Plan to lure 1,000 Everbank jobs downtown

[vicupstate]

The say it is easier/better for Sleiman to continue with a lease vs. owning the land, does not make sense to me. 

In Sleiman's original plans, there were going to be condos included.  There is no way I would buy a condo in which the Condo Association did not own the land the building was on.  I doubt that such a thing could even legally be created.


To get an extention on his lease, the city would have to approve it.  What would be the chances of that happening with Peyton in office? Zilch, I would say.   

ANYTHING Downtown is already subject to design and zoning controls, reagrdless of who owns it.

While public access and easements would still have to be worked out, I find it very difficult to believe financing for something that has a ground lease expiring in 25 years is easier or preferable to getting financing when the property is owned outright.  That dog won't hunt.

[dougskiles]

How many parking spaces are in the surface lot serving the Landing?  How many more do they need to be attractive to national retailers?

[tufsu1]

from what I can tell, a little less than 200.

The Landing is around 125,000 sqaure feet...so using generic suburban suburban parking ratios of 4-5 spaces per 1000 square feet of retail, the Landing would "need" at least 600 spaces (400 more).

That said, how many street spaces are within a block of the center?  How many spaces are in the lots across the street that are advertised on nights/weekends as parking for the Landing?

One of the best things about downtowns is how parking for office workers during the day can be used by those going to dinner, theaters, stadiums, etc. at night and on weekends...this is exactly what happens with the TUPAC, Florida Theatre, etc.

And I saw it first hand in the early 1990's in Baltimore when the Orioles moved downtown and skeptics worried about a lack of parking...the team sold out every game for several years and folks parked in garages and lots nearby...and guess what....they walked to/from the stadium and brought street life to the area!

[dougskiles]

A quick search indicates costs for an urban parking garage can be around $25,000 per space.  So if we were to build an additional 400 spaces for the Landing, we are talking about a $10,000,000 project.  Not worth it.  I would rather see us building a streetcar that connects the Landing to the many half empty public garages around town and dedicate those spaces.

We don't need more parking downtown.  We need a better plan for connecting people to what we already have.

[thelakelander]

I think you guys are underestimating, ignoring or simply don't understand the importance of "dedicated" parking for the national retailer's site selection process. You don't need new parking, you need to take existing parking and dedicate it for a specific use.

[simms3]

From what I have heard about parking downtown, Everbank would use the garage that workers in Enterprise Center use, at least at first.  When Wells leaves that frees up that many more spots, and those spots will go to Everbank.  This is the garage between the Omni and the Wachovia building, which is owned separately from Enterprise Center.  This will make it hard to backfill the space that will soon be available in the building.

Sleiman has apparently been trying to get his hands on the parking lot in front of Enterprise Center for a while.  Nobody wants that to happen and nobody, at least that I know, wants to deal with Sleiman.  It seems like he has a bad reputation in the local real estate community.  The whole parking garage deal was also explained to me today, but I can't remember all the details.

Field, I know Fidelity has been very cooperative and accomodating with the RAM dock and RAM itself.  I was just going back to the early 2000s when the 17 or so landowners along the "at the time" proposed Northbank Riverwalk weren't all very cooperative.  Why should we trust Sleiman with that land?  He hasn't actually done anything to build trust and he hasn't actually done anything to really improve downtown to show that he has a history of that.  Also, if the Landing land is about as prime as it gets here in Jacksonville, let's equate it to prime land in other cities.  Ben Carter himself injected over $20 million of his own personal cash to help assemble land for the Streets of Buckhead in Atlanta.  The total plottage cost about $200 million just for the land, but required no city incentives, just a lot of moral support.  The land that the Landing sits on is prime enough to not require city incentives for anything.  If the city can get its act together, I can guarantee a real developer will come in and swoop up the Landing with or without the land and get something going.  Does anyone even know if Sleiman has the wherewithal to put something up?  Clearly he can get financing for a neighborhood center, but without any major mixed-use development experience can he get financing for such a project in today's economic climate?  That remains to be seen.  I think at the very least he would need to enter into a joint venture with a bigger fish, one that can bring some money to the table itself.

Also, my whole point has been that a ground lease does not have much of an effect on a deal.  My other point was that because the current situation is uncomplicated and does not affect the actual Landing itself, it would be more complicated to orchestrate a land sale.  Why change the current situation?  Sleiman is constantly postering.  It's what he does best.  If he says that he can't do anything without owning the land, then the opposite is true.

Lake, dedicated parking is a big deal.  That's true.  Usually there are actual regulations for how many spaces per unit or square feet of commercial space, and it depends on use, zoning, and other factors.  Anyone care to look it up for the Landing?  Retailers in every large city outside of NYC, Boston, Seattle, and San Fran require extensive parking, even in dense business districts.  That raises the cost of putting in these retailers because garages are so expensive.  It's usually necessary to put something on top that will produce income because in most cities the retailers are already taking a gamble on locating in a downtown and they won't pay for those spaces themselves.  Sadly, in Jacksonville there isn't much of a market for anything to be built on a garage...no condos, no apartments, no hotels, no office.

[vicupstate]

If the city can get its act together, I can guarantee a real developer will come in and swoop up the Landing with or without the land and get something going.

The Landing has NEVER made money, and the city is 20 years behind it's peers in DT redevelopment.  You are dreaming. Considering the economy, you aren't just dreaming but under the influence. 

Sleiman bought the center for a song, because nobody else wanted it.   

[simms3]

I may be dreaming about the city, but the economy has largely come back in many ways and development is picking up.  There are large scale things going on in other cities.

All downtown needs is a little bit of momentum, which it seems like we are almost getting.

[ChriswUfGator]

from what I can tell, a little less than 200.

The Landing is around 125,000 sqaure feet...so using generic suburban suburban parking ratios of 4-5 spaces per 1000 square feet of retail, the Landing would "need" at least 600 spaces (400 more).

That said, how many street spaces are within a block of the center?  How many spaces are in the lots across the street that are advertised on nights/weekends as parking for the Landing?

One of the best things about downtowns is how parking for office workers during the day can be used by those going to dinner, theaters, stadiums, etc. at night and on weekends...this is exactly what happens with the TUPAC, Florida Theatre, etc.

And I saw it first hand in the early 1990's in Baltimore when the Orioles moved downtown and skeptics worried about a lack of parking...the team sold out every game for several years and folks parked in garages and lots nearby...and guess what....they walked to/from the stadium and brought street life to the area!

Except that's only on weekends. During the week, regardless of the severe glut of parking downtown, COJ tickets the $h!t out of anyone using street parking during normal hours. Which is kind of a buzz-kill when you are running a business that depends on customer flow being steady for more than 2 days a week.

Parking policies need to be revisited, if you are going to deny the Landing its garage. The parking situation has been an issue for the Landing from the beginning. Yes, there is plenty of parking. No, you can't use it, unless you 1) Remembered to bring quarters (who carries change anymore?), then 2: Are 100% sure you'll be back in exactly XX amount of minutes or else enjoy your nice ticket, or else 3: Want to pay out the ass and enrich Mark Rimmer to park in one of his 1,000 space garages that might have 3 other cars in it on a good day. Not that this, of course, will stop you from paying out the ass anyway, since his empty garages have their operating losses subsidized by the taxpayers.

Or, back in reality-land, people immediately realize this is ridiculous and everybody will just continue going to one of the other dozen Hooters restaurants and getting their $10 burger without a $15 side of parking ticket and a charitable contribution to Mark Rimmer. Just like they do now.

It's time to revisit downtown parking policies.

[tufsu1]

Except that's only on weekends. During the week, regardless of the severe glut of parking downtown, COJ tickets the $h!t out of anyone using street parking during normal hours. Which is kind of a buzz-kill when you are running a business that depends on customer flow being steady for more than 2 days a week.

that is pretty much 8a-5p weekdays...after 5pm, they don't ticket....now the meters says 6pm, so a simple change would be fix that.

as for daytime, as it is in most downtowns, the answer is to have a built-in customer base from the nearby office workers....part of the reason downtown dining and retail work in cities is that people either don't travel to downtown in a car or they leave it parked and walk around...most downtown office workers walk around a bit on lunch break.

[fieldafm]

I may be dreaming about the city, but the economy has largely come back in many ways and development is picking up

Yes, you are dreaming then.

Nobody wants that to happen and nobody, at least that I know, wants to deal with Sleiman

Simms, I like you... but reality has not entered your arguments in this thread.
The only 'nobody' you are referring to is Peyton.  Council passed an overwhelming seal of approval for a parking deal last year until the two sides starting acting like children again.

I can guarantee a real developer will come in and swoop up the Landing with or without the land and get something going.

I didn't realize Sleiman Enterprises wasn't a 'real' developer?  I also missed the huge auction where all these 'real' developers bid up the price of the Landing when Rouse pulled out?  You're digging your hole deeper.  Once again you just don't like the person behind the deal. 

but without any major mixed-use development experience can he get financing for such a project in today's economic climate?

Commercial financing is very strong right now for well qualified firms like his that have zero liquidity problems.  The issue is not 'experience'.  It's clear you don't understand this. 

Your entire post revolves around the dislike of a certain developer.  Once people in this city grow up, we'll be a better place for it. 

I have to get some actual work accomplished today.  You all have fun spewing out your misconceptions, negative thought processes and unbridled dislike for certain people around town.  I have to be productive instead.  Jazz Fest is this weekend, try enjoying the moment.

[Jdog]

JAX DAILY RECORD:

EverBank deal to move Downtown draws concern
06/06/2011

Karen Brune Mathis

A pair of local radio hosts concerned about the City’s proposed incentives to move EverBank jobs from the suburbs to Downtown said Sunday they plan to attend the Jacksonville Economic Development Commission meeting Thursday and that dozens more people might join them there.

The commission is scheduled to consider two EverBank action items to support the move to relocate 1,000 employees to Downtown’s inner core and to create 200 jobs.

Commercial real estate broker Chuck White, president and CEO of NAI Commercial Jacksonville, said he and his wife, lawyer Colleen White, will attend. They host the “Just Speak Up!” radio show noon-1 p.m. weekdays on WBOB AM-600.

White said he wanted to attend as “a concerned citizen that is an expert in deals like this.”

“Colleen and I will be there as radio hosts that know the vast majority of our residents don’t want our taxes spent to the benefit of so few and to the detriment of so many,” he said Sunday.

He called the deal for City assistance to relocate jobs from the suburbs to Downtown “unheard of.”

“I will be inquiring tomorrow morning to insure I follow proper channels to make a public comment,” he said Sunday night.

White said his blog at www.fctpcommunity.org, which is the First Coast Tea Party website, has been up since Friday. “Many of those people (over 50 comments) say they are coming,” he said.

The commission, which operates as part of the mayor’s office, will meet at 9 a.m. Thursday in the mayor’s large conference room in City Hall to consider several projects to recommend to City Council for approval.

Among them are deals to move the 1,000 EverBank jobs from the suburbs to Downtown and construction of a parking garage by the SunTrust building.

Mayor John Peyton announced several of the projects two weeks ago. If the commission approves them, they will be sent to Council committees and could be voted on by the full Council before Peyton leaves office June 30.

A JEDC agenda and project summaries distributed Friday include detailed project summaries for most of the Downtown-related projects.

Two action items are for a parking lease for the Churchwell Lofts, which are at Bay and Market streets, and a proposed expansion of the Bay Street entertainment zone.

Two others concern parking. One is a settlement agreement with Project Riverwatch LLC over construction of a parking garage in a much-amended deal that dates back to 1985. The other is a deal with Parador Partners LLC of Ponte Vedra Beach to build a multistory parking garage next to the SunTrust building, of which Parador is the majority owner.

The two EverBank projects are:

• EverBank QTI, also called “Project Plaza. Jacksonville-based EverBank requests Qualified Target Industry Tax Refund and Quick Response Training Program assistance of up to $2.4 million from the City and state to add 200 new, full-time jobs at an average wage of $49,000, creating a payroll of $9.8 million and an investment of about $1.6 million in capital for technology, infrastructure and furniture.

If EverBank locates within the Enterprise Zone, which includes the urban core, it could qualify for the $2.4 million, consisting of $420,000 in tax refunds from the City and $1.98 million from the state. The state total would consist of $1.68 million in tax refunds and $300,000 for quick response training. If EverBank chooses a site outside the Enterprise Zone, the incentives are $1.3 million, consisting of tax refunds of $200,000 from the City and $800,000 from the state, along with the $300,000 training assistance.

• EverBank Relocation. The City proposes to provide $2.75 million to help EverBank relocate a minimum of 1,000 jobs by Sept. 30, 2012, from the suburbs to Downtown. EverBank has negotiated to lease more than 225,000 square feet of space and 1,400 parking spaces Downtown and said it will spend more than $26.5 million in tenant improvements.

No site was specified in the summary except to say it is within the urban core bounded by Jefferson, State and Main streets and the St. Johns River. The Daily Record has reported that AT&T Tower 301 is a likely site. Also, EverBank must maintain at least 1,350 jobs among its Riverside Avenue area headquarters and the urban core site for at least five years.

The project summary says EverBank currently has about 1,200 employees and leases of more than 225,000 square feet in two suburban Southside locations, at the Quadrant II and Cypress Plaza.

It says EverBank’s leases there are coming up for renewal and the company wants to evaluate the next steps for its corporate growth.


http://jaxdailyrecord.com/showstory.php?Story_id=533741

[duvaldude08]

Booo!!!! They are at it already. I dont follow their logic. So they are saying it is a bad idea to create jobs? Because this proposal is two fold. Brining 1,000 plus worker to an half empty DT AND creating jobs. This is just the beginning of what is to come. Much more resistance will follow once the Brown Administration takes over.

[Tacachale]

I don't understand how this is to the "detriment of so many". Is he talking about the city funds used to facilitate the incentives?

[duvaldude08]

I don't understand how this is to the "detriment of so many". Is he talking about the city funds used to facilitate the incentives?

It is only a detriment to the Local Tea Party is what they meant. lol