Khan interested in developing shipyards

[finehoe]

Based on what he's said in the past, I think we can expect to see:

1) Residential
2) Retail
3) Dining/Nightlife
4) A hotel
5) A marina
6) A covered practice field
7) The incorporation of the USS Adams
8 ) Some sort of a signature "attraction."
9) Public, riverfront space

Thanks!

[heights unknown]

It's city property, and if we wait for someone to come around who's willing to pay for remediating our toxic dump, the Shipyards will remain vacant for another 25 years. And, even though I normally wouldn't say this, if Khan is willing to develop the property, let him have it for free. Hell, pay him within reason to develop it, if that's what it takes.

For a variety of reasons, including:

1) We keep hearing how valuable this polluted waterfront property is, yet no one else has expressed interest in developing it, aside from the pie-in-the-sky Sea Glass Tower group who quietly backed away from the project last year. A bird in the hand is worth two in the bush.

2) Shad Khan and Mark Lamping have proved beyond a doubt with the stadium renovations that they have the ability to quickly turn the pedestrian into something absolutely world class. In one year, Khan transformed Everbank Field from an aging NFL stadium into one of the great places in the world to watch a sporting event. Fans voted it best game-day experience in the league. Bloomberg gushed about it. CNN and the New York Times gushed about it. Can you imagine what they would be able to do with a blank canvas?

3) There isn't exactly a waiting list of the world's richest men knocking down the door to invest in Jacksonville. Squabbling over whatever few million dollars the Shipyards property might be worth while what could up being a half billion dollar investment hangs in the balance is penny wise and pound foolish. Such short-sightedness almost cost Jacksonville our NFL expansion team in the early 90s before Delaney stepped in and mediated a deal between Touchdown Jacksonville and the city. If Khan is serious about privately funding most of the development, for the love of God step aside and do everything you can within reason to make it happen. You don't see Detroit snubbing their nose at Dan Gilbert's money, do you?

4) Who do you trust to do the property justice? Seriously, think about it. On one side, you have a businessman so savvy that he closes down bakeries and cuts funding to a startup incubator when he senses incompetence or a lack of ROI, backed up by Mark Lamping, who oversaw the $1 billion construction of Metlife Stadium. On the other side, you have a city government that can't even fix a pothole. How'd the courthouse work out? Or that parking garage for the Landing? Compare that to Everbank Field renovations. With Khan overseeing the project, you'll get twice the bang for half the bucks in a tenth the time as if the city ever got around to developing the property themselves. Even if the city pays Khan to take the Shipyards, the material cost of doing something is still less than the opportunity cost of doing nothing.

5) The Jaguars are arguably Jacksonville's single biggest economic asset. For better or worse, without the NFL, Jacksonville is just another mid-sized city. The Jaguars drive jobs, drive tourism, bring new businesses to town. Without the NFL, the Florida-Georgia game would have been gone years ago, as we never would have been able to justify investing the money to keep our stadium competitive. The Jaguars lease at Everbank Field is going to sneak up on us quicker than we realize, and when that day comes, it would certainly be a lot harder for Shad Khan to pack up the Jaguars and move them elsewhere if he has a strong foothold in this community.

6) From my understanding of some of the reports coming out today, the Shipyards property will, in some small part, tie-in with the Jaguars ongoing partnership with London. If the development of the Shipyards increases tourism from and continued partnership with London, that's a big win for the city.

7) A world-class development at the Shipyards will yield priceless positive externalities for adjacent properties. Berkman II. The USS Adams. Healthy Town. Intuition. The Jacksonville Suns. The Jaguars. The Armada. The Sharks. Metropolitan Park. The Riverwalk. You can't underestimate how much stronger the attraction to that area of downtown will be if there are more options pre-and-post game.

I know others might disagree, but I truly feel that Shad Khan has bent over backwards to demonstrate good will to Jacksonville. I really can't comprehend how there are still so many doubters. I don't think people understand how lucky we are and how important it is to not mess this relationship up, and how patient he has been every time he's been raked through the coals by locals for making sound business decisions.

By a stroke of luck (Shad Khan losing his bid to buy the Rams from Stan Kroenke at the last minute in 2010), we had one of the wealthiest men in the world -- a guy who makes Donald Trump look poor in comparison -- fall into our lap. He could pay out the remaining years on the lease and any subsequent penalties and legal fees and move the team elsewhere without breaking a sweat, but he embraces Jacksonville. He spent more money on the fan experience in two years than Wayne Weaver had in the past decade, and forged a sister-city relationship with London, which Forbes and Bloomberg just named the most financially influential city in the world.

This is a once a century opportunity that we're staring at.

Within reason, I think we need to do everything we possibly can to embrace the guy, help him help Jacksonville, and just hang on and enjoy the ride.

Can't wait to see the plans within 30 days, and I pray that we don't let short-sightedness keep this project from happening before the economy takes its next turn for the worse.

Well said, well put, and well written Ken. I agree wholeheartedly with ALL that you have said. I was thinking the same thing, but just couldn't put it into words as eloquently and "well put together" as you did. Bravo Zulu, and "hats off" to ye Ken. ("Heights")

[heights unknown]

^Agree 100%.

I hope there a couple mid-rises in the plan; 15-30 story towers.

15-30 stories? Let's go whole hog; if the vacancy rate justifies it, how about 30 to 50 stories. (Heights)

[heights unknown]

I can't believe people in this city are still bent out of shape about Khan and the shipyards site. KenFSU you make very valid points above and I agree whole heartedly that if it takes gifting Khan the property then that's the best move the city could make. I don't know if people understand or overlook the fact that the site will be PRIVATELY FUNDED! FULLY PRIVATELY FUNDED. The city won't have to contribute a DIME of your taxpayer dollars and will reap the tax, financial, and image lifting benefits of such a world class development.  I mean when was the last time a billionaire rolled in town and offered to throw our city on his/her shoulders, offering to change the perception of the town by developing a toxic waste of space while asking for ZERO dollars in incentives. I mean we cant even get a Jimmy Johns subs to open up shop downtown without asking for dollars which could hv been dispersed to local upstart businesses. Sure the city has to pay for Cleanup but guess what..the city owns it currently and are responsible for it. What some of you believe we have to gain by sitting on the property and begging someone to come in and save us I don't know. There's definitely more to lose if we don't jump on this train while it's here. Yapping about potholes, libraries, police funding etc. shouldn't even be brought up in this discussion because the money from the sale of the shipyards wouldnt help a city hand- cuffed by its own self imposed ridiculously low tax rates! People complain about wanting nicer things but don't want to pay for it. This is worth the price of paying. Give the man the land and let the Cowford residents continue to sulk about scoreboards while the rest of us Jacksonvillians bask in the glory of a reenergized downtown.

Bravo Marle, Bravo! Sounds like you and Ken have been talking on the phone. I agree whole heartedly my friend. Give the Man the Land; it'll just sit forever, long after we're dead, if we wait on the City or someone else to come along and develop it. Jax doesn't have that type of image or prowess just yet...so give the Land to Shad. (Heights)

[heights unknown]

The Shipyards is worth $30 million, and that number will increase with the improving economy. When our city is at a point that we can't maintain cut our grass, fix our potholes, or keep an adequate number of police officers, are we really prepared to give a billionaire another $30 million gift? Or pay him to take it?

Look, I like Khan, he's been great for the Jags and for the city. But the city and the Mayor need to show some negotiation ability. They can't just keep writing Khan checks with taxpayer money.

On this we totally agree, Tacachale.
Why is the city forking over millions to this guy but complaining that we can't pay our cops or afford to build a transportation system thats worth a damn?

Now where is this invisible money coming from? Where is it stated that the city is PAYING Khan to develop the property? Paying for the cleanup is not equivalent to cash given to develop property, that is called business. This is an appropriate business transaction appropriate to this particular parcel and circumstances, not all. Are we so caught up in ourselves that we should expect someone to pay for the land and cleanup and development of the land and construction of the buildings and attractions without ANYTHING in return?? Gifting Khan the land is the LEAST the city could do and the MOST it could reap simultaneously  plain and simple. He has financed the Laura Trio, went more than half with the city on TOTAL recent upgrades to our (city stadium in which he DOES NOT OWN) now world class stadium and now some of you want to sell salt to a slug. Face it nobody wants the property but Khan. No one will develop it privately but Khan. No one has shown his dedication to fast tracking ideas and results and delivers better than Khan recently. It's never good to allow personal feelings to override common sense. I get the sense that some here don't know when to remove the political cap and wear the thinking one sometimes. We are not LA, NY, Miami, or even Charlotte. We are not world class yet. We ARE the city 10yrs ago that was ridiculed and exposed for what it lacks during super bowl. Let's face it, we are not the hottest date at senior prom. In fact, we don't even have a date to prom. But there's this swagged out guy in algebra class 3rd period that thinks we're hot and is actively courting us. Let's give it a shot guys is all I'm saying, this one looks like a keeper

Give it to em Marle; YOU...ARE...THE...BEST! Obviously you've got your thinking cap on, are calling it as you see it and exactly as it appears, and it seems most Jaxsons are acting like those guys who are now dead who were once called, "the good ole boys network." Come on guys, you know that Khan has VISION and He also is courting this city and showing that he not only cares for our downtown, but Jacksonville as a whole. DON'T PISS THIS GUY OFF!!! He could move the Jags, whenever and wherever He wants, at a moments notice and without an eye's twitch, to a REAL WORLD CLASS CITY IN OUR NATION; so give Him a chance, and let's see what He will do. If it's anything near what He did for the stadium, or everything else He's done for this City since taking over the Jaquars, we are in for a very smooth ride! (Heights)

[heights unknown]

Where is it stated that the city is PAYING Khan to develop the property?

It has not been made public what the City's deal is yet (that will happen in two weeks), but they initially asked the city to pay for remediation (reasonable), pay for a Riverwalk extension (reasonable) and give them the land for free (not reasonable). In addition to COJ paying for site cleanup and public access (aka, the Riverwalk), we the taxpayers are still paying interest on bond debt related to the Shipyards property from previous failed redevelopment efforts (there have been three so far).

COJ has yet to put an RFP out nationally for the site

The city is and has been relieved of the bond debt since 2005 when Landmar agreed to take over the bond payments the city incurred from the failed Trilegacy deal. LandMar made 20mil in improvements to the land and paid 13.8mil towards the city bond debt. In 2009 LandMar declared bankruptcy and subsequently the land valued at 20mil in 09' was reverted back to the city. You see, LandMar was responsible for the bond debt after the deal was signed, not COJ. After bankruptcy court and five years worth of legal wrangling, the debt was settled and the city received an award of 13.4 million for its investment in the failed development. Why was this 13.4 million not used towards a bond payment of any sort when awarded and put into a special account? Because no bond is owed. That issue was dissolved along with other obligations during LandMar's bankruptcy.
And LOL at RFP. Really RFP?? Good luck WANTING for a sweeter deal, free of city required incentives. In 2001 the city approved 37mil in incentives to Trilegacy, and approved another 3mil towards public improvements when it signed the deal with LandMar. So let's SELL the land to a new developer, PAY for cleanup, AND THEN be on tap for more incentives I'm sure the new developer will in turn ask for. THAT would require another bond backed debt on the city's books. So what exactly is the gain in waiting for someone to buy the property, losing tax dollars that would be generated in the meantime, only to turn around and pay out incentives to another unknown entity. Khan has a proven track record of getting things done. IF in the event Khan fails to lay a single brick on site, the city would have lost nothing. We have everything to gain by doing the smart deal and signing over the land.

Thanks for doing your homework Professor Marle (LOL). (Heights)

[heights unknown]

Based on what he's said in the past, I think we can expect to see:

1) Residential
2) Retail
3) Dining/Nightlife
4) A hotel
5) A marina
6) A covered practice field
7) The incorporation of the USS Adams
8 ) Some sort of a signature "attraction."
9) Public, riverfront space

Thanks!

Tell me about it; THIS is what WE ALL, I think want to see; and I hope that ALL OF THIS is what we will see in the shipyards. And yes, with so much to build on the property, it should be built in increments over a certain timeframe. Looks and sounds good to moi! (Heights)

[downtownbrown]

totally agree with your last 6 posts

[iMarvin]

^Agree 100%.

I hope there a couple mid-rises in the plan; 15-30 story towers.

15-30 stories? Let's go whole hog; if the vacancy rate justifies it, how about 30 to 50 stories. (Heights)

I would love that. Make it as tall as possible.

[tufsu1]

^ I disagree.  Street vibrancy is best done with mid-rise buildings.  Plus I wouldn't want the shadows cast by towers on Bay Street

[jaxjaguar]

Considering how hot it gets in the summer, I'd say shadows would be a good thing. Plus it'd be nice to liven up the skyline with some high rises. It'd look pretty on TV and to people driving on 95.

[thelakelander]

Doubt there's a market to plop skyscrapers all over the place. Khan didn't get to be a billionaire by investing millions in things that aren't profitable. With that said, it will be interesting to finally see what he proposals and what the real details for the acquisition of the property are.

[tufsu1]

Considering how hot it gets in the summer, I'd say shadows would be a good thing. Plus it'd be nice to liven up the skyline with some high rises. It'd look pretty on TV and to people driving on 95.

pretty skylines on TV and on the interstate do not a great downtown make

[Charles Hunter]

Maybe we could get one of the Potemkin architects to make an Imprssive On TV and From I-95 skyline. 

[iMarvin]

I'm not sure how feasible large skyscrapers are either; that's why I initially said mid-rises. But it would be nice to get some buildings that could possibly alter the skyline. That'd always be nice.