Quote(https://photos.moderncities.com/Cities/Jacksonville/Development/RD-RCB-Restaurant/i-pFwK9t8/0/34a85eac/L/20210513_DDRB%20AGENDA%20PACKET_Page_219-L.jpg)
A look at conceptual plans for a new riverfront restaurant adjacent to Friendship Fountain.
Read More: https://www.thejaxsonmag.com/article/rd-river-city-brewing-restaurant-proposed/
Nice! Between this site and the old Landing, Jax finally has a chance to have some quality waterfront dining destinations Downtown. And no, I don't consider the old Landing, River City Brewing Company, Ruth's Chris, Mortons, or Chart House to be quality destinations from a design perspective.
With the amount of parks we have, I'm surprised these smaller sq ft restaurants aren't more common to be built alongside a popular park in Jacksonville.
Quote from: CityLife on May 07, 2021, 08:22:49 AM
And no, I don't consider the old Landing, River City Brewing Company, Ruth's Chris, Mortons, or Chart House to be quality destinations from a design perspective.
All of these (well the places that are left) seem like low hanging fruits, in terms of improving the design/interaction of these spaces with the river walk. I'm really surprised that more wasn't done with better integrating the Hyatt's first floor spaces with the new river walk.
It looks nice, but...I'd like to see an entrance that's oriented towards the riverwalk and Friendship park. Maybe rework the arbor seating or build a walkway from the riverwalk that leads to the front entrance. Is the parking for this restaurant in the garage for the residential development with a valet service or something?
Good point, Fallen Buckeye, the restaurant doesn't engage very well with the Riverwalk or the river.
Quote from: Fallen Buckeye on May 07, 2021, 09:47:36 AM
It looks nice, but...I'd like to see an entrance that's oriented towards the riverwalk and Friendship park. Maybe rework the arbor seating or build a walkway from the riverwalk that leads to the front entrance. Is the parking for this restaurant in the garage for the residential development with a valet service or something?
It is setback a bit further from the river than is ideal, but the pool and "pool court" are located to the northwest of the restaurant. If the restaurant was pushed closer to the river, it would block views from those two spots. Also, lot of restaurant operators do not want cyclists, joggers, walkers, and the general public immediately next to their patrons. If you are having a wedding reception or private party on the upper floor, the last thing you want is loud people on the Riverwalk spying on your event or creating noise. If you are trying to have a romantic dinner, you don't want a family with young kids right next to you on the Riverwalk. It does great business, but it's a problem for the Smith and Wollensky at South Pointe Park in Miami Beach, for instance.
Quote from: Jagsdrew on May 07, 2021, 08:32:36 AM
With the amount of parks we have, I'm surprised these smaller sq ft restaurants aren't more common to be built alongside a popular park in Jacksonville.
Memorial Park will soon have multiple.
Springfield Park has one, but the restaurant doesn't take advantage of the proximity.
Quote from: Charles Hunter on May 07, 2021, 10:32:25 AM
Good point, Fallen Buckeye, the restaurant doesn't engage very well with the Riverwalk or the river.
This restaurant is based off the design of Glass & Vine in Coconut Grove. That one is set back further away from Biscayne Bay but still has a very inviting environment.
https://glassandvine.com/
Quote from: thelakelander on May 07, 2021, 09:16:53 AM
Quote from: CityLife on May 07, 2021, 08:22:49 AM
And no, I don't consider the old Landing, River City Brewing Company, Ruth's Chris, Mortons, or Chart House to be quality destinations from a design perspective.
All of these (well the places that are left) seem like low hanging fruits, in terms of improving the design/interaction of these spaces with the river walk. I'm really surprised that more wasn't done with better integrating the Hyatt's first floor spaces with the new river walk.
Agreed. A lot of operators don't have the vision to think up things like this or simply need to be shown it can be successful in a market. Perhaps when this restaurant (and hopefully one or two at the Landing) succeed, others will take note and make some obvious upgrades.
I was thinking more of the DIA/COJ playing a leading role during the design and redevelopment of the river walk. It didn't have to be the same street width and sidewalk width as before. They and the consulting team had full design control over what the intersection of Coastline Drive and Market Street could have been. Perhaps it could have been a curb-less environment or something with narrow lanes and a paving pattern that would open up into an outdoor plaza with seating in front of the Morton's and the two restaurant spaces next door to it on the ground floor of the Hyatt. Basically something similar to what JWB has planned for the former parking lot next to Sweet Pete's:
(https://photos.smugmug.com/Cities/Jacksonville/Development/FBC-Federal-Reserve-Project/i-8SxTg8L/0/7ea0bc0d/X2/20210513_DDRB%20AGENDA%20PACKET_Page_130-X2.jpg)
(https://photos.smugmug.com/Cities/Jacksonville/Development/FBC-Federal-Reserve-Project/i-Ztr68tW/0/0b11a92b/X2/20210513_DDRB%20AGENDA%20PACKET_Page_123-X2.jpg)
Could have even thrown in an outdoor bar or cafe similar to what's at the power plant in Savannah:
(https://photos.smugmug.com/Cities/Savannah---April-2021/i-g9tm6RF/0/7e8307c8/X2/20210416_174840-X2.jpg)
(https://photos.smugmug.com/Cities/Savannah---April-2021/i-TCCpLg6/0/2e097a40/X2/20210416_174945-X2.jpg)
Luckily, the opportunity still exists. However, Morton's and those other two operators in there may not if traffic doesn't pick up soon.
^Gotcha. Good idea! Another idea would have been to allow Morton's to have an outdoor seating location directly on the water (south of Coastline). That is how the aforementioned Smith and Wollensky is in Miami Beach at South Pointe Park (which is 5x busier than the Jax Riverwalk). There is an outdoor seating area separated from the restaurant by the heavily traveled multi-purpose path. It's not as good of an outdoor area as the RD River City proposal, but still much better than having virtually no water views or quality outdoor space. Coastline is low volume enough that it could have worked from a pedestrian/waiter safety perspective.
Here's what the Smith and Wollensky looks like.
(https://assets.simpleviewinc.com/simpleview/image/upload/c_fit,w_1440,h_900/crm/miamifl/Smith---Wollensky-5-1440x900-85468ffa5056a36_8546917a-5056-a36a-0b3abecbd304374a.jpg)
(https://c8.alamy.com/comp/HWBX23/florida-fl-south-miami-beach-south-beach-south-pointe-park-smith-wollensky-HWBX23.jpg)
I like especially if they actually make it look like rendering. The greenery gives it an inviting feeling. The covered outdoor seats will be good in Jax where winter can be cold and wet compared to south Florida.
The rendering reminds me of the Bryant Park Grill in NYC:
(https://c8.alamy.com/comp/C2E8W0/ivy-covered-bryant-park-grill-restaurant-bryant-park-manhattan-usa-C2E8W0.jpg)
I like it. If the food is good, as small as it is, it will be packed. Hopefully that will inspire more, similar establishments to invest and open.
Related looks to be eyeing additional opportunity in Jax as well.
https://www.bizjournals.com/jacksonville/news/2021/06/03/related-azure-jax-beach.html
Nice!
Per the Biz Journal, Related is scouting sites for workforce housing downtown.
River City Brewing demolished.
Project appears dead.
https://www.jacksonville.com/story/news/local/2023/01/25/jacksonville-ends-deal-with-related-group-for-downtown-apartments/69839733007/
Great work, Jax!
Going to be hilarious if we end up spending $10 million in taxpayer money to rebuy the land from Related.
Absolutely unbelievable.
A BIGGER AND BETTER OPPORTUNITY IS ABOUT TO PRESENT ITSELF
Quote from: JaGoaT on January 25, 2023, 06:23:15 PM
A BIGGER AND BETTER OPPORTUNITY IS ABOUT TO PRESENT ITSELF
Really now? Do you know something that we don't? So.......why don't you NOT TELL US ABOUT IT.
Quote from: Ken_FSU on January 25, 2023, 06:15:04 PM
River City Brewing demolished.
Project appears dead.
https://www.jacksonville.com/story/news/local/2023/01/25/jacksonville-ends-deal-with-related-group-for-downtown-apartments/69839733007/
Great work, Jax!
Going to be hilarious if we end up spending $10 million in taxpayer money to rebuy the land from Related.
Absolutely unbelievable.
Maybe JaGOAT was right; maybe there's something bigger, better, (and taller?) on the horizon for this piece of real estate; but I don't think so as DIA (Lori) says she left the door open for them to come back with something else in the future.
Quote from: Ken_FSU on January 25, 2023, 06:15:04 PM
River City Brewing demolished.
Project appears dead.
https://www.jacksonville.com/story/news/local/2023/01/25/jacksonville-ends-deal-with-related-group-for-downtown-apartments/69839733007/
Great work, Jax!
Going to be hilarious if we end up spending $10 million in taxpayer money to rebuy the land from Related.
Absolutely unbelievable.
Unfortunate situation. Not all proposals materialize. In fact, most don't. One of the reasons we always push keeping and adding to what you already have. Our track record of knocking functional things down and replacing them with something better is pretty bad. We should get out that line of business.
For the foreseeable future, we've replaced a functional riverfront restaurant with a vacant blighted lot. Related really has no reason to sell. They can sit on this thing for years. Hopefully, we can learn from this.
Quote from: thelakelander on January 25, 2023, 07:04:51 PM
Hopefully, we can learn from this.
Will they really, though? All this money poured into Friendship Fountain and with MOSH leaving soon.. what's left? Decades and decades of failure in this city.
Lori Boyer isn't the right fit to lead the DIA.
I mean that with no disrespect toward her personally, and recognize that she's done some good blocking and tackling with beefing up the historic preservation fund.
She just doesn't operate with any urgency, and the vast majority of her high-profile RFPs have gone up in flames. Private development at critically important Landing, Ford on Bay, Berkman II, Laura Street Trio, and Related sites is YEARS away. She has supported the rushed demolition of active riverfront businesses at the Landing and River City and allowed these properties to sit vacant for YEARS and is toothless when a developer illegally tore down the old Greyhound station to replace it with a parking lot. She's working on a Convention Center plan in a vacuum that necessitates a billion dollar jail relocation before a dime is spent on the CC. Public projects at Friendship Park and the Times-Union Center have dragged on for YEARS. The retail corridor program has brought almost no new business to the CBD. There's still no true master plan.
Despite Florida absolutely booming since the pandemic, the only substantial investment in downtown Jax under her watch has come from local developers like VyStar, Corner Lot, JWB, Vestcor, and Iguana.
Keep her in the DIA to work on legislation and to green stamp 75% REV grants after 12 months of glacial negotiations if you want, but this job demands someone with a proven track record of revitalizing major urban areas elsewhere in America. Depressing to think what the guy from Kansas City could have done had we gone thought big instead of small when filling the position.
Time for the clown army which invaded The Bank for last year's final home game to make a trip over to the DIA's office. Half of the entire downtown riverfront is empty nothingness. The Jags didn't even Jag this hard.
When a functional, occupied building is being demolished by a private developer, there should be liquidated damages in the deal to discourage this exact thing from happening. If the developer balks at such a provision, it tells you how confident they are (not) in executing the agreed-upon timeline.
The city inflicted the Landing debacle on themselves as owners and (momentary) operators, now would-be developers, of the property. Now they've subsidized Related doing the exact same thing. At a minimum, you'd like to see some righteous indignation on the part of the DIA just to pretend they've got a backbone. The quotes in the article read as a green-light to future partners: "If you get cold feet, no big deal--feel free to break our deal and hey, maybe you can come back for an even better deal later!"
I guess at least now the city will be free to tear down and ruin the old MOSH site of its own volition, since the cancelation of the deal means Related should no longer get a say as to what happens at that site. Maybe the fountain will be done by then and we can have a few acres of paid surface parking to go see it? ::)
Quote from: WarDamJagFan on January 25, 2023, 08:28:30 PM
Time for the clown army which invaded The Bank for last year's final home game to make a trip over to the DIA's office. Half of the entire downtown riverfront is empty nothingness. The Jags didn't even Jag this hard.
Maybe we can move the Orleck around strategically to block the holes in the skyline?
Quote from: Ken_FSU on January 25, 2023, 07:28:45 PM
Lori Boyer isn't the right fit to lead the DIA.
I'm not making an argument either way about the DIA but wondering what your thoughts would be.
I you were in her position, how would you go about resolving the core Related project issue (project not being economically feasible) that appears to have killed it? More extensions? Additional city incentives?
Quote from: jaxoNOLE on January 25, 2023, 10:48:14 PM
Quote from: WarDamJagFan on January 25, 2023, 08:28:30 PM
Time for the clown army which invaded The Bank for last year's final home game to make a trip over to the DIA's office. Half of the entire downtown riverfront is empty nothingness. The Jags didn't even Jag this hard.
Maybe we can move the Orleck around strategically to block the holes in the skyline?
That might not be a bad idea. That boat will struggle sitting in the middle of a dirt field by itself. It was already a risky project but we're a few years away from a park being constructed and completed at the Shipyards. At least at the Related site there's a paved parking lot and it's next to MOSH (not moving for a few years) and Friendship Fountain.
No surprise. Watch Related come back with a project half the size and get the same total dollar incentives from the City. Just like Khan got more dollars because "his costs rose." All the risk is put back on the City and the City is putty in the hands of developers.
I am actually glad this project isn't going forward. Never liked the building design, that it was on, effectively, public park property, and that it was too close to the edge of the river for its height. So.... good riddance. The City has held on to $10 million, interest free, for some time. I say buy it back for the same $10 million, a bargain price, and grow our public access to the river, don't develop it.
Regarding Boyer, I expect if Cumber or Deegan get elected, an early move will be finding a new DIA head. Boyer was great on the City Council but she is clearly in over her head in this patronage job. Uncharacteristically, based on her prior history, she kowtowed to Curry which just dug the hole deeper. DIA should be able to take the long view and be more independent of the whims of the mayor and City Council while being held more accountable for doling out taxpayer dollars to developers.
I expect other projects may die, too, like the Hardwick and the tower for the Landing property. Only reason I don't include the Four Seasons is Khan has such deep pockets that he can plow through less favorable conditions plus he likely got such a sweetheart deal that it covers even stressed economics with no problem.
In sum, all this represents the continuing failures of the City to master plan a coherent vision for Downtown and to execute effectively. Most importantly, it demonstrates our failing leadership, once again.
Quote from: thelakelander on January 25, 2023, 10:55:18 PM
Quote from: Ken_FSU on January 25, 2023, 07:28:45 PM
Lori Boyer isn't the right fit to lead the DIA.
I'm not making an argument either way about the DIA but wondering what your thoughts would be.
I you were in her position, how would you go about resolving the core Related project issue (project not being economically feasible) that appears to have killed it? More extensions? Additional city incentives?
My frustration is less with the project itself falling through, and more with Lori Boyer and the DIA cheerfully going along with the demolition of one of our few remaining riverfront restaurants years before the project was set to break ground.
It's a pattern of destruction and ineptitude we've seen time and time again from Lori Boyer - making near unilateral decisions, with real consequences to downtown vibrancy, based on her own shoddy hunches.
For the Related project, let's not forget that she was fine with letting Related develop the project with no restaurant whatsoever, citing her belief that the apartments might result in a random "fish camp" opening up nearby in an undisclosed location. Oliver Barakat is the one who went to bat for the inclusion of the restaurant. The DIA allowed the 77-year lease to be transferred to Related and River City to be torn down, with limited assurances from Related that the project would actually break ground.
For the Landing, Lori Boyer again definitively stated that if we knock down the Landing immediately and clear out those 30 businesses adding vibrancy to the CBD, the RFP would be much more attractive to private development. So, we rushed to tear down the Landing, got one response to the RFP, and years later, we're no closer to private development.
For the Landing Park, Lori Boyer picked the winning firm, by her own words, because of the "JAX" art installation. As soon as the public started bashing the statue, she claims that it might not even end up in the park, making a total mockery of the RFP process and invalidating the entire reason P+W was chosen to design the Landing Park.
Ford on Bay is on its 3rd RFP, and doesn't appear anywhere close to breaking ground. Despite claiming during the RFP process that she would favor a firm willing to get to work immediately, the timelines for this one stretch out years into the future as well, with substantial changes already being made to the winning bid.
Ditto Berkman 2.
Lori Boyer seems to have unilaterally decided that the site of our current jail is the best place for a convention center - a proclamation not backed by any formal study that's publicly available, and one that's going to add 20 years and a billion dollars to our convention center timeline.
She's allowed an illegal parking lot to operate on the old Greyhound bus site for several years under the ridiculous claim that a Miami developer is going to build an 80-story tower on the site. She doesn't seem to know what a master plan actually is, and remains steadfastly committed to this bloated 10,000-resident magic bullet.
The Friendship Fountain renovation project was supposed to be finished in 2021; the park remains roped off.
To your original question, projects fall through, developers back out, and incentive packages expire. That's fine on occasion. But if you're leading the charge for downtown revitalization in a major Top 40 city during a historic population boom, you've got to be able to close some of these deals, carry them through to construction in a timely fashion, and attract investment from outside of Jacksonville. And in four years, that just hasn't happened as much as it should have.
We're just spinning our wheels, particularly on the riverfront, while cities like Nashville, Atlanta, Tampa, and Orlando just keep building.
I am usually a viewer and not a contributor, but this deal just feels so wrong. The economics are there to develop Riverfront Multifamily & Retail spaces. The Southerly at Southbank is nearly 95% occupancy and was sold for over $300k per unit... not to mention this project was intended to be higher end, with a better location! Not to mention the slew of incentives...
I just can't wrap my head around how the economics are all of a sudden unviable. If anything these recent sales have set a really solid ground floor for pricing.. Southerly was sold during the higher interest environment so that's not a reliable copout.
I think a user earlier hit it on the head. The developer knew their terms sheet had the language to allow for this situation. A luxury brand can essentially wait on A+ prime land with now more leverage against the city?
Seems as though we are begging and pleading for these companies to build on sites with already existing strong economics. This is the Southbank... on the River...
Quote from: jaxlongtimer on January 26, 2023, 12:17:35 AM
No surprise. Watch Related come back with a project half the size and get the same total dollar incentives from the City. Just like Khan got more dollars because "his costs rose." All the risk is put back on the City and the City is putty in the hands of developers.
I am actually glad this project isn't going forward. Never liked the building design, that it was on, effectively, public park property, and that it was too close to the edge of the river for its height. So.... good riddance. The City has held on to $10 million, interest free, for some time. I say buy it back for the same $10 million, a bargain price, and grow our public access to the river, don't develop it.
Regarding Boyer, I expect if Cumber or Deegan get elected, an early move will be finding a new DIA head. Boyer was great on the City Council but she is clearly in over her head in this patronage job. Uncharacteristically, based on her prior history, she kowtowed to Curry which just dug the hole deeper. DIA should be able to take the long view and be more independent of the whims of the mayor and City Council while being held more accountable for doling out taxpayer dollars to developers.
I expect other projects may die, too, like the Hardwick and the tower for the Landing property. Only reason I don't include the Four Seasons is Khan has such deep pockets that he can plow through less favorable conditions plus he likely got such a sweetheart deal that it covers even stressed economics with no problem.
In sum, all this represents the continuing failures of the City to master plan a coherent vision for Downtown and to execute effectively. Most importantly, it demonstrates our failing leadership, once again.
Agree 200%. The DIA is not and never will be 'independent' in any sense. It is 100% an arm of the city and unlike most cities, JAX has a Strong Mayor form of government that exceeds the power invested in the mayor's office in nearly any city.
If Curry wanted the Landing gone, there was no way the DIA was not going to advocate for that. For years I have advocated for a non-profit organization to represent DT businesses, residents and property owners be formed.
^Preach. Totally agree.
For this Related project in particular, the mayor's office badly undercut the DIA from the get-go. While Related and the DIA were negotiating the project with the understanding that MOSH was building their museum of the future adjacent the proposed residential development, the mayor's office was secretly planning to pay MOSH $20 million to move across the river to Khan-land. DIA seemed fairly blindsided when the MOSH news broke.
Honestly, the city should concentrate on the true Northbank core and just forget about the riverfront sites for the next 8-10 years. Once the area between State/Union and Bay are revived, the riverfront sites will command top dollar and top flight projects. But everyone knows the NB core is a dead zone. DIA needs to concentrate on getting more projects done within 4-5 blocks of Hemming Plaza (including First Baptist). JWB and others are already investing there. Get the two way streets done and work on the smaller buildings to infill between the big ones (Old Federal Reserve, Old Independent Life, Ambassador Hotel, etc.)
Quote from: Ken_FSU on January 25, 2023, 07:28:45 PM
Lori Boyer isn't the right fit to lead the DIA.
I mean that with no disrespect toward her personally, and recognize that she's done some good blocking and tackling with beefing up the historic preservation fund.
She just doesn't operate with any urgency, and the vast majority of her high-profile RFPs have gone up in flames. Private development at critically important Landing, Ford on Bay, Berkman II, Laura Street Trio, and Related sites is YEARS away. She has supported the rushed demolition of active riverfront businesses at the Landing and River City and allowed these properties to sit vacant for YEARS and is toothless when a developer illegally tore down the old Greyhound station to replace it with a parking lot. She's working on a Convention Center plan in a vacuum that necessitates a billion dollar jail relocation before a dime is spent on the CC. Public projects at Friendship Park and the Times-Union Center have dragged on for YEARS. The retail corridor program has brought almost no new business to the CBD. There's still no true master plan.
Despite Florida absolutely booming since the pandemic, the only substantial investment in downtown Jax under her watch has come from local developers like VyStar, Corner Lot, JWB, Vestcor, and Iguana.
Keep her in the DIA to work on legislation and to green stamp 75% REV grants after 12 months of glacial negotiations if you want, but this job demands someone with a proven track record of revitalizing major urban areas elsewhere in America. Depressing to think what the guy from Kansas City could have done had we gone thought big instead of small when filling the position.
I agree wholeheartedly. I'm beginning not to like Lori Boyer and/or the DIA.
QuoteI expect other projects may die, too, like the Hardwick and the tower for the Landing property.
The Landing tower is already dead, but that was obvious from the get go. The per unit cost was way too high for that to work in Jacksonville. It's not going forward as apartments, but will hopefully come back as a hotel or other use.
Quote from: heights unknown on January 26, 2023, 10:10:20 AMI agree wholeheartedly. I'm beginning not to like Lori Boyer and/or the DIA.
I don't dislike her at all.
I quite like her personally, and I think she's a good asset for the DIA to have for some of that work in the Northbank core that Vic is referencing.
But in terms of leading the downtown charge and helping Jacksonville finally fulfill its potential, especially on the riverfront, I think we need someone with an actionable, efficient vision, a proven track record of turning a major metro's downtown around, and a rolodex (e.g. iPhone) full of national and international investors and developers on speed dial. To use a Jags reference, we need a Howie Roseman, not a Gene Smith.
We can't afford to spin our wheels for another ten years.
As a Dad, it's depressing to think that 9 years ago, I thought to myself, "I can't wait to enjoy the downtown riverfront with my daughter when she's 8 or 9." Nearly a decade later, I'll be lucky if we activate our riverfront by the time she leaves for college. These are the real-world consequences to citizens as we watch demolition after demolition and failed RFP after failed RFP. Definition of insanity is for this DIA to keep doing what they're doing.
Brooklyn's doing just fine. San Marco's doing just fine. Riverside is doing just fine. The Town Center is doing just fine. The Beaches are doing just fine. The ex-urbs are doing just fine. Meanwhile, action on our riverfront has just dragged on for years and years and years with nothing vertical to show for it except 80 acres of brownfields and some conceptual plans to build a whole lot of low-cost parks for quarters on the dollars.
"To your original question, projects fall through, developers back out, and incentive packages expire. That's fine on occasion. But if you're leading the charge for downtown revitalization in a major Top 40 city during a historic population boom, you've got to be able to close some of these deals, carry them through to construction in a timely fashion, and attract investment from outside of Jacksonville. And in four years, that just hasn't happened as much as it should have.
We're just spinning our wheels, particularly on the riverfront, while cities like Nashville, Atlanta, Tampa, and Orlando just keep building."
SHE'S IN OVER HER HEAD AND IT APPEARS THAT SHE HAS LITTLE TO NO VISION LET ALONE POOR ORGANIZATIONAL AND MANAGEMENT SKILLS FOR A TOP 40 MAJOR CITY WHICH IS BOOMING IN POPULATION. SHE NEEDS TO BE LET GO.
Yea, clearly we're not learning here. don't demolish something until the developer is truly breaking ground.
Look, RCBC wasn't some award-winning restaurant. But it's more vibrant than what's there now.
I don't mind the development fell through - let's be real, this development wasn't transformative. But it's an example that we just can't seem to learn.
Quote from: Captain Zissou on January 26, 2023, 10:17:11 AM
QuoteI expect other projects may die, too, like the Hardwick and the tower for the Landing property.
The Landing tower is already dead, but that was obvious from the get go. The per unit cost was way too high for that to work in Jacksonville. It's not going forward as apartments, but will hopefully come back as a hotel or other use.
I never thought that project would work, but has it officially been canceled? I don't remember that.
Quote from: heights unknown on January 25, 2023, 06:58:19 PM
Quote from: JaGoaT on January 25, 2023, 06:23:15 PM
A BIGGER AND BETTER OPPORTUNITY IS ABOUT TO PRESENT ITSELF
Really now? Do you know something that we don't? So.......why don't you NOT TELL US ABOUT IT.
(https://hips.hearstapps.com/hmg-prod/images/al-pacino-sits-in-a-chair-in-a-scene-from-the-film-the-news-photo-1635770483.jpg)
So Boyer says a better project could result from this deal failure. If so, why didn't DIA insist on the "better project" to begin with? She is basically admitting they approved a lesser quality project just to get something through. Another example of the City having no backbone to insist on high quality profile projects for Downtown (or anywhere else for that matter). Development for the sake of development.
More details in this article...
QuoteA subsidiary of Related Group will remain in control of the former city-owned Southbank site of River City Brewing Co. after the Downtown Investment Authority canceled a deal with the Miami-based developer to build a 326-unit apartment.
Related acquired the 3.02-acre property from the city in August 2021 when it bought the restaurant's leasehold for $10 million.
DIA CEO Lori Boyer notified Related executives in a letter Jan. 11 that it was terminating its redevelopment agreement for failing to meet performance benchmarks in the deal.
City Council approved the deal in May 2021
Boyer said Jan. 26 said it was "premature" for the city and DIA to exercise the option in the redevelopment agreement to repurchase the site from Related Group, which she said would cost the city nearly $11 million.
According to Boyer, Related recently informed DIA that it is redesigning the project and could consider building a high-rise residential complex instead.
She said he expects the new project to be submitted to DIA in spring 2023.
"I think we should look at their new plans first," Boyer said.
"We're disappointed that this particular project didn't get off the ground before interest rates were higher, but ultimately it could be a win," Boyer said.
"We could end up with a better project."
The city's $18.27 million redevelopment agreement with the Related subsidiary did not automatically return ownership of the land to the city if the site was not developed, but it does allow the city to repurchase it.
Boyer said that would include Related's $10 million cost for the leasehold buyout plus the value of the city's remaining interest in the land when it was acquired by the developer.
River City Brewing Co.'s parent company, Maritime Concepts LLC, completed the $10 million transaction with Related in August 2021 to buy out the restaurant's leasehold with the city on a 3.34-acre property.
The developer bought the remaining 76 years of a 99-year land lease with the city from Maritime Concepts.
Related deeded back nearly 0.33-acre of the original restaurant site to the city to increase the size of St. Johns River Park and the Southbank Riverwalk that runs adjacent to the property.
With the deal canceled, Related will not receive the $12.99 million property tax refund or the $1 million in project completion grants for a proposed park-front restaurant and site infrastructure work.
The remaining money in the agreement was for improvements to the 29-slip public marina; increased maintenance on the adjacent park; and the city lease revenue loss. Those were considered incentives to build the apartment complex.
Plans called for an eight-story apartment building, a 511-space attached parking garage and a park-front restaurant.
Related and the city executed the development agreement in June 2021.
Boyer said she asked Related whether it intended to put the property back on the market.
"They said no. They have way too much invested in it," she said.
A representative for Related did not immediately return requests for comment Jan. 26 on the contract cancellation or the company's plans for the property.
Related Group contracted Jacksonville-based ELEV8 to demolish the two-story River City Brewing Co. restaurant building for $110,000 completed in late 2022.
The developer had also started the city's permitting process to build the mid-rise apartment building and had received final design approval from the Downtown Development Review Board.
Boyer's letter to Related Development LLC Vice President Jeffery Robbins and RD River City Brewery LLC President Steve Patterson said the DIA supported the company's desire to redesign the project.
The letter said the existing apartment plan is not financially viable in the current economic market.
"Following my agreement to several extensions to the Performance Schedule, we both acknowledged that the Performance Schedule would neither be met as required, nor could it be within a reasonable cure period since due to changes in market conditions the current project is not economically feasible in the immediate future."
As to the economic viability of a residential or mixed-use tower on the property, Boyer said adding more units to the site could allow Related to control its cost per unit.
Boyer said "she didn't want to guess" on what the city's timeline or strategy would be to repurchase the property if it sits idle.
"If all the other developments on the riverfront are moving forward and getting financing, then there is no reason this project shouldn't be moving forward," she said.
River City Brewing Co. co-owners Anthony Candelino and Eugene Van closed the restaurant July 18, 2021, after operating the business for 27 years.
Related was founded in 1979 by Chairman and CEO Jorge M. Perez. The development company's focus is Southeast Florida with an emphasis on luxury high-rise condominiums.
The company lost a bid in February 2020 to redevelop the former Jacksonville City Hall and Duval County Courthouse site on the Downtown Northbank that now is under contract for development by Atlanta-based Carter.
https://www.jaxdailyrecord.com/news/2023/jan/26/dia-ceo-related-group-not-planning-to-sell-river-city-brewing-site-despite-canceled-deal/
I wouldn't get my hopes up too high with this one. Any outcome of something advancing to construction in the near term (i.e. by 2024) on this site is highly unlikely. Related has no good reason to sell the property and reworking a plan means starting the process over when it comes to financing, DDRB, permitting, negotiating incentives, etc.
Quote from: thelakelander on January 26, 2023, 11:04:56 PM
I wouldn't get my hopes up too high with this one. Any outcome of something advancing to construction in the near term (i.e. by 2024) on this site is highly unlikely. Related has no good reason to sell the property and reworking a plan means starting the process over when it comes to financing, DDRB, permitting, negotiating incentives, etc.
And, we will have a new mayor, council and staff so maybe they get their act together and change tact on approving every deal that comes along without regard to the quality of the project or the rules the City has for incentivizing and locating them. If anyone but Davis wins, I expect a wholesale change at DIA and more.
On the bright side, a grass lawn on the Southbank is a suitable match for Lenny's Lawn on the Northbank. As I said before. Make Related grass it over, and shift the city's focus to the Hemming Plaza area. Once MOSH moves a land swap with Related might work. MOSH is a single purpose building and too low density for that site anyway.
It's a real damn shame that during the economic boom before COVID, we literally went the opposite direction in DT growth. Demo'd the Courthouse, Landing, Berkman and RCBC. We got a low-rise apt, FIS and a JEA building to name a few while other cities, for example in FL, Tampa & Orlando, have seen such a renaissance of growth, development and major projects blossom. Just sucks how we are falling even further behind.
It's crazy how we just can't get our act together on anything. This is 2000s all over again for Jacksonville. Lots of proposed projects and developments ready to go, and boom, they all fall through.
^The double whammy comes not just with the demolitions, but with the precious city/DIA dollars wasted just to subtract from the urban fabric.
The tragedy isn't just that we allowed an active riverfront restaurant in a strategically important location to be demolished years before it needed to be.
The other half of the tragedy is that if Related doesn't decide to move forward with the project, we are going to have to pay $11 MILLION from our downtown development coffers just to buy back the vacant land where said vibrant restaurant once stood.
Just like we ended up paying more to demolish the Landing and buy out its owner than we budgeted to build the park to replace it.
The demolitions don't just result in lost opportunity cost for repurposing those structures, but they also result in the lost opportunity cost inherent in dumping tens of millions of limited taxpayer dollars into activity that results in no net-new gain for Downtown Jacksonville.
tl;dr:
(https://media.tenor.com/kkyyEBp3ZiUAAAAC/money-fire.gif)
^ Additional economic losses come from not collecting rents on the lease with River City Brewing. I assume those stopped when the land was "sold" to Related. I hope it goes on the tax rolls for at least $11 million, equal to the buyback price, in value so the City can at least collect some decent tax revenue on it and maybe motivate Related to move forward with a plan soon than later.
There's no doubt the loss of RCBC is a waste in light of this news. Is it naive to think, though, that now that the demo is complete and can't be undone -- that Related as a landowner is better than the city? Pragmatically -- forget even the repurchase price -- what has the DIA shown us thus far to suggest a repo and RFP would yield superior results or ROI relative to whatever Related may cook up in the indeterminate future?
Realistically, we should try to encourage them grassing it (as others suggested) and expand events like Sip and Stroll out there, to include more vendors and have it be a low-grade park adjacent to the fountain. For that matter, dedicating a few bucks to security at this site and Lenny's Lawn and waiving open container laws on select days could encourage some picnicking and marginal activity in otherwise desolate spaces. People will find a way to enjoy the riverfront if you let them. Lease the land back for a dollar a year, pay for basic upgrades and security...yeah, the taxpayers got hosed, but at least let us use the space in exchange. The repurchase right should give us SOME leverage if Related won't play ball.
That land has always been public park property. At least when the city was leasing the land to river city brewing company the public could go there any time they wanted too. It seams like developers is figuring out ways to take that land away from us.
Quote from: JaGoaT on January 26, 2023, 12:22:02 PM
Quote from: heights unknown on January 25, 2023, 06:58:19 PM
Quote from: JaGoaT on January 25, 2023, 06:23:15 PM
A BIGGER AND BETTER OPPORTUNITY IS ABOUT TO PRESENT ITSELF
Really now? Do you know something that we don't? So.......why don't you NOT TELL US ABOUT IT.
(https://hips.hearstapps.com/hmg-prod/images/al-pacino-sits-in-a-chair-in-a-scene-from-the-film-the-news-photo-1635770483.jpg)
https://www.bizjournals.com/jacksonville/news/2023/01/26/river-city-brewing-redevelopment-stalls-could-see.html
So it is a solid...."Perhaps" by spring. I think what really grinds my gears is that everyone is in such a dang hurry to tear stuff down, with absolutely no, none, zip, zero repercussions for taking a pause once the old building stock is gone. The supply chain issues were an issue before the building came down. Why did the building have to come down?
City owned land leases in my opinion are terrible, I still remember when the city was on the hook for fixing that stupid building because it had termites when it was harbormasters. SO I am not necessarily saddened by the loss of that building, but it is just insane how much of our building stock gets torn down and then we get to look at foundations for a few decades, or if we are lucky, they pave over the foundations and just make it a parking lot illegally.
Yeah, I know, I don't have a good answer, I am just incredibly frustrated at the absolute lack of leadership I am seeing in this city.
Quote from: Houseboat Mike on January 30, 2023, 12:18:59 PM
So it is a solid...."Perhaps" by spring.
That was usually the response I got when I asked a girl out in High School.
My guess is the chances of a "Yes" in the spring for either this project or my High School dating prospects are about the same.
Quote from: jaxoNOLE on January 28, 2023, 01:29:06 AM
Realistically, we should try to encourage them grassing it (as others suggested) and expand events like Sip and Stroll out there, to include more vendors and have it be a low-grade park adjacent to the fountain. For that matter, dedicating a few bucks to security at this site and Lenny's Lawn and waiving open container laws on select days could encourage some picnicking and marginal activity in otherwise desolate spaces. People will find a way to enjoy the riverfront if you let them. Lease the land back for a dollar a year, pay for basic upgrades and security...yeah, the taxpayers got hosed, but at least let us use the space in exchange. The repurchase right should give us SOME leverage if Related won't play ball.
Related controls the land now and has no plans to sell. Without a doubt, they'll come back with an alternative plan and ask for millions in incentives. The question is if that happens within the next year, years or a decade from now?
When it comes to them allowing the public on their property, who is responsible for the liability associated with that? When it comes with greening the property, who is responsible for paying to tear up the parking lot, remove various utilities, level and sod the property for a temporary use? I find it hard to believe that Related would cover any of those costs or assume the liability of people getting hurt on the property. IMO, it will likely stay in its current condition for the foreseeable future.
^ If not already, they may put up a "beautiful" chain link fence to insure no one trespasses on their property. I wonder if the City included a provision for maintaining it as a vacant lot. Can you say "eyesore" for years like the unfinished Berkman was?
The City CAN buy the property right now for $11 mm though, right? If so, how long is that option available?
No, the city can't force Related to sell it back. However, if Related wants to sell, the city can buy it back for that price.
Quote from: thelakelander on January 31, 2023, 10:41:17 AM
No, the city can't force Related to sell it back. However, if Related wants to sell, the city can buy it back for that price.
Does Related have the right to sell to someone else, or must it sell to the city if it parts with the property?
I'm not sure. However, they have stated that they don't intend to sell the property to the city or anyone else.
There were a few construction trucks out there today. Note sure what they were doing as they were wrapping up when I got to the boat ramp.
Quote from: Ken_FSU on January 26, 2023, 12:55:06 AM
Quote from: thelakelander on January 25, 2023, 10:55:18 PM
Quote from: Ken_FSU on January 25, 2023, 07:28:45 PM
Lori Boyer isn't the right fit to lead the DIA.
I'm not making an argument either way about the DIA but wondering what your thoughts would be.
I you were in her position, how would you go about resolving the core Related project issue (project not being economically feasible) that appears to have killed it? More extensions? Additional city incentives?
My frustration is less with the project itself falling through, and more with Lori Boyer and the DIA cheerfully going along with the demolition of one of our few remaining riverfront restaurants years before the project was set to break ground.
It's a pattern of destruction and ineptitude we've seen time and time again from Lori Boyer - making near unilateral decisions, with real consequences to downtown vibrancy, based on her own shoddy hunches.
For the Related project, let's not forget that she was fine with letting Related develop the project with no restaurant whatsoever, citing her belief that the apartments might result in a random "fish camp" opening up nearby in an undisclosed location. Oliver Barakat is the one who went to bat for the inclusion of the restaurant. The DIA allowed the 77-year lease to be transferred to Related and River City to be torn down, with limited assurances from Related that the project would actually break ground.
For the Landing, Lori Boyer again definitively stated that if we knock down the Landing immediately and clear out those 30 businesses adding vibrancy to the CBD, the RFP would be much more attractive to private development. So, we rushed to tear down the Landing, got one response to the RFP, and years later, we're no closer to private development.
For the Landing Park, Lori Boyer picked the winning firm, by her own words, because of the "JAX" art installation. As soon as the public started bashing the statue, she claims that it might not even end up in the park, making a total mockery of the RFP process and invalidating the entire reason P+W was chosen to design the Landing Park.
Ford on Bay is on its 3rd RFP, and doesn't appear anywhere close to breaking ground. Despite claiming during the RFP process that she would favor a firm willing to get to work immediately, the timelines for this one stretch out years into the future as well, with substantial changes already being made to the winning bid.
Ditto Berkman 2.
Lori Boyer seems to have unilaterally decided that the site of our current jail is the best place for a convention center - a proclamation not backed by any formal study that's publicly available, and one that's going to add 20 years and a billion dollars to our convention center timeline.
She's allowed an illegal parking lot to operate on the old Greyhound bus site for several years under the ridiculous claim that a Miami developer is going to build an 80-story tower on the site. She doesn't seem to know what a master plan actually is, and remains steadfastly committed to this bloated 10,000-resident magic bullet.
The Friendship Fountain renovation project was supposed to be finished in 2021; the park remains roped off.
To your original question, projects fall through, developers back out, and incentive packages expire. That's fine on occasion. But if you're leading the charge for downtown revitalization in a major Top 40 city during a historic population boom, you've got to be able to close some of these deals, carry them through to construction in a timely fashion, and attract investment from outside of Jacksonville. And in four years, that just hasn't happened as much as it should have.
We're just spinning our wheels, particularly on the riverfront, while cities like Nashville, Atlanta, Tampa, and Orlando just keep building.
AMEN to basically all of this. One of biggest pet peeves since moving back has been this fixation on the 10K residents (now units) number. I'm glad someone else has said it!
I'll just add this as a mayoral campaign plug - Jacksonville has a bad reputation outside of itself, so attracting outside money is pretty difficult. We've had many botched RFPs now (each one costs competing firms sometimes significant money in pursuit costs). We have a "network" of locals who get taken care of at everyone else's obvious loss or missed opportunity.
If Dan Davis wins, our bad "good ole boy" reputation with the corruption that ensues will just continue. I'm not saying I want Donna Deegan, a Democrat, who cried the day Andrew Gillum lost and Ron DeSantis won, to be our mayor. But I sure as hell don't want Davis either. I'll leave the rest to imagination :D
QuoteI'll just add this as a mayoral campaign plug - Jacksonville has a bad reputation outside of itself, so attracting outside money is pretty difficult. We've had many botched RFPs now (each one costs competing firms sometimes significant money in pursuit costs). We have a "network" of locals who get taken care of at everyone else's obvious loss or missed opportunity.
Downtown Jax's biggest problem is that its used essentially as an ATM for the politically connected.
It is not a free market in any way shape or form.
QuoteIf Dan Davis wins, our bad "good ole boy" reputation with the corruption that ensues will just continue. I'm not saying I want Donna Deegan, a Democrat, who cried the day Andrew Gillum lost and Ron DeSantis won, to be our mayor. But I sure as hell don't want Davis either. I'll leave the rest to imagination :D
LOL. Deegan deserves credit for appreciating the kind of governor DeSantis would be. Probably a lot more have cried over his election since then :'(.
Quote from: jaxlongtimer on February 03, 2023, 05:51:27 PM
QuoteIf Dan Davis wins, our bad "good ole boy" reputation with the corruption that ensues will just continue. I'm not saying I want Donna Deegan, a Democrat, who cried the day Andrew Gillum lost and Ron DeSantis won, to be our mayor. But I sure as hell don't want Davis either. I'll leave the rest to imagination :D
LOL. Deegan deserves credit for appreciating the kind of governor DeSantis would be. Probably a lot more have cried over his election since then :'(.
And even more are overjoyed. Count me in as one of those. The man just took Miami Dade County for Pete's sake. Those who are horrified seem to be white liberals who have a lot of white guilt.
The good news is that for those out there with such guilt hanging over their heads, LeAnna is a) that nearly all encompassing person of color designation (with a name like Gutierrez and a Pakistani man named Hussein as her husband), and b) a woman. She would be tons of "firsts" for Jacksonville. I obviously know it doesn't work that way. If she were a liberal democrat then these things would be played up and assuage the white guilt that many white liberals have, but since she's a conservative republican they won't help her with this crowd.
She's definitely someone who will shake up the Good Old Boy system and that is why they are coming after her so hard. I hope she wins.
She must think her Cuban heritage will help the way she is emphasizing it in her campaign ads. I had no idea until her ads started running.
And it seems [Davis] PAC is using her husband's name as a negative in their attack ads. Sort of like the MAGA crowd emphasized Pres. Obama's middle name. (ooooh scary Middle Eastern name oooooh)
Quote from: simms3 on February 06, 2023, 01:24:11 PM
Quote from: jaxlongtimer on February 03, 2023, 05:51:27 PM
QuoteIf Dan Davis wins, our bad "good ole boy" reputation with the corruption that ensues will just continue. I'm not saying I want Donna Deegan, a Democrat, who cried the day Andrew Gillum lost and Ron DeSantis won, to be our mayor. But I sure as hell don't want Davis either. I'll leave the rest to imagination :D
LOL. Deegan deserves credit for appreciating the kind of governor DeSantis would be. Probably a lot more have cried over his election since then :'(.
And even more are overjoyed. Count me in as one of those. The man just took Miami Dade County for Pete's sake. Those who are horrified seem to be white liberals who have a lot of white guilt.
The good news is that for those out there with such guilt hanging over their heads, LeAnna is a) that nearly all encompassing person of color designation (with a name like Gutierrez and a Pakistani man named Hussein as her husband), and b) a woman. She would be tons of "firsts" for Jacksonville. I obviously know it doesn't work that way. If she were a liberal democrat then these things would be played up and assuage the white guilt that many white liberals have, but since she's a conservative republican they won't help her with this crowd.
She's definitely someone who will shake up the Good Old Boy system and that is why they are coming after her so hard. I hope she wins.
is
Why should a liberal support someone just because of their race, when they don't share their beliefs, and in fact hold the opposite beliefs??
The only 'white guilt' that SHOULD exist is that of DeSantis lovers that believe that history shouldn't be taught as it happened, but as sanitized mythology.
As for Cumber, hasn't the Davis campaign been the one doing the attacking?
Quote from: vicupstate on February 06, 2023, 07:57:27 PM
As for Cumber, hasn't the Davis campaign been the one doing the attacking?
Cumber has done more attacking than Davis, thus far.
And she has to, if she wants to win.
The first negative ad I saw was one from the Davis camp. He cried Friday with his police buddies at a new conference when Cumber got down in the mud with Davis. I hope both of these buffoons lose, especially Curry.2 Davis.
Quote from: thelakelander on January 30, 2023, 12:58:15 PM
Quote from: jaxoNOLE on January 28, 2023, 01:29:06 AM
Realistically, we should try to encourage them grassing it (as others suggested) and expand events like Sip and Stroll out there, to include more vendors and have it be a low-grade park adjacent to the fountain. For that matter, dedicating a few bucks to security at this site and Lenny's Lawn and waiving open container laws on select days could encourage some picnicking and marginal activity in otherwise desolate spaces. People will find a way to enjoy the riverfront if you let them. Lease the land back for a dollar a year, pay for basic upgrades and security...yeah, the taxpayers got hosed, but at least let us use the space in exchange. The repurchase right should give us SOME leverage if Related won't play ball.
Related controls the land now and has no plans to sell. Without a doubt, they'll come back with an alternative plan and ask for millions in incentives. The question is if that happens within the next year, years or a decade from now?
When it comes to them allowing the public on their property, who is responsible for the liability associated with that? When it comes with greening the property, who is responsible for paying to tear up the parking lot, remove various utilities, level and sod the property for a temporary use? I find it hard to believe that Related would cover any of those costs or assume the liability of people getting hurt on the property. IMO, it will likely stay in its current condition for the foreseeable future.
Well I guess the question is moot, as I didn't realize that the repurchase right was only if Related
chooses to sell.
But hypothetically, if the city had secured the right to reclaim the property, it should give them leverage to secure some sort of interim deal. What's mind boggling, but for the fact it's happened many times before, is that we build ZERO real back-end accountability or levers into these tear-down deals. There's no way to reclaim what's been lost, but there must be some conditions that can be placed into future deals to prevent developers sitting on undeveloped property that was conveyed under the pretense of a DIA deal, no?
Quote from: simms3 on February 06, 2023, 01:24:11 PM
Quote from: jaxlongtimer on February 03, 2023, 05:51:27 PM
QuoteIf Dan Davis wins, our bad "good ole boy" reputation with the corruption that ensues will just continue. I'm not saying I want Donna Deegan, a Democrat, who cried the day Andrew Gillum lost and Ron DeSantis won, to be our mayor. But I sure as hell don't want Davis either. I'll leave the rest to imagination :D
LOL. Deegan deserves credit for appreciating the kind of governor DeSantis would be. Probably a lot more have cried over his election since then :'(.
And even more are overjoyed. Count me in as one of those. The man just took Miami Dade County for Pete's sake. Those who are horrified seem to be white liberals who have a lot of white guilt.
The good news is that for those out there with such guilt hanging over their heads, LeAnna is a) that nearly all encompassing person of color designation (with a name like Gutierrez and a Pakistani man named Hussein as her husband), and b) a woman. She would be tons of "firsts" for Jacksonville. I obviously know it doesn't work that way. If she were a liberal democrat then these things would be played up and assuage the white guilt that many white liberals have, but since she's a conservative republican they won't help her with this crowd.
She's definitely someone who will shake up the Good Old Boy system and that is why they are coming after her so hard. I hope she wins.
LOL, "white guilt"? The lady doth protest too much, methinks.
Quote from: jaxoNOLE on February 06, 2023, 09:40:26 PM
Quote from: thelakelander on January 30, 2023, 12:58:15 PM
Quote from: jaxoNOLE on January 28, 2023, 01:29:06 AM
Realistically, we should try to encourage them grassing it (as others suggested) and expand events like Sip and Stroll out there, to include more vendors and have it be a low-grade park adjacent to the fountain. For that matter, dedicating a few bucks to security at this site and Lenny's Lawn and waiving open container laws on select days could encourage some picnicking and marginal activity in otherwise desolate spaces. People will find a way to enjoy the riverfront if you let them. Lease the land back for a dollar a year, pay for basic upgrades and security...yeah, the taxpayers got hosed, but at least let us use the space in exchange. The repurchase right should give us SOME leverage if Related won't play ball.
Related controls the land now and has no plans to sell. Without a doubt, they'll come back with an alternative plan and ask for millions in incentives. The question is if that happens within the next year, years or a decade from now?
When it comes to them allowing the public on their property, who is responsible for the liability associated with that? When it comes with greening the property, who is responsible for paying to tear up the parking lot, remove various utilities, level and sod the property for a temporary use? I find it hard to believe that Related would cover any of those costs or assume the liability of people getting hurt on the property. IMO, it will likely stay in its current condition for the foreseeable future.
Well I guess the question is moot, as I didn't realize that the repurchase right was only if Related chooses to sell.
But hypothetically, if the city had secured the right to reclaim the property, it should give them leverage to secure some sort of interim deal. What's mind boggling, but for the fact it's happened many times before, is that we build ZERO real back-end accountability or levers into these tear-down deals. There's no way to reclaim what's been lost, but there must be some conditions that can be placed into future deals to prevent developers sitting on undeveloped property that was conveyed under the pretense of a DIA deal, no?
The city does have some leverage to withhold funds, but that just delays the project more. They don't have leverage to push the project forward faster, which is what they really need.