Laura St Trio a GO????

[fsujax]

According to the Jax Business Journal today, it is. Changed of course.

http://www.bizjournals.com/jacksonville/print-edition/2012/08/24/developer-says-evolved-laura-street.html

[thelakelander]

Can't read the full article.  Can anyone provide the cliff notes?

[Captain Zissou]

Deep breaths. Deeeeeep Breaths.  Ok, now i can click the link.

[fsujax]

Lake, I am trying to get it.

[duvaldude08]

I wonder if Khan financing it. Im sure he is. I figured they were gonna have to rework it if he was going to finance it.. But we will see what the actual word is.

[CityLife]

I had heard about the school thing a few weeks back, but didn't know it was the @ the Trio. Nice! If its the deal I had heard about, it will hopefully lead to additional expansion a well. Also might be a nice political win .

[fsujax]

looks like I am going to have to wait until my hard copy gets here later. Cant access the article online. I believe this has something to do with the Florida Coastal School of Law.

[Captain Zissou]

I had heard about the school thing a few weeks back, but didn't know it was the @ the Trio. Nice! If its the deal I had heard about, it will hopefully lead to additional expansion a well. Also might be a nice political win .

I'm not quite savvy enough to pick up on your hints.  Any more you can give out??

[CityLife]

Don't sell yourself short Zissou. Maybe I was too cryptic. Political win for someone who needs one and has ties...

I just checked with a friend in admin at Coastal and he says not them.

[Tacachale]

Stole a hard copy from an office mate! Here's the spark notes:

*The developer says the revised project will be $40 million, after saving $10 million with a smaller parking garage. They hope to take part of the City's historic tax credits (max of $5 million) and $9.9 million in new market tax credits, which are available for low income neighborhoods.

*The project no longer has apartments. The Bisbee and Florida Life buildings would be "boutique hotel" space consisting of about 145 rooms, with retail on the bottom. The Barnett Bank Building would house a "higher education school" (whatever the hell that is) and dorms for the school. The Marble Bank would still be a restaurant.

*The developer is the same as before, Linea LLC, which claims they have a construction loan lined up. Khan's offer of lending aid is also still on the table. Linea want to get all their chips in before they close on the property.

*Notably, the major holdup has been the city. The developer was working effectively with Ron Barton and the JEDC under Mayor Peyton, but Brown's reconstructed agency still isn't in place 13 months into his term. If the city can finally get it together we could know if this project is a go by the end of the year.

*The developer is aware of skepticism about the project, particularly the hotel, but believes this product is different than any current options in NE Florida.

[duvaldude08]

With the DIA in place now, hopefully we can atleast get a handle on this and move it forward.

[CityLife]

partnership with UNF and WJCT similar to their partnership with MOCAJ.

Confirmed?

[Doctor_K]

Doesn't the Northbank already have a glut of hotel space, a la the Hyatt?

Do we really need more?

[CityLife]

If so, I stand corrected. I had heard JU was seriously exploring DT, and assumed it was that. Alright Jacksonville colleges. Time to flex your muscles and show us who can open up the best DT branch. Arms race commence.

[blizz01]

Wow - that's good stuff....I love MetroJacksonville Fridays....