JWB just purchased a property that was a part of FBC's downtown campus.
QuoteAfter the temporary shelter is no longer needed, Sifakis said the company plans to repurpose the warehouse as a Downtown amenity space.
JWB has not started conversations with operators or tenants, but Sifakis said uses could range from a food court to a bowling alley. Sifakis said JWB is still open to ideas.
https://www.jaxdailyrecord.com/article/jwb-real-estate-capital-buys-downtown-warehouse-for-dollar652-500
COVID definitely impacted the selling off of their properties. They were looking at a buyer for all of them but I think in this environment, it's going to be sold piece by piece at a much slower rate.
One thing to note, this Sunday is the last Sunday they will have services in Main Auditorium before moving into the renovated Lindsey Memorial Auditorium across the street.
This is good.
Am I imagining it or doesn't FEMA have thousands of trailers sitting empty somewhere? Like in case of storms or major flooding? Why not put them to use in a situation like this?
I prefer the piecemeal approach. The end product will be much more authentic and diverse and it some projects will actually get done.
Is FBC using a Broker or do you just go knock on the door....?
Quote from: MusicMan on March 12, 2021, 09:33:34 AM
Is FBC using a Broker or do you just go knock on the door....?
They have a broker, I think its CBRE if I'm not mistaken
Quote from: Jagsdrew on March 12, 2021, 08:52:29 AM
COVID definitely impacted the selling off of their properties. They were looking at a buyer for all of them but I think in this environment, it's going to be sold piece by piece at a much slower rate.
One thing to note, this Sunday is the last Sunday they will have services in Main Auditorium before moving into the renovated Lindsey Memorial Auditorium across the street.
So what are they going to do with the Main Auditorium? Sell it? Renovate it for another use?
Quote from: heights unknown on March 13, 2021, 08:13:36 AM
Quote from: Jagsdrew on March 12, 2021, 08:52:29 AM
COVID definitely impacted the selling off of their properties. They were looking at a buyer for all of them but I think in this environment, it's going to be sold piece by piece at a much slower rate.
One thing to note, this Sunday is the last Sunday they will have services in Main Auditorium before moving into the renovated Lindsey Memorial Auditorium across the street.
So what are they going to do with the Main Auditorium? Sell it? Renovate it for another use?
It will be sold. They can't financially keep up with the maintenance of the building with the congregation size they have.
I'm wondering more what else it would be used for. Is there demand for a 10,000 seat church sanctuary for other purposes? Do you just retrofit it into a theater/auditorium, or make more serious renovations to add internal walls and floors and make it something else?
I mean, it's a bit of an albatross. I suppose in some world it could be a concert venue, but this is probably the worst time in the history of live music to do that. The interesting thing is the normal debate is, "Where's the parking?" and in this case it's not an issue.
But regardless, how many concerts (as a percentage) routinely fill up 10,000 seats (or anywhere close to it)?
My thought is the auditorium and at least one parking garage would be packaged together (I know they wanted to sell all 8 blocks but I thought given Jacksonville's history at mega developments it was a terrible idea). The auditorium is effectively then dirt with parking around it for something else.
Maybe I'm mistaken but wasn't the original plan was to sell off the academy block, the large auditorium (Ruth Lindsay) block, the bookstore block and the 3 parking structures south of Union St. and consolidate into the Hobson block (which involved demolishing a historic structure).
Seems like COVID derailed that plan completely. I can't find the article, but my memory seems to remember that the new plan was to fix critical systems in Ruth Lindsay now with congregation donations and consolidate there permanently. Then a larger loan would be taken to upgrade the Ruth Lindsay for their future needs and when the market got better; they stay in the Ruth Lindsay and sell the Hobson Block and all other holdings to pay off the debt. Depending on price, any extra funds could be used as rainy day maintenance fund.
I frankly think First Baptist renovating and staying in the Ruth Linsday and selling everything else (except maybe one garage) would be a bigger win for DT then them consolidating (and demolishing) into the Hobson.
Quote from: Steve on March 15, 2021, 12:49:13 PM
I mean, it's a bit of an albatross. I suppose in some world it could be a concert venue, but this is probably the worst time in the history of live music to do that. The interesting thing is the normal debate is, "Where's the parking?" and in this case it's not an issue.
But regardless, how many concerts (as a percentage) routinely fill up 10,000 seats (or anywhere close to it)?
My thought is the auditorium and at least one parking garage would be packaged together (I know they wanted to sell all 8 blocks but I thought given Jacksonville's history at mega developments it was a terrible idea). The auditorium is effectively then dirt with parking around it for something else.
I see a reuse of the auditorium akin to what the KIPP school did with the dog track stadium on McDuff. It would make sense for a college (nearby FSCJ?) to gut the building shell, build in some floor plates, and use it for classroom/labs/meeting spaces/conference center/etc. Students could park on the FSCJ campus, in the garages, or, maybe live in nearby residential and walk to the building. The latter option would certainly help to "energize" Downtown, especially this area which is mostly a dead zone now.
^I'd love to see FSCJ take some of that space and expand further south of State & Union.
Quote from: itsfantastic1 on March 15, 2021, 12:54:26 PM
Maybe I'm mistaken but wasn't the original plan was to sell off the academy block, the large auditorium (Ruth Lindsay) block, the bookstore block and the 3 parking structures south of Union St. and consolidate into the Hobson block (which involved demolishing a historic structure).
Seems like COVID derailed that plan completely. I can't find the article, but my memory seems to remember that the new plan was to fix critical systems in Ruth Lindsay now with congregation donations and consolidate there permanently. Then a larger loan would be taken to upgrade the Ruth Lindsay for their future needs and when the market got better; they stay in the Ruth Lindsay and sell the Hobson Block and all other holdings to pay off the debt. Depending on price, any extra funds could be used as rainy day maintenance fund.
I frankly think First Baptist renovating and staying in the Ruth Linsday and selling everything else (except maybe one garage) would be a bigger win for DT then them consolidating (and demolishing) into the Hobson.
Long story short, that was the original plan but they were denied demolition permits for the building next to the Hobson Auditorium due to it's significance as a contributing structure.
They were delayed due to opposition but they eventually got council to allow them to demo the Sunday School Building. Luckily, the delay took long enough for COVID to dry up the financing plan they originally had. In the end, them going into Ruth Lindsay is a plus for them and downtown.
Quote from: thelakelander on March 15, 2021, 01:39:08 PM
^I'd love to see FSCJ take some of that space and expand further south of State & Union.
Whoever purchases the building, it's in need of major overhaul and repair. From electrical, plumbing, roof, HVAC, all have their myriad of problems and issues. The church has said multiple times that they never know if the lights will turn on, sound, utilities, etc. and they did a top down inspection with a company to assess what it would cost to just get it up to par and it was in the million upon millions.
^Gutting the building to a shell and starting over will address most of these issues. Unfortunately for the church, the price will reflect this effort. Their biggest benefit will be getting some amount of cash, however much, and unloading a building that is a drag on their budget and/or not getting any better if they have stopped maintaining it.
It is likely a pipe dream that they will get paid for the improvements that make it an "auditorium" unless they can find that rare user that will use it just like they did (maybe the 11-22 or Celebration churches?).
Quote from: jaxlongtimer on March 15, 2021, 04:10:42 PM
^Gutting the building to a shell and starting over will address most of these issues. Unfortunately for the church, the price will reflect this effort. Their biggest benefit will be getting some amount of cash, however much, and unloading a building that is a drag on their budget and/or not getting any better if they have stopped maintaining it.
It is likely a pipe dream that they will get paid for the improvements that make it an "auditorium" unless they can find that rare user that will use it just like they did (maybe the 11-22 or Celebration churches?).
Good point if they see a fit for themselves but both of those churches seem to be satisfied with their main & satellite campuses in the suburbs.
I was gonna throw the idea of turning the auditorium into a convention center and getting a hotel built next to the Skyway out there, but then I realized that it might still be too small for that (and maybe not the best location). Perhaps divide the building into a movie theater?
Quote from: jaxlongtimer on March 15, 2021, 04:10:42 PM
It is likely a pipe dream that they will get paid for the improvements that make it an "auditorium" unless they can find that rare user that will use it just like they did (maybe the 11-22 or Celebration churches?).
I can't imagine Eleven22 or Celebration wanting to build downtown in its current state, and even if they did, wanting that much space. Celebration's main campus on Southside was already $15 million a decade ago, and that only holds 3,000 people. Generally the practice of those churches is to build multiple smaller campuses, not one gigantic one.