New Town Center Development Announced

[fieldafm]

What, the multiuse path on I-95?  Or the system interchange?  Pretty sure it's all within FDOT ROW.

^He's probably talking about the $200k being given to the city to convert College Street, back to a street with residential character. Before the replacement of the Fuller Warren back in the late 1990s/early 2000s, there was an interchange at College Street.

http://www.10and95.com/SiteCollectionDocuments/1120150226PublicInformationMeetingHandout11x17.pdf

I have zero faith that the City can and will use the money correctly, effectively, or efficiently. 

Zero.

Yes, because FDOT has really been the hero in Brooklyn and Riverside over the last decade. Forrest Street turned out so well 

[southsider1015]

What, the multiuse path on I-95?  Or the system interchange?  Pretty sure it's all within FDOT ROW.

^He's probably talking about the $200k being given to the city to convert College Street, back to a street with residential character. Before the replacement of the Fuller Warren back in the late 1990s/early 2000s, there was an interchange at College Street.

http://www.10and95.com/SiteCollectionDocuments/1120150226PublicInformationMeetingHandout11x17.pdf

I have zero faith that the City can and will use the money correctly, effectively, or efficiently. 

Zero.

Yes, because FDOT has really been the hero in Brooklyn and Riverside over the last decade. Forrest Street turned out so well 

It has been for the roads it's responsible for.  Can't say the same for any COJ roads.

[fieldafm]

What, the multiuse path on I-95?  Or the system interchange?  Pretty sure it's all within FDOT ROW.

^He's probably talking about the $200k being given to the city to convert College Street, back to a street with residential character. Before the replacement of the Fuller Warren back in the late 1990s/early 2000s, there was an interchange at College Street.

http://www.10and95.com/SiteCollectionDocuments/1120150226PublicInformationMeetingHandout11x17.pdf

I have zero faith that the City can and will use the money correctly, effectively, or efficiently. 

Zero.

Yes, because FDOT has really been the hero in Brooklyn and Riverside over the last decade. Forrest Street turned out so well 

It has been for the roads it's responsible for.  Can't say the same for any COJ roads.

That example actually was something that the FDOT shoved down our throats despite the overwhelming objections of the neighborhood. In fact, the Downtown Development Authority even went so far as to hire an outside firm to counteract the North-Korea style boulevards and cul-de-sacs that FDOT built in an urban neighborhood.. and low and behold, today's private landowners and neighbors are trying to figure out how to unscrew that FDOT lightbulb that doesn't at all fit in our urban lamp that is finally starting to light up.

[thelakelander]

^A decade later, that one is pretty funny. We ended demolishing blocks of buildings to make room for one of the most expensive roadway widening projects in the city's history. Now, it's not a FDOT street anymore and we're exploring ways to make it shrink it back down to a walkable scale.

[Tacachale]

Yeah, that's a pretty tough one to rationalize FDOT's decisions on. A hugely expensive project that caused as many problems as it solved. The success of the road project can probably be gauged by the fact that everyone wants to change them now that the road is out of FDOT's hands.

[iMarvin]

New retail, housing coming to St. Johns Town Center

Another development, called Town Center Exchange, is proposed near St. Johns Town Center that would generate more multifamily, commercial and hotel space.

Town Center Exchange will yield about 35.7 acres for development across Town Center Parkway from the open-air shopping center.

As proposed, the project will include up to 200,000 square feet of enclosed retail and commercial uses, up to 100,000 square feet of office space, up to 200 hotel rooms and up to 400 apartments and 40 townhouses.

Read more at: http://www.jaxdailyrecord.com/showstory.php?Story_id=546120

[spuwho]

More on the "Town Center Promenade"

Per Jax Daily Record:

http://www.jaxdailyrecord.com/showstory.php?Story_id=546935

Core Property Capital LLC's plans for its 30-acre development near Town Center might be adjustable, but marketing materials online show it's now called Town Center Promenade.

It fronts Town Center Parkway opposite the St. Johns Town Center.

A draft site plan of the project, earlier referred to as Town Center Exchange, show an almost 18,000-square-foot grocery store; a 42,250-square-foot fitness center; three standalone restaurants from 3,125 to 7,000 square feet; a 4,500-square-foot branch bank; an almost 8,000-square-foot building with a restaurant and retail space; and an almost 6,000-square-foot structure with a coffee shop and retail space.

Plans also show 335 apartments units among four buildings and another acre for retail development.

A vice president of the Atlanta-based developer said in September that Core Property Capital would develop the apartments, which front a lake.

The 2-acre site for a proposed 123-room hotel also fronts the lake.

The Promenade marketing materials say the 30-acre mixed-use development would consist of about 100,000 square feet of restaurant and retail space, 350 multifamily units and a 150-room hotel.

The Shopping Center Group is marketing the remaining sites. A marketing flier shows 10 lots in size from less than an acre to more than 5 acres. They are available as ground leases and build-to-suits, with one for sale.

Tom Mundy with The Shopping Center Group represents the Town Center Promenade. Mundy and Core Property Capital representatives have not returned telephone calls this week.

Core Property Capital paid $23.5 million last week to buy 69 acres west along Town Center Parkway from Midtown Parkway north to Brightman Boulevard. Of that, 30 acres can be developed.

Except for the fitness center, the other buildings are designed to front Town Center Parkway. The fitness center is behind the grocery store and next to the multifamily project.

No retailer or restaurant is identified on the draft site plan.

Red Robin Gourmet Burgers Inc. said in September it was considering Jacksonville for a full-size location, which is 6,000 square feet. The Town Center Promenade site plan shows a 5,912-square-foot restaurant building that could accommodate that size.

Per the JBJ:

http://www.bizjournals.com/jacksonville/news/2016/01/27/new-details-on-23-5-million-development-near-town.html

Two hotels, an apartment complex, a national grocer and several restaurants and retailers are planned at a development next to the St. Johns Town Center, according to a representative for the landowner.

The development has been named the Town Center Promenade and includes 11 outparcels, Tom Mundy of the Shopping Center Group said.

Core Property Capital, based in Atlanta, bought about 69 acres of land, but only about 30 acres are developable as there's a large lake on the site, he said. The development sits on Town Center Parkway across from the Publix shopping center at the Town Center. Core Property Capital paid $23.5 million.

Mundy said the plans call for shops and restaurants to be built along Town Center Parkway with the hotels, apartments and one of the restaurants on the lake.

He said some of the retailers and restaurants include a full-service hamburger chain, a Brazilian steakhouse, a coffee shop, a mattress store and a dental office, Mundy said.

He declined to identify any of the retailers, restaurants or the planned grocer. He said the leases have been signed but have not been finalized with regards to due diligence.

He said the apartment complex will be built on an 8.5-acre site, but he did not have available the number of units.

Mundy said the development isn't being designed to compete with the Town Center.

"Town Center Promenade will complement the existing development," he said.

Mundy said the timing of the purchase had nothing to do with the recent announcement about another proposed Town Center development. He said the Hines development at Interstate 295 and J.T. Butler Boulevard is in a good location, but Town Center Promenade is close to a heavy retail activity.

"We like the position of our site," Mundy said.

[spuwho]

Planned layout of the Town Center Promenade.

Source: The Shopping Center Group

http://properties.theshoppingcentergroup.com/properties/30AcresMixed-UseSJTC/#plans

[jaxjaguar]

It amazes me that the Town Center just continues to sprawl out... How have they not built or even considered to build a garage yet?

[BenderRodriguez]

It amazes me that the Town Center just continues to sprawl out... How have they not built or even considered to build a garage yet?

I'm with this 100%. I'm all for opportunity and expansion, but I'd like to funnel some of that crazy traffic into some well placed garages. I'm sure some enterprising gentlemen can fill in the blanks as far as getting from the garage to the storefront is concerned.

[thelakelander]

The area is a collection of strip malls, some owned by different entities, in the middle of Jax suburbia. The same can be said for similiar developments all over the country. Why spend millions on structured garages if you don't need too? I'm surprised anyone would expect anything different.

[CCMjax]

Wow, what a cluster-F that is going to be.  Still only one road in and out. 

[Captain Zissou]

It amazes me that the Town Center just continues to sprawl out... How have they not built or even considered to build a garage yet?

As the ownership of the area becomes more segmented, the likelihood that a garage will be built gets less and less.  Nobody wants to incur that added expense that the other property owners will benefit from free of charge.  I thought that as the area built up the density would increase, but that does not seem to be the case.

[thelakelander]

I never thought this area would develop into anything different.

First, there's nothing really physically unique or trendy about the town center area, when viewed from a national development perspective. Land platting and infrastructure investment has always been designed to parceled out and eventually developed by different entities. On top of that, there's nothing in our land use regulations for that area of town that would guide future development in a fashion that's anything other than heavily autocentric.

Anyone been around in Florida long enough to see the "before and after" of the following suburban regional shopping centers?

- Millenia Mall and Conroy Road in Orlando

- Florida Mall and Sand Lake Road/OBT in Orlando

- Southland Mall and S. Dixie Highway in Cutler Bay (suburban Miami)

- Lakeland Square and US 98 North in Lakeland

- Altamonte Mall and SR 436 in Altamonte (suburban Orlando)

- Brandon Town Center and SR 60 in Brandon (suburban Tampa)

- Regency Square Mall and Atlantic Boulevard in Jax

In their vicinity, you'll find the same development pattern....just 10, 20, 30 years ahead of town center's age. They basically represent what the town center area will basically become. Development won't go up. It will spread out.

[spuwho]

A local recirculator would actually work better than a garage in this case.

But SJTC exists based on its low CAM, adding a new fixed cost would have to be recovered through the leases. In the short term, that would make it less competitive.

The other issue is that SJTC is fractured in ownership, so it would take either a consolidated commercial interest, or a effort by a public entity to provide a cohesive cross property transit means.

If the public entity provides it, that would push the fixed cost out of the rent structure and into a tax/farebox structure.