Downtown Construction Update - September 2008

[thelakelander]

Miles?

Nothing happening here.  They demolished the remaining +100 year old buildings on the site a few months ago, but that's about it.

[thelakelander]

What projects have you stopped reporting on?

Everything that's not under construction.  I guess I should add 20 West and Berkman II to that list, since no work is taking place with them at this point, as well.

During the past summer the only thing really newsworthy has been the completion of the Peninsula.  Other than that, I would say the only projects of note are Kings Avenue Station and Alfred I. DuPont Trust.  When 8 stories is the Big story, I think it's time for some new stuff.

I'd also include the Lofts on Main, in Springfield, with those two. 

Whats the current status of the Laura Trio?  I have always been fascinated with that bank building.  Last I heard, while working at KBJ we did some feasibility studies for Police/Fire.

I believe these buildings, along with the Barnett, are now in the ownership of the bank that foreclosed on Kuhn.  So at this point, they sit vacant awaiting another prince in shining armor to save them before they crumble to the ground.

[JaxNole]

I laughed when I saw the Family Dollar picture.  Too bad we have to feature this in a construction update, but it could be worse.

[zoo]

Re: Barnett building... mid-summer a "shining knight" did come to town from a larger southern city to the northwest. Ready to ink the deal with Kuhn's bank, they had done financial due diligence, and just wanted to see the property. On a hot, near-patriotic Sat a.m., their reps flew in, visited the building, and flew out with negated intent.

Rehabbing a building is enough expense, "we're not interested in having to fight the blight and homelessness issue, too." True or no, on that Sat a.m. it was, and it killed the deal.
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Re: Miles... they are shopping the Brooklyn deal all over larger southern city to the northwest, with little-to-no intent or financial ability to make it happen themselves (go try find a lender for a residential project right now!)

If Miles' residential piece won't happen, what about Hallmark's commercial/retail piece? How much more (beyond the already allocated $24M) will the City have to throw at Brooklyn to find an entity that is fiscally able to develop it?

IF it happens at all, I'm being optimistic if I bet on 7-10 year timeframe. Can the city get its allocated $ back, and use for something else downtown?
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JEDC has proven it can get deals done on Southside and by the airport. Can we please ordinance in a new master developer for Jax's downtown mess?

[nicktooch]

Not bad Not bad... a lot of projects seem to be coming along... Whats the point of kings Ave Station? was it supposed to be a TOD because the skyway links it?

How tall is it going to be?

The Kings Avenue Station is a TAD ( Transit Adjacent Development).   Although its located on land owned by JTA, its a block or two south of the skyway station.  The first phase will include two Hilton hotel chains.  The hotels are supposed to be eight stories so I believe the building is now topped out.  The second phase (not anticipated to break ground anytime soon) will be residential with street retail. 

will the hotels be stacked or side by side?

[reednavy]

side by side, hence it being a bulky building.

[brainstormer]

I have to agree that the Construction Update is quite meek for a city the size of Jacksonville.  There are cities all over the US that are holding their own in this slow economy.  Of course they have strong leadership and are quickly capitalizing on a push by many to invest in urban cores and public transportation.  They have leaders with a vision and lots of enthusiasm.  Must be nice! 
So onto problem solving.  I haven't lived here very long, but has Jacksonville ever explored Tax Increment Financing as a way to get some of our numerous blighted blocks developed.  Many cities have found this to work as long as there are some restrictions.  Just throwing the idea out there.

[vicupstate]

There are TIF's already in place, and have been for years.

[jeh1980]

Does anyboby know what will the city do with Berkman 2?

[Charles Hunter]

I would guess the City would do ... nothing.  Eventually the owner will resume construction.

[nestliving]

"crave" in five points is about to open - selling mens an woman's clothing

fit out has started on an English tea house opening up in five points - going in the old lifestyles store on park.

lattitudes cafe should be opening shortly on park

the clothing warehouse just completed their remodel

a new furniture store is opening up in avondale.

a boutique glasses store is being fit out in avondale

construction has started on a new store opening up in the old armor space in avondale.

I would think that these items would get more attention than a dollar store on main.

[thelakelander]

Thanks for the update nestliving.  Sometimes its easier to spot out new construction as opposed to tenant upfits, which is why that family dollar stood out.  However, you're right.  These places should get some attention as well.

[comncense]

Is 20 West put on hold too? It looks like they haven't made any progress since I used to live over at the Carling back in January.

[brainstormer]

vic, can you please elaborate on your TIF knowledge.  I can't find any information on the city website about any TIF areas that have been created in the past.  What developments in the core are a result of TIF?  Where are the established districts in the urban core? 

[thelakelander]

Is 20 West put on hold too? It looks like they haven't made any progress since I used to live over at the Carling back in January.

They stalled out again a few months ago.