Claims may affect big projectQuoteDOWNTOWN -- Claims filed against entities involving developer Thomas E. Coghill Jr. could affect a $234 million project on the St. Johns River in Downtown Jacksonville.
Two third-party claims have been filed against a trust benefiting Coghill and two claims have been filed against a limited liability company of which the trust is a member.
The filers have claimed interests in all property owned by the trust and Riverfront Development Group II LLC, which owns the 22.8 acres at 1721 E. Adams St. on which the St. Johns Point project is planned. Coghill is the beneficiary of the Riverfront Development Revocable Trust, which has a 22 percent share in the LLC and its projects, according to the LLC's original operating agreement.
Riverfront Development Group II and Crosswinds National LLC plan to build three, 30-story condominium towers, 107,000 square feet of office space, 107,000 square feet of retail space and a 150-slip marina at St. Johns Point, according to a list published by the nonprofit group Downtown Vision Inc. in April 2007. The project, near Jacksonville Municipal Stadium, received conceptual design approval in December 2005.
The conceptual approval expired in December 2006. Developers must resubmit plans for conceptual and final approval by the Downtown Development Review Board, formerly known as the Design Review Committee, before the Jacksonville Economic Development Commission would consider approving the project, JEDC Deputy Director Paul Crawford said.
"Right now it's conceptual," Crawford said. "They've got a long way to go."
The JEDC would evaluate the financial stability of the project as part of that process. "We don't go into agreements with willy-nilly groups, if you will," Crawford said.
full article: http://jacksonville.bizjournals.com/jacksonville/stories/2007/08/06/story2.html?b=1186372800^1500065 (http://jacksonville.bizjournals.com/jacksonville/stories/2007/08/06/story2.html?b=1186372800%5E1500065)
(http://cll.bizjournals.com/story_image/92535-400-0.jpg?rev=2)
^St. Johns Point
Not to be confused with(http://static.flickr.com/51/140470855_8b1a371819.jpg)
^The St. John