What Khan We Expect for the Laura Street Trio?

[duvaldude08]

Ashamed it takes an outsider who just moved here to realize the value of those buildings. With all the millionaires around this city, you would think they could step up, put thier money where their mouths are and do something to buy, rehab and make these buildings alive again. The non-group could have easily done something of this scale.

I totally agree. Kahn seems more like a Miami type of personality than a Jacksonville one. I often wonder if Jacksonville is "sexy" enough for someone like Kahn to hang around for decades. He doesnt seem like a country boy at all. Time will tell.

Acutally he is very laid back. Have you seen a picture of his home? Its big but very low key and country like. I mean seriously, he is from urbania. Urbania is not exactly a miami type city. It has a population 41,250. Not exactly big city life.  I think he'll be fine here 

[Captain Zissou]

He's not the Jag Owner we deserve, but the Jag owner we need.

Maybe he wants to increase the quality of the city via investment in order to increase population/attractiveness of Jax, in order that he might sell out some NFL football games properly. Make Jax a greater city, make the Jags a $2bil franchise, make Khan $$.

Maybe he'll even invest in UNF.

While he is no batman, I think this is a good move.

It will be much easier for the trio to change hands to a developer if Khan is the owner than if a bank owns it.  He may already be in talks with Steve Atkins.  Maybe Khan will be able to finance part of the development or at least bring in some lenders to help expedite this process.

[Ajax]

Maybe Khan will be able to finance part of the development or at least bring in some lenders to help expedite this process.

+1

My thoughts/hopes exactly. 

[Anti redneck]

Cooly.... I'm getting a headache looking at that Icon 

Hogan Lives!!

I like the icon. I think it's funny. I can't read what it says, though. What does it say?

[Non-RedNeck Westsider]

While he is no batman, I think this is a good move.

Nope, you can call him 'V'.

It will be much easier for the trio to change hands to a developer if Khan is the owner than if a bank owns it.  He may already be in talks with Steve Atkins.  Maybe Khan will be able to finance part of the development or at least bring in some lenders to help expedite this process.

I think that's exactly what he's doing.  Plus, $4M for 4 buildings in the heart of DT, it's quite the investment for him.  While he may not have any plans for developing the site himself, I would think that he would definitely be a catalyst for any development that happens.  The other thing that he is on record as saying is that he's now J'ville's biggest salesman.  That he is going to use the Jags to bring more outside attention to our city.  He's doing this because he's first and foremost a good businessman.  I'm sure he had a plan before he purchased the Jags and I won't be surprised at all if there's quite a bit more in the works.  Secondly, more for Jacksonville, more for Khan.  If he can bring in the corporate influence from around the world, he will turn that into club seat and luxury box sales which in turn increase his profile and increase his brand which increase his profits.  Though I don't think he purchased the Jags to turn a HUGE profit, he bought them as a fan of football and it will make him some money in the short term.  The long term benefits will be his increased profile around the world and you can't put a figure on that.

[I-10east]

Kahn seems more like a Miami type of personality than a Jacksonville one. I often wonder if Jacksonville is "sexy" enough for someone like Kahn to hang around for decades. He doesnt seem like a country boy at all. Time will tell.

Yup, Miami is definitely more suitable for him, because all of us simple folk in Jax are just a buncha bacca spittin', pick-up truck drivin', gun rack havin' hillbillies; Hell, we barely can count to twelve at times. Country boys and Jax definitely goes hand and hand. 

[Anti redneck]

Kahn seems more like a Miami type of personality than a Jacksonville one. I often wonder if Jacksonville is "sexy" enough for someone like Kahn to hang around for decades. He doesnt seem like a country boy at all. Time will tell.

Yup, Miami is definitely more suitable for him, because all of us simple folk in Jax are a buncha bacca spittin', pick-up truck drivin', gun rack havin' hillbillies; Hell, we barely can count to twelve at times. Country boys and Jax definitely goes hand and hand. 

Well times have changed, so must the image.   

[Tacachale]

lol, "Miami type"? The guy who, after making his millions, stays in the pleasant little college town where his Horatio Alger story came to life?

This is just more of the obnoxious inferiority complex that is Jacksonville's greatest curse.

[duvaldude08]

lol, "Miami type"? The guy who, after making his millions, stays in the pleasant little college town where his Horatio Alger story came to life?

This is just more of the obnoxious inferiority complex that is Jacksonville's greatest curse.

agreed. Khan is most humble billionaire you will ever met.

[Ocklawaha]

A good start would be pushing that stillborn Skyway into a true monorail system, with a terminal at Everbank Field, and stations at Randolph/East Side, Shipyards/Maxwell House, Hyatt/Newnan. Then jump start the light rail by "encouraging" immediate development of the Norwood/Gateway - Springfield - East Jacksonville - Beaver - AP Randolph @ Duval - Newnan - Independence - Water - RIVERSIDE SURFACE RAIL ROUTE.  Imagine being the only stadium in the (world?) connected to the public by electric rail, monorail, (there is also a standard commuter rail potentialities in the former F&J "streetcar/light-rail' route), freeway, and waterway... Oh yeah, did we mention bus too? Mr. Khan, have some of your consultants contact the pro-Jacksonville team of consultants here at metrojacksonville.com , together we'll make this city sing a new song.

[Timkin]

lol, "Miami type"? The guy who, after making his millions, stays in the pleasant little college town where his Horatio Alger story came to life?

This is just more of the obnoxious inferiority complex that is Jacksonville's greatest curse.

^^ well put .

[duvaldude08]

A good start would be pushing that stillborn Skyway into a true monorail system, with a terminal at Everbank Field, and stations at Randolph/East Side, Shipyards/Maxwell House, Hyatt/Newnan. Then jump start the light rail by "encouraging" immediate development of the Norwood/Gateway - Springfield - East Jacksonville - Beaver - AP Randolph @ Duval - Newnan - Independence - Water - RIVERSIDE SURFACE RAIL ROUTE.  Imagine being the only stadium in the (world?) connected to the public by electric rail, monorail, (there is also a standard commuter rail potentialities in the former F&J "streetcar/light-rail' route), freeway, and waterway... Oh yeah, did we mention bus too? Mr. Khan, have some of your consultants contact the pro-Jacksonville team of consultants here at metrojacksonville.com , together we'll make this city sing a new song.

Or maybe we need to contact him 

[comncense]

From the Jacksonville Business Journal

Jacksonville Jaguars Shahid Khan has issued a statement on the Laura Street Trio in Downtown Jacksonville through his spokesman:
The trio consists of the Florida Life Building, the Bisbee Building and the Marble Bank Building as well as the Barnett Bank Building.
“I am not engaged in any effort to purchase the Barnett Bank Building and the Laura Street Trio. I’m not a developer. But as someone who is committed to Jacksonville, I am interested in the promise of these properties and to the success of the downtown revitalization efforts currently under way.
“To that end, I have offered lending assistance to a developer recommended by the Jacksonville Civic Council and the Jacksonville Chamber. If this developer’s bid is successful, then I will be proud to make a business loan contingent upon a substantial historic properties grant to the developer from the City of Jacksonville. If another developer is successful in a bid for the property, and intends to develop the properties in line with the city’s vision for downtown â€" including trying to preserve these historical buildings â€" I will wish that company all the best.
“In the end, I just want what’s best for the community. A revitalized downtown is important to our quality of life and our efforts to market Jacksonville and the Jaguars to the world.”

[WmNussbaum]

We can expect absolutely nothing for the Trio. They are owned by a firm in Chicago - undoubtedly the folks who loaned Cameron Kuhn the money to buy them. It also owns the old Barnett Bank Building. The building facing Laura Street doesn't even have windows and has been exposed to the elements for years now.  If the City is serious about doing something with them, it ought to begin imposing fines so it can eventually foreclose and take over. The longer they sit as they are, the worse the deterioration will be and the more costly to restore.

Even with the Courthouse moving to that area of town, I think anyone taking on the restoration of those buildings should get the Cojones of the Year award - unless there is some use to which they can be put other than as offices. What that might be totally escapes me.

It is my impression that there is a fairly high vacancy rate in much newer downtown buildings right now, so spending the big bucks it would take to restore the Trio would be a very risky venture. I predict that those buildings will be in the same posture for years to come. Maybe the bank building is in decent enough shape to attract a user who wants a smaller "signature" home, and is willing to pay for it, but the other two are too far gone to attract anything in this financial climate. The folks restoring the sizable building next to Farah & Farah (the Kress Building, I believe it once was)  seem to have stopped, and they got a decent way into restoration - at least to the point of putting in nice windows. Did they run out of money or something else?

Now that I've shot off my mouth, I'll go take a look at MJ's photos of the Trio and see if I need to post a retraction.

[duvaldude08]

From the Jacksonville Business Journal

Jacksonville Jaguars Shahid Khan has issued a statement on the Laura Street Trio in Downtown Jacksonville through his spokesman:
The trio consists of the Florida Life Building, the Bisbee Building and the Marble Bank Building as well as the Barnett Bank Building.
“I am not engaged in any effort to purchase the Barnett Bank Building and the Laura Street Trio. I’m not a developer. But as someone who is committed to Jacksonville, I am interested in the promise of these properties and to the success of the downtown revitalization efforts currently under way.
“To that end, I have offered lending assistance to a developer recommended by the Jacksonville Civic Council and the Jacksonville Chamber. If this developer’s bid is successful, then I will be proud to make a business loan contingent upon a substantial historic properties grant to the developer from the City of Jacksonville. If another developer is successful in a bid for the property, and intends to develop the properties in line with the city’s vision for downtown â€" including trying to preserve these historical buildings â€" I will wish that company all the best.
“In the end, I just want what’s best for the community. A revitalized downtown is important to our quality of life and our efforts to market Jacksonville and the Jaguars to the world.”

Oh okay now this makes more sense. You know what, I actually seeing this happen quickly. The developer is pretty much guareented the financing from Khan contingent on getting the grant.  That financing has been the issue all along. This will remove the biggest hurdle in this project. Unless the city does something wacky, it looks like the project may finally take off.