GNP Development to restore former JEA Tower

[Tacachale]

This is awesome news whichever way it goes. Can't wait to see what they've got planned for it.

[KenFSU]

I sure hope they don't need incentives.

of course they will need/seek incentives

Per the Jax Business Journal:

"We are expected to spend $20 million restoring the current structure, which will include a parking garage. Should the market warrant adding the additional 80,000 square feet, we would be spending $31 million on the entire project."

The developer is looking for a retailer to occupy 15,000-square-feet of retail space on the first floor, as well as businesses to pre-lease or build-to-suit office space. Larger leases in 2,000-square-foot range would receive an ownership percentage in the property, and GNP would provide all the capital and build out costs, Gerenger said.

GNP doesn't have tenants nailed down yet, but Gerenger said he's in talk with two law firms.

Gerenger said he's been working on the project since 2013. Architectural renderings of the project were created by Dasher Hurst Architects several years ago and have been posted on the firm's site for at least a year.

Full story: http://www.bizjournals.com/jacksonville/news/2015/04/09/developer-proposing-31-million-project-at-former.html

[Jaxson]

I agree with the poster who will believe it when it actually happens.  Maybe I am getting older, but I don't like getting my hopes up only to have nothing happen...

[thelakelander]

Wow. GNP is buying the building for $2.1 million. That's 1/3rd the cost of turning the little Bostwick building into a restaurant.

[acme54321]

Wow. GNP is buying the building for $2.1 million. That's 1/3rd the cost of turning the little Bostwick building into a restaurant.

Speaking of that...  What's up with that?

[tufsu1]

Wow. GNP is buying the building for $2.1 million. That's 1/3rd the cost of turning the little Bostwick building into a restaurant.

maybe so...but they also expect to spend $20+ million redoing the building

[thelakelander]

Former JEA building on Duval Street sold for $2 million in Jacksonville

The former headquarters for JEA was sold for $2 million last week, according to Duval County Clerk of the Court records. West Duval Towers llc. bought the property at 233 W. Duval Street on Dec. 28 from Chris Hionides's 233 W. Duval Street llc. The transaction occurred after the courts assigned the property to Iberiabank during foreclosure proceedings.

Full article: http://www.bizjournals.com/jacksonville/news/2016/01/05/former-jea-building-on-duval-street-sold-for-2.html

[fsujax]

Wonder if this means anything will actually progress with this building?

[brainstormer]

I would love to see something happen with this building! Perhaps it will become part of the changing urban landscape of 2016. The building needs a lot of work, but they only paid $2 million for it. I wouldn't think they would buy it just to have it sit empty.

[Marle Brando]

This seems to be an ideal spot for the relocation of the Duval County School board headquarters as it'd offer a great centralized location downtown as well as ownership percentage in the structure shall they choose to move there. Hopefully they look into this as it would provide a permanent tenant to this building and fill space needed to get this project off the ground much sooner.

[thelakelander]

One problem with the DCSB. In The Resident article this month, Vitti said they would want lots of parking. The JEA Tower has very little.

[Marle Brando]

Right, I remember seeing that stated as a condition of relocation. I assumed the proposed parking structure next to the building would provide enough parking but I guess that is unknown and dependant upon how many spaces Vitti requires and how many would be left for other building tenants.

[CCMjax]

One problem with the DCSB. In The Resident article this month, Vitti said they would want lots of parking. The JEA Tower has very little.

Lots of parking???  Looking at Google Maps I count 8 parking structures within close proximity to this building.  God forbid employees would have to walk 1 to 3 blocks to get to their office.  It may be worth mentioning to the general public that it is actually healthy to walk a little bit to your mode of transportation instead of plopping out of your car at the entrance of your office to then plop into the seat that you will remain at for the next 8 to 9 hours each day.  I have never seen those parking structures full, even on week days.  You'd think some dedicated parking could be arranged without the need for more parking options.  The whole parking mindset in Jacksonville and similar totally car dependent cities is mind boggling to someone who has lived in cities where people are actually willing to walk a little bit to work.  It is a complex that is preventing a lot of progress in this city. 

With that said though, if they want surface parking like they have now, would relocating to the area near Jefferson and State be better with the other public offices over there?  It is actually a fairly nice campus and looks like there is still some vacant property.  Or heck, anywhere on a vacant lot in La Villa with the parking hidden from street view.

[brainstormer]

https://www.linkedin.com/pulse/jacksonville-redevelopment-233-w-duval-street-stephen-arrivello

http://www.loopnet.com/Listing/19161667/233-West-Duval-St-Jacksonville-FL/?Intcpt=false&linkcode=29230&StepID=105&sourcecode=1aeewc015a00312

Based on these two postings from 2015, I would say they are actively moving on the redevelopment. BTW, it is nice to read Jacksonville described in such a positive way! Closing the sale is a good first step. Plans include adding a parking garage, so actually a possible DCPS move isn't that far-fetched. I think it would be a great location for the school board building.