QuoteDOWNTOWN -- Sales are on hold at One12, the historic building that developer Cameron Kuhn has gutted and is renovating into residential condominiums.
A spokesman for Coldwell Banker The Condo Store, the company selling the units, declined to comment on the reason for the hold. Numerous phone calls and e-mails to Kuhn and other members of the Kuhn Cos. were not returned by press time.
Kuhn acquired the former Barnett National Bank headquarters for $4.1 million in October 2005. He received $900,000 from the Jacksonville Economic Development Commission Historic Preservation Trust Fund to help cover an estimated $9.8 million in renovation costs for the 18-story building.
JEDC spokeswoman Ginny Walthour said that as far as the city knows, the project is moving forward as planned. The developer will not receive the funds, however, until the project is completed and is inspected by the city's historic preservation commission.
"We haven't heard anything different," Walthour said. "We'll proceed forward until we hear otherwise."
The project is expected to cost a total of $27.5 million, including renovations and development.
It is to include retail space on the first two floors, commercial uses on the third floor and 105 condos on the fourth to 18th floors. The condo units are to range from 600 square feet to 1,250 square feet and start at $200,000.
full article: http://jacksonville.bizjournals.com/jacksonville/stories/2007/08/20/story1.html
Sounds like the lawsuit with his partner is more serious than anticipated.
Looks like it. I'm holding out hope that the project will be converted into a boutique hotel instead.
I don't think this had anything to do with the lawsuit - a few weeks ago, he told a group downtown that he had sold a grand total of 4 units.
Just the hardknocks of life I guess. First, the city gives Kuhn the run around, then the lawsuit from the partner. I sure hope this project and the others stay on course.