Urban Construction Update - November 2012

[tufsu1]

LA Fitness is open now at Atlantic & Kernan, but is still under construction on University Blvd. West and on Atlantic in Atlantic Beach.

I am still struggling with their biz model and scope and number of their buildings in Jax metro.

Personally, I hope they survive, but I have this feeling that they will be vacant in 2 years. Disposable income is still down as a percent of household income and fitness memberships are usually the first thing to go.

according to Tony Sleiman, their model only worked if they could open 4 stores in the region

[simms3]

^^^That's because their business model is one of convenience and low membership fee.  They operate on economies of scale.  The draw of LA Fitness is that there is always one nearby, near your home, near your work, near the hotel you're staying at when you travel, etc etc.  It's like 24 Hour Fitness with more programs and better membership benefits (though most locations close by midnight as opposed to "24 Hour Fitness").

Thanks for the update.

I have come to realize that there is a lot of grassroots development in Jacksonville, perhaps more than most other cities on a per capita basis.  There is not a lot of money to be thrown on projects and developments in the city, but enthusiastic entrepreneurs are opening things despite.  Nothing is really pretty on the surface, but the energy of the effort and movement that goes into things such as Cork or 5 Points is real and exciting.  Reminds me of Milwaukee (I think once you get past 2 million people the small town energy goes away).

[ben says]

I have come to realize that there is a lot of grassroots development in Jacksonville, perhaps more than most other cities on a per capita basis.  There is not a lot of money to be thrown on projects and developments in the city, but enthusiastic entrepreneurs are opening things despite.  Nothing is really pretty on the surface, but the energy of the effort and movement that goes into things such as Cork or 5 Points is real and exciting.  Reminds me of Milwaukee (I think once you get past 2 million people the small town energy goes away).

Couldn't agree more.

[Coolyfett]

Cool, what is the San Marco TRAIN station all about??

[jaxlore]

Don't forget Sweet Theory bakery opened on King  http://www.facebook.com/SweetRevolutionBakingCo

[BackinJax05]

Jackson rules, Lee drools!

[David]

I wish I still lived in San Marco where the new roundabouts have been installed...it would provide built in entertainment.

You can count on at least one vehicle a night running the curb and drive straight through it. I hadn't been in the area for a few months and it almost caught me off guard.

[acme54321]

Cool, what is the San Marco TRAIN station all about??

Nothing to do with trains!

[avonjax]

Is there any news on Latitude 30 and moving their headquarters to the old Hayden Burns?

[ricker]

would it be strange to have a 24 hour grocery mixed in with a latitude 30 inside the old library?

[thelakelander]

I wouldn't expect to hear much on Latitude 30 until New Years or so....

Latitude 30 signs letter of intent to lease The Library
09/28/2012
by David Chapman, Staff Writer

Latitude Global Inc., a Jacksonville-based entertainment company, has signed a letter of intent to lease the 120,000-square-foot former Haydon Burns Library, now known as The Library, at 122 N. Ocean St.

“We would bring a Latitude 30 Downtown,” said Philip Alia, Latitude chief marketing officer, who confirmed the agreement Friday.

It would include 12 bowling lanes, a sports theater and meeting rooms, among other features, he said, as well as the corporate headquarters.

Broker and contractor Bill Cesery said Thursday a potential tenant would lease the entire space but he would not elaborate.

“It would be exciting for Downtown,” he said.

Alia said the letter of intent was signed last week and provides a 90-day window for Latitude officials to determine whether to enter a purchase-and-sale agreement.

full article: http://www.jaxdailyrecord.com/showstory.php?Story_id=537630

[Ocklawaha]

I wouldn't expect to hear much on Latitude 30 until New Years or so....

As slow as the moved in construction near the Avenues we may not hear from them until m/l 2016.