Laura Street Trio in Trouble? Updated status of six key Downtown projects

[Native Girl]

I doubt the Trio will have any impact on the bed tax being able to fund the $45 million amphitheater. These are really two projects, over a mile apart, that don't have anything to do with one another. We should view and treat them that way.

I didn't mean to imply that it would fund the $45 million amphitheater.  It will help to fund the hotel & bed tax fund.  Doesn't it make sense to have more money coming in on a line item than going out?  Less debt.

We can treat them as two separate and different projects but the Trio benefits the stadium in that regard.  I don't foresee how the stadium benefits the Trio.

[thelakelander]

I hope they will.  What I meant though was why hasn't the city made the Trio a priority which has been in front of them for a long time and will provide close-to-immediate tax revenue (he's had the same tenants lined up this whole time) but instead they jump on the Khan wagon that could potentially jeopardize the $300-400 million sure thing they've got coming in?

What's the $300-$400 million sure thing being jeopardized by the stadium proposal?

We can treat them as two separate and different projects but the Trio benefits the stadium in that regard.  I don't foresee how the stadium benefits the Trio.

More downtown events result in more visitors staying in downtown hotels like the Trio's proposed Courtyard by Marriott.

[ProjectMaximus]

I have no issue with the city of Jacksonville having the nicest stadium in the country as long as the epicenter of our city doesn't look like war torn Beirut. 

Great sentence and sentiment. Good luck, Scott! Glad to have you a part of this city and, hopefully, the Laura Trio revitalization!

[edjax]

I doubt the Trio will have any impact on the bed tax being able to fund the $45 million amphitheater. These are really two projects, over a mile apart, that don't have anything to do with one another. We should view and treat them that way.

I didn't mean to imply that it would fund the $45 million amphitheater.  It will help to fund the hotel & bed tax fund.  Doesn't it make sense to have more money coming in on a line item than going out?  Less debt.

We can treat them as two separate and different projects but the Trio benefits the stadium in that regard.  I don't foresee how the stadium benefits the Trio.

Ah. Perhaps people coming to events at the stadium and amphitheater will want to stay at the hotel included in the Trio plan??

[sschwartz2929]

I doubt the Trio will have any impact on the bed tax being able to fund the $45 million amphitheater. These are really two projects, over a mile apart, that don't have anything to do with one another. We should view and treat them that way.

I didn't mean to imply that it would fund the $45 million amphitheater.  It will help to fund the hotel & bed tax fund.  Doesn't it make sense to have more money coming in on a line item than going out?  Less debt.

We can treat them as two separate and different projects but the Trio benefits the stadium in that regard.  I don't foresee how the stadium benefits the Trio.

Ah. Perhaps people coming to events at the stadium and amphitheater will want to stay at the hotel included in the Trio plan??

EdJax is absolutely correct. It is a symbiotic relationship.

[thelakelander]

I have no issue with the city of Jacksonville having the nicest stadium in the country as long as the epicenter of our city doesn't look like war torn Beirut. 

If you feel the same please sign this petition going to city hall:
https://www.change.org/p/encourage-jacksonville-city-officials-to-approve-the-additional-10-needed-to-fund-the-barnett-trio-project?tk=AIKgb2eiuO2NZ0NK7U3hen9uxSr9VQ4gQn_3R7akRz4&utm_medium=email&utm_source=signature_receipt&utm_campaign=new_signature

Welcome to the forum and I look forward to dining at the Bullbriar! Regardless of what happens or doesn't happen with the stadium, under no circumstances should we not invest in improving the core of the Northbank. I agree that the Trio site is essentially ground zero when it comes to activating the Northbank.

[edjax]

I doubt the Trio will have any impact on the bed tax being able to fund the $45 million amphitheater. These are really two projects, over a mile apart, that don't have anything to do with one another. We should view and treat them that way.

I didn't mean to imply that it would fund the $45 million amphitheater.  It will help to fund the hotel & bed tax fund.  Doesn't it make sense to have more money coming in on a line item than going out?  Less debt.

We can treat them as two separate and different projects but the Trio benefits the stadium in that regard.  I don't foresee how the stadium benefits the Trio.

Ah. Perhaps people coming to events at the stadium and amphitheater will want to stay at the hotel included in the Trio plan??

EdJax is absolutely correct. It is a symbiotic relationship.

And I guess I should add eat at your fabulous new restaurant!

[CCMjax]

I doubt the Trio will have any impact on the bed tax being able to fund the $45 million amphitheater. These are really two projects, over a mile apart, that don't have anything to do with one another. We should view and treat them that way.

If possible they should do them at the same time since both investors are ready to break ground now essentially.  If not possible, don't you think it would be smarter to cough up the smaller amount, chump change for a city of a million people, that is $8 million to break ground on a project that is essential to the city of Jacksonville and has been desperately waiting for decades while they could at the same time contributing to the bigger pot that involves the stadium?  Seems reasonable to me, "Hey Mr. Khan, we love your idea and we will work with you, but we need to knock this other essential project out too that requires us to contribute much less."  Khan has billions and he could get started now with his own money if he wanted though he likely won't unless someone else (city) pays for half of it because he will play hardball business man.  This is how he made billions, coming out way on top of business deals like this.  Whether or not he wants to play extreme hardball is up to him.  I think the city should work with him and contribute but I think there can be negotiations rather than "yes sir, here's $45 million!" 

[sschwartz2929]

I have no issue with the city of Jacksonville having the nicest stadium in the country as long as the epicenter of our city doesn't look like war torn Beirut. 

If you feel the same please sign this petition going to city hall:
https://www.change.org/p/encourage-jacksonville-city-officials-to-approve-the-additional-10-needed-to-fund-the-barnett-trio-project?tk=AIKgb2eiuO2NZ0NK7U3hen9uxSr9VQ4gQn_3R7akRz4&utm_medium=email&utm_source=signature_receipt&utm_campaign=new_signature

Welcome to the forum and I look forward to dining at the Bullbriar! Regardless of what happens or doesn't happen with the stadium, under no circumstances should we not invest in improving the core of the Northbank. I agree that the Trio site is essentially ground zero when it comes to activating the Northbank.

Thank you! I look forward to feeding all of you. Let's get it done!

[SunKing]

I am a real poster and a future tenant (the Bullbriar) of the Laura Street Trio (full disclosure).

This has been a long process and for years people have been talking about this project and its potential success and failure. I believe this is the closest we have come to seeing this project come to fruition. Yes it will cost us money but that money will come back to the city and us multiple times over.

On the questions earlier about Steve Atkins and his ability to get it done:

Steve Atkins and the SouthEast Group is only as strong as the team he surrounds himself with.
Who is this "dream team"?

They have partnered with Danis Construction on the renovation and adaptive-reuse of the Laura Trio and the Barnett because they have the experience to meticulously preserve historic structures which in the past include these local projects (just to name a few):
1.   Jake M. Godbold City Hall Annex
   2.   Farah and Farah Law Offices
   3.   Jesse Ball DuPont Center
Between Danis, the lead architects and engineers, they have six local firms that are skilled in historic preservation.

The Molasky Group of Companies, a 65-year old, $2 billion company that not only finances projects, but develops projects for the US Government and Blue Cross Blue Shield, among others.

US Bank who is providing all the senior debt (well in excess of what they are asking the City to approve).

It is important to note that Steve has been vetted by his tenants and partners and we all believe in him, his abilities and the abilities of his assembled team. Also as I mentioned earlier two of the worlds largest and most prominent international brands are tenants and have vetted Steve. Marriott is one and the other wants to make their own announcement. Both are worldwide powerhouses who did their due diligence, signed leases and are ready to invest and be a part of this project.

Let's get behind the revitalization of the epicenter of our city. Make the city something people will want to spend time in. Come for business but stay because Jacksonville is a great place to visit and live. Since bed taxes help to pay for a fraction the stadium perks give people a reason to stay longer. Create a destination not just a stopover. 

I have no issue with the city of Jacksonville having the nicest stadium in the country as long as the epicenter of our city doesn't look like war torn Beirut. 

If you feel the same please sign this petition going to city hall:
https://www.change.org/p/encourage-jacksonville-city-officials-to-approve-the-additional-10-needed-to-fund-the-barnett-trio-project?tk=AIKgb2eiuO2NZ0NK7U3hen9uxSr9VQ4gQn_3R7akRz4&utm_medium=email&utm_source=signature_receipt&utm_campaign=new_signature

thank you Scotty. I really hope it is a success for everyone's sake.  Appreciate you hanging in there.

[jcjohnpaint]

petition signed.  I hope something good happens when you get to 500

[sschwartz2929]

petition signed.  I hope something good happens when you get to 500

Thank You!!!

[edjax]

petition signed.  I hope something good happens when you get to 500

Thank You!!!

Signed it here also.

[fsujax]

I signed it too.

[thelakelander]

I doubt the Trio will have any impact on the bed tax being able to fund the $45 million amphitheater. These are really two projects, over a mile apart, that don't have anything to do with one another. We should view and treat them that way.

If possible they should do them at the same time since both investors are ready to break ground now essentially.  If not possible, don't you think it would be smarter to cough up the smaller amount, chump change for a city of a million people, that is $8 million to break ground on a project that is essential to the city of Jacksonville and has been desperately waiting for decades while they could at the same time contributing to the bigger pot that involves the stadium?  Seems reasonable to me, "Hey Mr. Khan, we love your idea and we will work with you, but we need to knock this other essential project out too that requires us to contribute much less."  Khan has billions and he could get started now with his own money if he wanted though he likely won't unless someone else (city) pays for half of it because he will play hardball business man.  This is how he made billions, coming out way on top of business deals like this.  Whether or not he wants to play extreme hardball is up to him.  I think the city should work with him and contribute but I think there can be negotiations rather than "yes sir, here's $45 million!" 

To be honest, I think most of the discussion in this thread is kind of silly. IMO, it's pretty myopic to debate the validity of completely different projects (with totally different funding sources) against one another, as an either or proposition. In just about every other city of equal size across this country, multiple projects are being funded and constructed simultaneously.  If Jax is to turn the corner, we're going to have to advance beyond this level of conversation and implementation. Not only should the Trio and Everbank improvements move forward, so should others like Healthy Town, 200 Riverside, the Landing, Broadstone Riverhouse, etc. Getting the Trio off the ground has nothing to do with the stadium or Khan's personal bank account. It pretty much boils down to if city leaders believe it's truly important to the community to invest public money into the restoration of these historic buildings and in infill development immediately surrounding them. If so, the $8 million will be found. With that said, building support to save the Trio should focus on the merits of the Trio development itself and the impact it will have in the historic heart of the city. Not a fruitless comparison to a random DT development project at Everbank Field. With that said, I've also signed the petition.