A Mexican-themed brewpub is coming to Kings Avenue in San Marco. I like their idea of serving food, but I'm not sure about the name of the brewpub. "Tepeyolot" sounds too much like "To pay a lot"! :D
https://www.jaxdailyrecord.com/article/aztec-inspired-brewpub-planned-for-san-marco (https://www.jaxdailyrecord.com/article/aztec-inspired-brewpub-planned-for-san-marco)
Pretty cool. That area is really filling in, now that the interchange is open and its an opportunity zone.
(https://myelistings.com/wp-content/uploads/2019/05/king%202.PNG)
Awesome. That strip is booming.
I really hope this kind of thing keeps popping on Kings Ave and Atlantic in the area. Wish him luck!
It will. The area is an Opportunity Zone, has direct access and visibility to I-95 and is within walking distance of San Marco. That's a great mix of ingredients for continued redevelopment and infill.
I still think Jax is near peak brewpub/brewery, but throw in some tacos and I'm in!!
I agree about the name. Hopefully they'll shorten it to something catchier. I get that it has aztec and jag ties, but that's a mouthful. Given all the development about a mile from my house, I may start to take the beach cruiser down that way on saturdays. Watch out world!
That particular location should be a winner. While the building is without any redeeming feature, it has tremendous traffic count and is visible from the Philips Ave off ramp from southbound I-95. It includes a pretty good size grass lot behind it and I would imagine reasonable street parking going back along Bertha Street.
Lake , the are being an Opportunity Zone, can you comment on how that might help this particular re-development please?
That entire area is a tax haven now for investors. Here is a recent JBJ article about opportunity zones:
QuoteOpportunity zones, created in tax legislation passed in 2017, are designed to spur investment in low-income districts by making certain census tracts tax havens.
Investors can defer the taxes owed on unrealized capital gains – the only money that qualifies for opportunity zone benefits – when they are reinvested into opportunity zones. Investors don't pay taxes on that money until they sell their asset or the end of 2026, whichever comes first.
Additionally, if an investor leaves their investment in an opportunity zone asset for five years, 10 percent of their investment becomes tax-exempt. If they wait seven years, 15 percent becomes tax exempt.
Since this seven-year horizon has to be achieved before 2026, the law creates an incentive for opportunity zone investments to occur by the end of 2019.
As another benefit, any gain investors make from their opportunity zone investments will never be taxed. Losses are already tax-exempt.
https://www.bizjournals.com/jacksonville/news/2019/08/22/packed-room-answers-questionwhat-could-opportunity.html