Springfield - Downtown block sold

[Bill Hoff]

A block bordering Springfield and Downtown was sold, adjacent
to Confederate Park. Sounds like he has a good vision for the property.

Full story:
https://www.jaxdailyrecord.com/article/ashourian-buys-springfield-city-block-at-state-and-ocean-streets

[BridgeTroll]

Wow. Very interesting!

[bl8jaxnative]

At this point nothing concrete but it would be great to see the area around Confed Park get something like this.

https://www.jaxdailyrecord.com/article/ashourian-buys-springfield-city-block-at-state-and-ocean-streets

nvestor Justin Ashourian bought an Ocean Street warehouse in Springfield and is marketing the city block for lease.

The building formerly housed NatureForm, a hatchery technology company that moved to North Jacksonville.

Ashourian paid $615,000 for the 29,000-square-foot building at 925 Ocean St., which fronts northeast State and Ocean streets.

The 1.58-acre block comprises the warehouse, built in 1950, and several small structures.

[Captain Zissou]

This is an investor who would like to see a brewery at his property...  It would be nice, but this is purely speculative and wishful thinking.

BRB- Creating threads for "4 Seasons at Shipyards" and "Fortune 500 Headquarters Going in at the District".

[Charles Hunter]

There's another thread linking to the same article, in the Downtown forum. Could a kindly Mod or Admin make them one?

[vicupstate]

What is the status of the adjoining block-size property that had the ratty motel that has been partially demolished.

[thelakelander]

There's another thread linking to the same article, in the Downtown forum. Could a kindly Mod or Admin make them one?

Done. They've been merged, according to time of each post.

[MusicMan]

This is a few steps from the old Claude Nolan Cadillac building owned by PETRA (I think).  Those two could bring a nice density to that area, but I remember reading somewhere that the cleanup at the Claude Nolan site has an astronomical price tag. Does anybody actually know what it would cost?  I know they paid at least $1 million for it, which in hindsight is WAY too much.....

[Des]

This is a few steps from the old Claude Nolan Cadillac building owned by PETRA (I think).  Those two could bring a nice density to that area, but I remember reading somewhere that the cleanup at the Claude Nolan site has an astronomical price tag. Does anybody actually know what it would cost?  I know they paid at least $1 million for it, which in hindsight is WAY too much.....

Petra historically always asks for about 200% above market value. However, I've been in the buildings a few times, it's being sold as a package with the surrounding buildings, and the rehab costs will be very high. It was tough walking around without my foot going through the floor, for example.

[MusicMan]

Thanks Des, I'm specifically referring to the clean up of the ground contamination. The area was home to a coal gasification plant 100 years or so ago, and evidently there is deeply polluted/contaminated soil in the area.

I read somewhere where the cost for cleanup will be in the millions which will basically make that site useless without a big government assisted clean up...

I am pretty sure Lake knows what's up there so I hope he chimes in.

[vicupstate]

Thanks Des, I'm specifically referring to the clean up of the ground contamination. The area was home to a coal gasification plant 100 years or so ago, and evidently there is deeply polluted/contaminated soil in the area.

I read somewhere where the cost for cleanup will be in the millions which will basically make that site useless without a big government assisted clean up...

I am pretty sure Lake knows what's up there so I hope he chimes in.

It is a shame that $20mm  or so wasn't put in the Better Jax Plan to just re-mediate that entire Hogan Creek corridor. That amount might would have done the job back in 2002 or so. There is always be a barrier disconnecting DT and Springfield as long as that brownfield area separates the two.

[bl8jaxnative]

for most folk dodging the hoards of homeless are the barrier.

[vicupstate]

for most folk dodging the hoards of homeless are the barrier.

Renovate those buildings and put tenants in them, and the homeless will mostly hang out elsewhere.