Plans for Proposed Forsyth and Main Parking Garage Grow

[Captain Zissou]

I'm totally confused by this one. Every single rendering had the garage going to the sidewalk of Laura Street, thus encompassing this parking lot. I completely assumed this arrangement/agreement was already handled.

So we've been showing (literally) years of renderings on this without an agreement for this property? I mean, it sounds like they're close to an agreement but I'm really surprised.

Same.  I thought this was done years ago...

[Charles Hunter]

Regions Bank owns the corner surface parking lot at Laura and Forsyth. To have street level retail, they're trying to buy it from Regions.

The article talks about the Regions lot allowing more parking spaces within the garage, and says nothing about increased retail.
I share Steve's confusion, the previous renderings (in the first post of this thread) show the garage going all the way to the Laura Street sidewalk, with what appears to be retail along Laura (the rendering is too small to read, and won't enlarge on my device).  Sounds like this puts Regions in the driver's seat - the approved garage requires their property, how much is that little parcel worth ... now?

[thelakelander]

I'm totally confused by this one. Every single rendering had the garage going to the sidewalk of Laura Street, thus encompassing this parking lot. I completely assumed this arrangement/agreement was already handled.

So we've been showing (literally) years of renderings on this without an agreement for this property? I mean, it sounds like they're close to an agreement but I'm really surprised.

Just goes to show that renderings don't mean squat when it comes to reality. The land was never in a single entity's possession.

[thelakelander]

Regions Bank owns the corner surface parking lot at Laura and Forsyth. To have street level retail, they're trying to buy it from Regions.

The article talks about the Regions lot allowing more parking spaces within the garage, and says nothing about increased retail.
I share Steve's confusion, the previous renderings (in the first post of this thread) show the garage going all the way to the Laura Street sidewalk, with what appears to be retail along Laura (the rendering is too small to read, and won't enlarge on my device).  Sounds like this puts Regions in the driver's seat - the approved garage requires their property, how much is that little parcel worth ... now?

Plans for the garage expansion include about 12,600 square feet of ground-floor retail......if they can get the Region's parking lot.

[Steve]

I'm totally confused by this one. Every single rendering had the garage going to the sidewalk of Laura Street, thus encompassing this parking lot. I completely assumed this arrangement/agreement was already handled.

So we've been showing (literally) years of renderings on this without an agreement for this property? I mean, it sounds like they're close to an agreement but I'm really surprised.

Just goes to show that renderings don't mean squat when it comes to reality. The land was never in a single entity's possession.

Part of me wonders if this was procedural the entire time, otherwise this is baffling to me. The DIA brokered the deal for the Barnett and Laura Trio 5 years ago. The garage rendering included this lot the entire time. At some level there had to be a recognition that land that neither Atkins or COJ controlled involved.

At a minimum when VyStar came to the table they had to recognize it. Perhaps they just didn't want to buy the property until they were absolutely ready to break ground? If you don't own the land then you don't have to pay taxes on it.

[Steve]

The more I read this, I'm convinced this is procedural. The article today indicates an expansion to 798 spaces. But, Daily Record's own article from  December 2018 shows 807 spaces.

https://www.jaxdailyrecord.com/article/forsyth-street-garage-approved-for-construction

[thelakelander]

When VyStar took over the project, it dropped to 550:

The article>

VyStar will build Downtown parking garage near Laura Street Trio
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DIA partially terminates lease with Barnett Tower LLC.
by: Katie Garwood  Staff Writer
The Downtown Investment Authority voted Wednesday to partially terminate a lease agreement between Barnett Tower LLC and the city to construct a parking garage at the southwest corner of Main and Forsyth streets.

VyStar Credit Union will instead purchase the property for $943,403 to construct the garage.

As part of the terms of the agreement, it will construct at least 550 spaces, and lease up to 250 of those spaces to the city for tenants in the Barnett Building and Laura Street Trio.

Until the Laura Street Trio is complete, VyStar will lease up to 125 spaces to the city.

The redevelopment agreement between Barnett Tower LLC and the city stated that the Barnett Building and parking garage must be "substantially completed" within three months of each other.

The Barnett's substantial completion deadline was Sept. 13.

On Wednesday, developer SouthEast Development Group announced the city issued a certificate of occupancy for The Barnett Building at 112 W. Adams St.

The certificate allows for marketing of the remaining apartments and retail space.

Work on the remaining commercial and retail spaces will continue through the first quarter of 2020. The 107 apartment units began leasing in April, and half are rented.

SouthEast Development Group now will shift toward the group's second phase of the project – the Laura Street Trio.

I would not be surprised if the number of floors have/will change as well.

[Steve]

Yep, I see that. I bet it has to through DDRB (again) too.

[Ken_FSU]

I'm totally confused by this one. Every single rendering had the garage going to the sidewalk of Laura Street, thus encompassing this parking lot. I completely assumed this arrangement/agreement was already handled.

So we've been showing (literally) years of renderings on this without an agreement for this property? I mean, it sounds like they're close to an agreement but I'm really surprised.

Just goes to show that renderings don't mean squat when it comes to reality. The land was never in a single entity's possession.

Swerve - Hyatt owns it.

They right-of-first-refusal'd Steve Atkins and are saving it for a 300-square foot, no-frills convention center.

[marcuscnelson]

#GameChanger!