Expect DIA to brag on this project if it ever materializes... tallest building between Atlanta and Miami in downtown Jacksonville?
QuoteDeveloper's planned condo tower would be the tallest building in Downtown Jacksonville
Cross Regions Group is working with the DIA to determine how to move forward with the project.
(https://media.yourobserver.com/img/photos/2024/07/24/Ergisi_Tower_cross_regions_downtown_t1100.jpg?31a214c4405663fd4bc7e33e8c8cedcc07d61559)
What was once a parking lot Downtown is planned to become high-rise condos, a Jacksonville developer said July 24.
Meetings between Cross Regions Group and the Downtown Investment Authority on the project began about a year ago and are ongoing.
The developer said the high-rise, planned at a parking lot between the former Jacksonville Landing and the Hyatt Regency Jacksonville Riverfront garage, would be the tallest building between Atlanta and Miami at 720 feet. The Bank of America Tower about three blocks away is 617 feet tall.
The plan includes 320 units and 35,000 square feet of restaurant/retail space, the developer told the Daily Record. The city owns the 1.6-acre land.
(https://media.yourobserver.com/img/photos/2024/07/24/Cross_Region_Coastline_Drive_East_Tower_11_t850.jpg?94beabde1e982a4eee8f83697e93b1d92468de7c)
Cross Regions told the DIA board July 24 at a public workshop regarding waterfront properties that it hopes to avoid the request for proposal process and work directly with the DIA on a deal for the site. It plans to request a Recapture Enhanced Value grant of an unspecified amount to help fund the project but does not intend to pursue a completion grant.
A project cost is not specified.
Attorney Thomas Ingram of Sodl & Ingram, who represents Cross Regions, said the developer hasn't decided whether to request the land at no cost.
Ingram said Cross Regions selected the site because of its "iconic" status.
(https://media.yourobserver.com/img/photos/2024/07/24/Cross_Region_Coastline_Drive_East_Tower_3_t850.jpg?94beabde1e982a4eee8f83697e93b1d92468de7c)
Doug Smith, Cross Regions chief operating officer, said "There is much work to be done" to move forward on the project based on site constraints, including the removal of the easternmost Main Street Bridge ramp leading to Newnan Street because of the Florida Department of Transportation 50-foot setback requirements.
The FDOT estimated the cost to remove the ramp was $3.3 million in 2020. The DIA estimates it could cost $5 million and said it is unclear who is responsible for paying.
There is also a large JEA sewer line running parallel to the St. Johns River that might need to be relocated. DIA is working to determine how long that could take and for how much.
Smith said other partners will be involved as the project unfolds.
KBJ Architects Inc. of Jacksonville is the architect. Raleigh, North Carolina-based Kimley-Horn is the engineer.
DIA Board Chair Patrick Krechowski directed DIA CEO Lori Boyer to schedule a special workshop on Cross Regions' plans in August.
Cross Regions is the developer of the Fountains at St. Johns, a 100-acre, mixed-use development anchored by an Ascension St. Vincent's Health Center.
(https://media.yourobserver.com/img/photos/2024/07/24/DIA_riverfront_sites_t850.jpg?94beabde1e982a4eee8f83697e93b1d92468de7c)
It is also the site of several restaurants, a 247-unit apartment community, a Jacksonville University campus and planned developments including a Home2 Suites by Hilton and the TyMe Cancer Research Institute. The 30,000-square-foot institute was awarded about $600,000 in St. Johns County incentives on July 16.
The Cross Regions site is east of another property the DIA is trying to find a developer for. That site in Riverfront Plaza, the former Jacksonville Landing, includes a city park now under construction.
Boyer said a plan by American Lions to build an apartment tower there was found to be financially not feasible.
https://www.jaxdailyrecord.com/news/2024/jul/24/former-jacksonville-landing-parking-lot-could-become-high-rise-condos/
I'll see your Cross Regions tower, and raise you a Seaglass Tower:
https://www.jacksonville.com/story/news/2013/12/13/1000-foot-high-observation-tower-envisioned-help-develop-shipyards/15805799007/
1000 feet or bust.
^ Yes, and there is this at the end of the article...
QuoteThe Cross Regions site is east of another property the DIA is trying to find a developer for. That site in Riverfront Plaza, the former Jacksonville Landing, includes a city park now under construction.
Boyer said a plan by American Lions to build an apartment tower there was found to be financially not feasible.
No go. Renderings not flashy enough. They clearly don't understand Jax. 8)
Quote from: jaxoNOLE on July 24, 2024, 09:18:42 PM
No go. Renderings not flashy enough. They clearly don't understand Jax. 8)
Yeah, we are NOT MIAMI, but, this is more like it, need 4 more towers of this height (ain't my call sign "heights unknown?"); it ain't built yet?
Jacksonville already has the tallest building between Miami and Atlanta. Tampa, Orlando, Ft. Lauderdale, West Palm Beach, and St. Pete all have height restrictions from the FAA, so there isn't even a competition.
Quick! Add it to the DVI Pipeline report!
And to be on the bleeding tech edge ... the U2C pods can drive into the building and become elevators!
The World Will Beat a Path to Jax!!
Legacy!!!
Quote from: CityLife on July 24, 2024, 10:09:20 PM
Jacksonville already has the tallest building between Miami and Atlanta. Tampa, Orlando, Ft. Lauderdale, West Palm Beach, and St. Pete all have height restrictions from the FAA, so there isn't even a competition.
So what you're saying is that Jacksonville towers over the competition...
Quote from: jaxlongtimer on July 24, 2024, 08:07:02 PM
Expect DIA to brag on this project if it ever materializes... tallest building between Atlanta and Miami in downtown Jacksonville?
QuoteDeveloper's planned condo tower would be the tallest building in Downtown Jacksonville
Cross Regions Group is working with the DIA to determine how to move forward with the project.
(https://media.yourobserver.com/img/photos/2024/07/24/Ergisi_Tower_cross_regions_downtown_t1100.jpg?31a214c4405663fd4bc7e33e8c8cedcc07d61559)
What was once a parking lot Downtown is planned to become high-rise condos, a Jacksonville developer said July 24.
Meetings between Cross Regions Group and the Downtown Investment Authority on the project began about a year ago and are ongoing.
The developer said the high-rise, planned at a parking lot between the former Jacksonville Landing and the Hyatt Regency Jacksonville Riverfront garage, would be the tallest building between Atlanta and Miami at 720 feet. The Bank of America Tower about three blocks away is 617 feet tall.
The plan includes 320 units and 35,000 square feet of restaurant/retail space, the developer told the Daily Record. The city owns the 1.6-acre land.
(https://media.yourobserver.com/img/photos/2024/07/24/Cross_Region_Coastline_Drive_East_Tower_11_t850.jpg?94beabde1e982a4eee8f83697e93b1d92468de7c)
Cross Regions told the DIA board July 24 at a public workshop regarding waterfront properties that it hopes to avoid the request for proposal process and work directly with the DIA on a deal for the site. It plans to request a Recapture Enhanced Value grant of an unspecified amount to help fund the project but does not intend to pursue a completion grant.
A project cost is not specified.
Attorney Thomas Ingram of Sodl & Ingram, who represents Cross Regions, said the developer hasn't decided whether to request the land at no cost.
Ingram said Cross Regions selected the site because of its "iconic" status.
(https://media.yourobserver.com/img/photos/2024/07/24/Cross_Region_Coastline_Drive_East_Tower_3_t850.jpg?94beabde1e982a4eee8f83697e93b1d92468de7c)
Doug Smith, Cross Regions chief operating officer, said "There is much work to be done" to move forward on the project based on site constraints, including the removal of the easternmost Main Street Bridge ramp leading to Newnan Street because of the Florida Department of Transportation 50-foot setback requirements.
The FDOT estimated the cost to remove the ramp was $3.3 million in 2020. The DIA estimates it could cost $5 million and said it is unclear who is responsible for paying.
There is also a large JEA sewer line running parallel to the St. Johns River that might need to be relocated. DIA is working to determine how long that could take and for how much.
Smith said other partners will be involved as the project unfolds.
KBJ Architects Inc. of Jacksonville is the architect. Raleigh, North Carolina-based Kimley-Horn is the engineer.
DIA Board Chair Patrick Krechowski directed DIA CEO Lori Boyer to schedule a special workshop on Cross Regions' plans in August.
Cross Regions is the developer of the Fountains at St. Johns, a 100-acre, mixed-use development anchored by an Ascension St. Vincent's Health Center.
(https://media.yourobserver.com/img/photos/2024/07/24/DIA_riverfront_sites_t850.jpg?94beabde1e982a4eee8f83697e93b1d92468de7c)
It is also the site of several restaurants, a 247-unit apartment community, a Jacksonville University campus and planned developments including a Home2 Suites by Hilton and the TyMe Cancer Research Institute. The 30,000-square-foot institute was awarded about $600,000 in St. Johns County incentives on July 16.
The Cross Regions site is east of another property the DIA is trying to find a developer for. That site in Riverfront Plaza, the former Jacksonville Landing, includes a city park now under construction.
Boyer said a plan by American Lions to build an apartment tower there was found to be financially not feasible.
https://www.jaxdailyrecord.com/news/2024/jul/24/former-jacksonville-landing-parking-lot-could-become-high-rise-condos/
Isn't Bank of America Tower Jax still the tallest building between Miami and Atlanta?
Yes, unless people are counting Sunny Isles Beach as separate from Downtown Miami.
Quote from: heights unknown on July 24, 2024, 11:57:04 PM
Isn't Bank of America Tower Jax still the tallest building between Miami and Atlanta?
Yep!
42 of the 45 tallest buildings in Florida are in Miami/Sunny Isles.
Tallest not in Miami is BOA Tower in Jax.
Tampa has the other two in the Top 45.
Fun fact:
Between 1900 and 1981, the title of "Tallest Building in Florida" changed hands 10 times.
5 of those buildings were in Jax.
Dyal-Upchurch in 1902.
121 Atlantic Place in 1910.
Florida Life in 1912.
Herald National Bank Building in 1913.
Independent Life Building in 1973.
It's good to see DIA focus on getting the little, basic street level things right and stop chasing pie in the sky mega projects. ::)
I realize it's a pre-conceptual rendering, but that thing looks hideous at the street level.
Media doing this one an injustice. This is no where close to breaking ground, so showing highly conceptual renderings and using text like "coming soon" will basically set people up for grand disappointment.
https://www.news4jax.com/news/local/2024/07/25/dia-developers-discuss-project-to-build-downtown-jacksonvilles-tallest-skyscraper/
They're used to renderings lol
If Jax' renderings within the past 30 years had all been built and come to fruition, we'd be looking more like Philadelphia; still way short and on a par with Miami, but "heavy skyscraper" density.
Quote from: thelakelander on July 25, 2024, 10:15:06 AM
Media doing this one an injustice. This is no where close to breaking ground, so showing highly conceptual renderings and using text like "coming soon" will basically set people up for grand disappointment.
https://www.news4jax.com/news/local/2024/07/25/dia-developers-discuss-project-to-build-downtown-jacksonvilles-tallest-skyscraper/
Agreed. There are a lot of potential issues with the media circulating renderings for a public project that hasn't even been RFP'd.
1. There does not have to be any kind of financial arrangement in place with the property owner (COJ) for a company like this to make a public pitch for a project.
2. It is cheap and easy to recycle images of existing or previously designed buildings and then use them produce low quality renderings like the ones currently used.
3. It is easy to get proposals from firms like Kimley Horn and KBJ and say that you are using them for engineering and architecture, but not actually release them to do the actual work.
4. Not saying this company is pursuing this project for this reason...but it is possible for a developer to publicly go after a project like this to elevate the name recognition and prestige of the company. Likely very few of us had heard of Cross Regions, but now they are immediately more well known in Jax. This could likely be used to help gain traction on other deals or appear more legitimate to lenders. Their portfolio appears to have nothing resembling a project like this. https://crossregions.com/properties/
5. Again, not saying this company is doing this....but developers write off losses for failed or abandoned projects all the time. It would be very easy to pursue publicly owned land with no deposit/escrow payment, spend a few bucks on legal fees and low level renderings, but then substantially overinflate the internal costs to pursue a project you know will never get off the ground. I know a savvy real estate developer that owns a CPA firm (not in Jax) and I think his real estate development business is just used to write off taxes from his CPA business.
6. With the amount of money that the DIA is throwing around, it's also easy and appealing for developers to put together a rudimentary design package and try to get the public behind a project to see if the DIA will over subsidize your project, like they do with others.
TLDR: It's very cheap, easy, and beneficial for developers to publicly shop renderings for public land they don't even have under contract. The DIA should require some money to be put in escrow (or pay a substantial review fee) so that public time and money isn't wasted on an American Lions like project again.
I remember developers proposing a tower with renderings for turning the old Greyhound station to a parking lot for a short period of time... still a parking lot.
Gonna cast a horrible shadow on the brand new River Front Park
Quote from: jcjohnpaint on July 25, 2024, 02:06:28 PM
I remember developers proposing a tower with renderings for turning the old Greyhound station to a parking lot for a short period of time... still a parking lot.
*Illegal parking lot.
Quote from: JaGoaT on July 25, 2024, 02:22:30 PM
Gonna cast a horrible shadow on the brand new River Front Park
Only early morning, and sometimes of the year it might be welcome.
All I can do is LOL
Pipe dream. Jax will figure out a way NOT TO GET IT BUILT. It will probably never be built.
Quote from: CityLife on July 25, 2024, 01:21:18 PM
Quote from: thelakelander on July 25, 2024, 10:15:06 AM
Media doing this one an injustice. This is no where close to breaking ground, so showing highly conceptual renderings and using text like "coming soon" will basically set people up for grand disappointment.
https://www.news4jax.com/news/local/2024/07/25/dia-developers-discuss-project-to-build-downtown-jacksonvilles-tallest-skyscraper/
Agreed. There are a lot of potential issues with the media circulating renderings for a public project that hasn't even been RFP'd.
1. There does not have to be any kind of financial arrangement in place with the property owner (COJ) for a company like this to make a public pitch for a project.
2. It is cheap and easy to recycle images of existing or previously designed buildings and then use them produce low quality renderings like the ones currently used.
3. It is easy to get proposals from firms like Kimley Horn and KBJ and say that you are using them for engineering and architecture, but not actually release them to do the actual work.
4. Not saying this company is pursuing this project for this reason...but it is possible for a developer to publicly go after a project like this to elevate the name recognition and prestige of the company. Likely very few of us had heard of Cross Regions, but now they are immediately more well known in Jax. This could likely be used to help gain traction on other deals or appear more legitimate to lenders. Their portfolio appears to have nothing resembling a project like this. https://crossregions.com/properties/
5. Again, not saying this company is doing this....but developers write off losses for failed or abandoned projects all the time. It would be very easy to pursue publicly owned land with no deposit/escrow payment, spend a few bucks on legal fees and low level renderings, but then substantially overinflate the internal costs to pursue a project you know will never get off the ground. I know a savvy real estate developer that owns a CPA firm (not in Jax) and I think his real estate development business is just used to write off taxes from his CPA business.
6. With the amount of money that the DIA is throwing around, it's also easy and appealing for developers to put together a rudimentary design package and try to get the public behind a project to see if the DIA will over subsidize your project, like they do with others.
TLDR: It's very cheap, easy, and beneficial for developers to publicly shop renderings for public land they don't even have under contract. The DIA should require some money to be put in escrow (or pay a substantial review fee) so that public time and money isn't wasted on an American Lions like project again.
Absolutely agree. I also wonder why they would choose this parcel when they're prepping a spot for this type of project right next door that won't have the utlility or ramp removal problems. They don't seriously intend for this to get built. This is pure marketing.
Quote from: Fallen Buckeye on July 26, 2024, 11:28:51 AM
Quote from: CityLife on July 25, 2024, 01:21:18 PM
Quote from: thelakelander on July 25, 2024, 10:15:06 AM
Media doing this one an injustice. This is no where close to breaking ground, so showing highly conceptual renderings and using text like "coming soon" will basically set people up for grand disappointment.
https://www.news4jax.com/news/local/2024/07/25/dia-developers-discuss-project-to-build-downtown-jacksonvilles-tallest-skyscraper/
Agreed. There are a lot of potential issues with the media circulating renderings for a public project that hasn't even been RFP'd.
1. There does not have to be any kind of financial arrangement in place with the property owner (COJ) for a company like this to make a public pitch for a project.
2. It is cheap and easy to recycle images of existing or previously designed buildings and then use them produce low quality renderings like the ones currently used.
3. It is easy to get proposals from firms like Kimley Horn and KBJ and say that you are using them for engineering and architecture, but not actually release them to do the actual work.
4. Not saying this company is pursuing this project for this reason...but it is possible for a developer to publicly go after a project like this to elevate the name recognition and prestige of the company. Likely very few of us had heard of Cross Regions, but now they are immediately more well known in Jax. This could likely be used to help gain traction on other deals or appear more legitimate to lenders. Their portfolio appears to have nothing resembling a project like this. https://crossregions.com/properties/
5. Again, not saying this company is doing this....but developers write off losses for failed or abandoned projects all the time. It would be very easy to pursue publicly owned land with no deposit/escrow payment, spend a few bucks on legal fees and low level renderings, but then substantially overinflate the internal costs to pursue a project you know will never get off the ground. I know a savvy real estate developer that owns a CPA firm (not in Jax) and I think his real estate development business is just used to write off taxes from his CPA business.
6. With the amount of money that the DIA is throwing around, it's also easy and appealing for developers to put together a rudimentary design package and try to get the public behind a project to see if the DIA will over subsidize your project, like they do with others.
TLDR: It's very cheap, easy, and beneficial for developers to publicly shop renderings for public land they don't even have under contract. The DIA should require some money to be put in escrow (or pay a substantial review fee) so that public time and money isn't wasted on an American Lions like project again.
Absolutely agree. I also wonder why they would choose this parcel when they're prepping a spot for this type of project right next door that won't have the utlility or ramp removal problems. They don't seriously intend for this to get built. This is pure marketing.
Damn, damn, damn!!!!!!!
Just look at this company's portfolio. It speaks for itself (or doesn't?).
Quote from: Fallen Buckeye on July 26, 2024, 11:28:51 AM
Quote from: CityLife on July 25, 2024, 01:21:18 PM
Quote from: thelakelander on July 25, 2024, 10:15:06 AM
Media doing this one an injustice. This is no where close to breaking ground, so showing highly conceptual renderings and using text like "coming soon" will basically set people up for grand disappointment.
https://www.news4jax.com/news/local/2024/07/25/dia-developers-discuss-project-to-build-downtown-jacksonvilles-tallest-skyscraper/
Agreed. There are a lot of potential issues with the media circulating renderings for a public project that hasn't even been RFP'd.
1. There does not have to be any kind of financial arrangement in place with the property owner (COJ) for a company like this to make a public pitch for a project.
2. It is cheap and easy to recycle images of existing or previously designed buildings and then use them produce low quality renderings like the ones currently used.
3. It is easy to get proposals from firms like Kimley Horn and KBJ and say that you are using them for engineering and architecture, but not actually release them to do the actual work.
4. Not saying this company is pursuing this project for this reason...but it is possible for a developer to publicly go after a project like this to elevate the name recognition and prestige of the company. Likely very few of us had heard of Cross Regions, but now they are immediately more well known in Jax. This could likely be used to help gain traction on other deals or appear more legitimate to lenders. Their portfolio appears to have nothing resembling a project like this. https://crossregions.com/properties/
5. Again, not saying this company is doing this....but developers write off losses for failed or abandoned projects all the time. It would be very easy to pursue publicly owned land with no deposit/escrow payment, spend a few bucks on legal fees and low level renderings, but then substantially overinflate the internal costs to pursue a project you know will never get off the ground. I know a savvy real estate developer that owns a CPA firm (not in Jax) and I think his real estate development business is just used to write off taxes from his CPA business.
6. With the amount of money that the DIA is throwing around, it's also easy and appealing for developers to put together a rudimentary design package and try to get the public behind a project to see if the DIA will over subsidize your project, like they do with others.
TLDR: It's very cheap, easy, and beneficial for developers to publicly shop renderings for public land they don't even have under contract. The DIA should require some money to be put in escrow (or pay a substantial review fee) so that public time and money isn't wasted on an American Lions like project again.
Absolutely agree. I also wonder why they would choose this parcel when they're prepping a spot for this type of project right next door that won't have the utlility or ramp removal problems. They don't seriously intend for this to get built. This is pure marketing.
The DIA just had a workshop and seemed less receptive to the prospect of a highrise at the Riverfront Plaza site. This particular lot east of the Main Street Bridge will eventually be RFP'd in conjunction with the Riverfront Plaza site so it will be developed at one point or another once the ramp comes down. It will be years down the road before anything gets done however
The most popular view of Jacksonville (from Friendship Fountain/Southbank) is not shown on the renderings. Yet they show the weird eastward view
Quote from: I-10east on July 27, 2024, 12:11:15 AM
The most popular view of Jacksonville (from Friendship Fountain/Southbank) is not shown on the renderings. Yet they show the weird eastward view
Good to see you, I-10! Feels like it's been a minute.
Quote from: Ken_FSU on July 27, 2024, 12:21:33 AM
Good to see you, I-10! Feels like it's been a minute.
Thanks Ken. I'll chime in every once in a while
The developer behind this idea profiled in the Daily Record today.
https://www.jaxdailyrecord.com/news/2024/oct/25/american-dreamer-why-developer-david-ergisi-keeps-aiming-higher/
Still sounds pretty outlandish, although I found this part interesting:
QuoteAlso adding complexity to the project, Ergisi plans to fund it partly through the federal EB-5 program, which allows foreign investors who fund development projects in the U.S. to move to the front of the line for green cards.
Ergisi also drew EB-5 funding for the Fountains project. The funding source is more common in larger cities.
"It's a very complicated process, but when properly done it yields amazing projects," he said.
"These investors ultimately want to come to this country, and frankly they're the people that we want, because they're coming here with capital and to support our economy, not drain it."
Developers and communities also benefit, he said.
"It brings capital into the local market here, especially in a time like today where capital markets are really tight," he said.
Quote from: marcuscnelson on October 25, 2024, 10:36:54 AM
The developer behind this idea profiled in the Daily Record today.
https://www.jaxdailyrecord.com/news/2024/oct/25/american-dreamer-why-developer-david-ergisi-keeps-aiming-higher/
Still sounds pretty outlandish, although I found this part interesting:
QuoteAlso adding complexity to the project, Ergisi plans to fund it partly through the federal EB-5 program, which allows foreign investors who fund development projects in the U.S. to move to the front of the line for green cards.
Ergisi also drew EB-5 funding for the Fountains project. The funding source is more common in larger cities.
"It's a very complicated process, but when properly done it yields amazing projects," he said.
"These investors ultimately want to come to this country, and frankly they're the people that we want, because they're coming here with capital and to support our economy, not drain it."
Developers and communities also benefit, he said.
"It brings capital into the local market here, especially in a time like today where capital markets are really tight," he said.
Huh. I have some philosophical questions about that program; haven't heard of this before that aren't really for this thread. That said, if this actually comes to fruition - which I have my doubts - I do think it would benefit downtown.
That is a wild article/puff piece. This guy might be crazy enough and have a big enough ego to actually get something audacious done. The EB-5 program does provide some developers without funding to pull off projects they wouldn't otherwise be able to. There is also a glitch with it (that is borderline illegal) that some developers use to make even more profit off of.
That said, this guy is still very green as a developer and a project like this is a huge step up in complexity. I'd be shocked if this happens.
EB-5 in Jacksonville... to build a high-rise... yeah okay lol.
^Yes, its hard for me to take that proposal seriously. At this point, it's not even worth spending media coverage on it. Just getting people's hopes up for a big letdown, with where things stand at this time.