in the former Montgomery Ward store in the mall in 2016 and 2017.
The nonprofit filed a lawsuit against Regency's owners in June 2017, saying the owners did not reimburse the company as required for $135,044 in improvements on the property made by JAAMM. The final judgment includes attorney's fees and other costs.
Full article: https://www.jaxdailyrecord.com/article/regency-square-mall-could-be-auctioned
Any chance we can all pool our money together and redevelop Regency Square? ;D
What does everyone feel like is the end game here? There is almost zero chance the mall can be revived in it's current format. Does it just get torn down?
indoor paintball arena... 8)
Quote from: BridgeTroll on February 08, 2019, 08:19:50 AM
indoor paintball arena... 8)
That would be lit. We can dream!
Quote from: Tacachale on February 08, 2019, 08:25:38 AM
Quote from: BridgeTroll on February 08, 2019, 08:19:50 AM
indoor paintball arena... 8)
That would be lit. We can dream!
Where do I pay for my annual membership? Ever since the annual paintball weekends at Dee Dot got discontinued, i've been itching to unleash a paintball fury on somebody
Quote from: Captain Zissou on February 08, 2019, 09:17:22 AM
Quote from: Tacachale on February 08, 2019, 08:25:38 AM
Quote from: BridgeTroll on February 08, 2019, 08:19:50 AM
indoor paintball arena... 8)
That would be lit. We can dream!
Where do I pay for my annual membership? Ever since the annual paintball weekends at Dee Dot got discontinued, i've been itching to unleash a paintball fury on somebody
There is one on Normandy Blvd...
http://www.whilspaintball.com/
New HQ for JEA? Plenty of parking, not in a flood zone, easy access with plenty of bus routes, high visibility. Move the school board there too.
Regency isn't downtown. So you'd be taking 836 jobs away from the core. Also, a retail footprint may not be built to the specifications a public utility needs.
Guess the hint of sarcasm was missed. ;)
What a disaster:
Regency Square Mall foreclosure auction scheduled
https://www.jaxdailyrecord.com/article/regency-square-mall-foreclosure-auction-scheduled
Quote from: thelakelander on February 20, 2019, 08:18:54 AM
What a disaster:
Regency Square Mall foreclosure auction scheduled
https://www.jaxdailyrecord.com/article/regency-square-mall-foreclosure-auction-scheduled (https://www.jaxdailyrecord.com/article/regency-square-mall-foreclosure-auction-scheduled)
So... any buyers?
Seriously, is there any realistic guess of who is likely to buy this?
Any reason we can't form a development company tomorrow and somehow do this? ;D
Whoever owns it now is not going to lose it over $100k.
Maybe the City could relocate the Landing tenants that are about to be displaced.
If anything needs to be leveled it's that mall. That is definitely not the best and highest use for that property.
Uh... okay?
https://www.actionnewsjax.com/news/local/new-tenants-coming-to-regency-square-mall/925120374
Lol at this article. A church is a death blow for a mall. Definitely a non story.
Quote from: thelakelander on February 27, 2019, 08:27:14 AM
Lol at this article. A church is a death blow for a mall. Definitely a non story.
Mall manager James Kramer told Action News Jax that the church's 4,000-person congregation will mean more foot traffic -- which could attract more tenants.
I think you are being shortsighted Lake. Consider how beneficial the thousands of First Baptist congregants are to DT JAX.
A church and a food pantry! This is Regency Square's gamechanger!
Quote from: vicupstate on February 27, 2019, 08:33:29 AM
Quote from: thelakelander on February 27, 2019, 08:27:14 AM
Lol at this article. A church is a death blow for a mall. Definitely a non story.
Mall manager James Kramer told Action News Jax that the church's 4,000-person congregation will mean more foot traffic -- which could attract more tenants.
I think you are being shortsighted Lake. Consider how beneficial the thousands of First Baptist congregants are to DT JAX.
As someone who used to go to FBC, I can't tell you enough how hilarious that is.
I can still remember all the Sunday mornings we would dress up, drive half an hour into downtown, go to the service, then go like a bat out of hell back to SJC.
Wow. Regency may be going down the tubes but the current owner has already doubled their investment by simply selling off parts of the property:
QuoteA partnership of Mason Asset Management and Namdar Realty Group LLC, both based in Great Neck, New York, paid $13 million Feb. 14, 2014, for the mall. At the time, the property was assessed at more than $30 million.
The companies specialize in acquiring aging shopping centers and regional malls.
QuoteWhile the tenants have been dwindling, Mason and Namdar more than doubled their initial investment about a year after they acquired the 900,000-square-foot mall on the 110-acre site.
In 2015, the AMC Regency 24 movie theater outparcel was sold to a theater-ownership group for $26.2 million.
In 2016, Impact Church of Jacksonville Inc. bought the former Belk store for $7 million.
Full article: https://www.jaxdailyrecord.com/article/regency-square-mall-owner-considering-selling-property
How is that... possible?
The mall itself really dragged down the value of everything else so much that the value of the whole thing was half of just AMC?
One man's trash is another man's treasure. Evidently, they saw value for their investors regardless of whether the mall rebounds or not.
The city needs to buy Regency for three times what the owner paid, buy out the tenant leases and tear it down.
I'm actually not opposed to some of these ideas.
https://www.jaxdailyrecord.com/article/we-have-creative-ideas--jacksonville-firm-seeking-tenants-for-regency-square-mall
I wonder why they aren't taking the demo first and figure it out later approach? After all, it's an outdated mall that hasn't been renovated in +20 years.
Quote from: thelakelander on March 22, 2019, 10:13:09 AM
I wonder why they aren't taking the demo first and figure it out later approach? After all, it's an outdated mall that hasn't been renovated in +20 years.
Can someone please find Lenny Curry (https://www.youtube.com/watch?v=5ZiN0O6tI8g) so I can make sense of all this?
Quote from: martt12 on March 22, 2019, 08:40:33 AM
I'm actually not opposed to some of these ideas.
https://www.jaxdailyrecord.com/article/we-have-creative-ideas--jacksonville-firm-seeking-tenants-for-regency-square-mall (https://www.jaxdailyrecord.com/article/we-have-creative-ideas--jacksonville-firm-seeking-tenants-for-regency-square-mall)
This is... surprisingly competent and interesting. Where have these guys been?
I suppose the second best time is always now.
Quote from: vicupstate on February 28, 2019, 04:17:28 PM
The city needs to buy Regency for three times what the owner paid, buy out the tenant leases and tear it down.
Awesome