Brooklyn projects could get $24M in incentives

[thelakelander]

Two developers plan to spend $290 million to build workforce housing there.

By Joe Light, The Times-Union

The Jacksonville Economic Development Commission will consider an allotment of more than $24 million in city funds and tax rebates for two massive residential, office and retail projects in Brooklyn at its meeting today.

Miles Development Partners and Hallmark Partners Inc. separately plan developments that would bring up to 1,050 residences, 167,000 square feet of retail space, and almost 250,000 square feet of office space to cleared land along Riverside Avenue near the Acosta Bridge. The developers plan to spend more than $290 million to complete them.

But it would come at a cost to the city.

The funds would support workforce housing and pay for infrastructure - roads, sewer lines, electrical lines - and represent one of the largest public investments in a downtown residential project since the City Council approved new policies governing city incentives.

Up to $3 million would go to Miles to support workforce housing units, but the bulk of the remainder, $21.7
million, would pay for infrastructure work. The city would pay bills for the infrastructure as they came in, and the workforce grant would come as tax rebates.

"We're just making sure that the public infrastructure, which is something that the city should be providing anyway, isn't an impediment to developing Brooklyn," said JEDC executive director Ron Barton.

Miles Development Partners plans to include about 270 units of workforce apartments in the first phase of its project, which would have up to 800 units, a hotel and 150,000 square feet of retail space.

Hallmark plans to develop 150,000 square feet of commercial office space in its first phase and between 200 and 250 residences later.

The bulk of the remainder would be spent to install the infrastructure necessary to serve the two developments. The developers would build the infrastructure themselves, but the city would pay its contractors for the work, Barton said.

JEDC staff hopes the work will lure other developers to Brooklyn in addition to Miles and Hallmark.

full article: http://www.jacksonville.com/tu-online/stories/062807/bus_180558051.shtml

[JUSTDAVE]

I don't understand, Is the city actually writing someone a check? or are we just funding a public works project to provide infrastructure. who actually provides labor and materials? are the sewer lines on public right of way or on the developers property?

[brooklyn-ite]

I told you all that Miles Dev. Partners and Ron Barton are in bed together 

The small businesses are being forced out to accomodate you giving them all that money. Rather than integrating the existing businesses into the plan.

Hallmark is getting a raw deal in comparison to Miles too.  Hallmark has been at this project since 2002 ! Miles ? since 2006 .....  my how it helps to have the Jedc in your pocket.

[02roadking]

I'm not to sure I'm a liking this too much. I would have thought major infrastructure in place in this area.

[thelakelander]

It would be interesting to see exactly how they came up with the $24 million price tag and how much of Brooklyn will recieve infrastructure improvements.  The article doesn't really explain the amount of area covered or the condition of existing infrastructure, which most likely has been neglected, like the neighborhood itself, over the last few decades.

[thelakelander]

Brooklyn projects win JEDC support


Provided by LooneyRicks Kiss, project architect
The Hallmark Partners Inc. project on Riverside Avenue, west of the Acosta Bridge, is one of two the JEDC wants to assist in the area.

The Jacksonville Economic Development Commission approved an up-to-$3 million workforce housing incentive and almost $21.7 million in infrastructure work for two large residential, office, and retail developments in Brooklyn.  Miles Development Partners and Hallmark Partners Inc. plan separate projects that would bring 1,050 residences, 167,000 square feet of retail space, and 250,000 square feet of office space to vacant land on Riverside Avenue, just west of the Acosta Bridge.

full article: http://www.jacksonville.com/tu-online/stories/062907/bus_180707700.shtml

[Lunican]

It would be interesting to see what the city spent on infrastructure for Nocatee and the St Johns Town Center area.

Probably 10 times as much.

[thelakelander]

Nocatee is mostly in St. Johns County, but I'm 100% sure all the recent infrastructure projects around the SJTC cost a lot more than what's going into Brooklyn.

[Lunican]

True Nocatee is mostly in St Johns County, but this just means no tax revenue for Jacksonville while impacting Jacksonville roadways.

[02roadking]

I would have thought much of the infrastructure along Riverside was upgraded during the reconsruction of it.

[thelakelander]

One would hope so.  Most likely the areas in question are the side streets and utilities running between Riverside Ave and Park Street. 

[spidey]

Lakelander:  It would be interesting to see exactly how they came up with the $24 million price tag and how much of Brooklyn will recieve infrastructure improvements.  The article doesn't really explain the amount of area covered or the condition of existing infrastructure, which most likely has been neglected, like the neighborhood itself, over the last few decades.

Wouldn't it be nice if the JEDC put up their meeting agenda items and supporting materials on line?  Or maybe they do, and I just can't find them.   

[thelakelander]

That would be nice.  Right now I believe you have to go down to city hall and find the notice posted on the wall (at least that's the way it used to be in the old City Hall Annex).  Unfortunately, its pretty difficult for the average citizen to do that on a regular basis.

[brooklyn-ite]

heck it would be nice if Barton would at least hit the button to publish his emails in a timely fashion.  But I'm sure he wants to keep everyone in the dark until after the dust settles on issues.  Case in point - didn't update his public emails until the day after the approval of the $290 upgrades to Miles.  Other officials like Wiles / Diebenow update theirs pretty frequently.  Although it sure looks to me like they can filter some out if they want to from showing on the web.

[Jason]

I need to get busy re-modeling this development in Google Earth.