Mixed-use project proposed for Ambassador Hotel block

[thelakelander]

If they aren't able to pull the Ambassador off as a hotel, I do wonder how it will impact the other two projects tied to it?

[heights unknown]

I'm fine with it at this point. I rather see the retail of the various developments clustered together as opposed to spread out at random locations of each site. The retail is pushed to Julia in the Marine National Bank, the Ambassador and the Independent Life Building. If we zoom out a bit, this also aligns with the clustering of retail along Julia with the JEA headquarters and the redevelopment of the Porter House block. By the same token, if we zoom out and look at the surrounding area, Pearl is more of a service street. What's happening here is something the DIA should have attempted on a much larger level through the core of downtown. Identifying retail vs service corridors.

Great assessment and post Lake...thank you. However, as you well know, they NEVER think through ANYTHING; they almost ALWAYS act on impulse and "knee jerk" assertions.

[tufsu1]

https://www.jaxdailyrecord.com/article/ambassador-hotel-developer-asks-dia-for-more-time-to-secure-financing

Looks like the flag has switched from La Quinta to TRYP by Wyndham.

still the same parent corporation - TRYP makes more sense and may help in securing financing (higher end chain)

[marcuscnelson]

They're getting their extension.

https://www.jaxdailyrecord.com/article/dia-board-grants-extensions-to-ambassador-hotel-developer

Hopefully it's enough.

[thelakelander]

100% complete by December 31, 2022?! A historic restoration at that? I'll be surprised if they get that building done by then. I assume that they still need DDRB approval for the exterior?

[landfall]

Its amazing how even these restorations let alone new construction move at a snails pace.

Shows you how weak the market is. Yet in Southside, SJC they fire these projects out.

[Zac T]

Its amazing how even these restorations let alone new construction move at a snails pace.

Shows you how weak the market is. Yet in Southside, SJC they fire these projects out.

To be fair, there's not much historic restoration being done in the Southside

[heights unknown]

I don't think it's the market per se, maybe, but I think it's more Jax than anything.

[Zac T]

Ambassador Project should begin this month after securing a construction loan.

Augustine Development Group President Bryan Greiner told the Business Journal via email that the group closed on a construction loan Wednesday that will allow it to move forward with a project to redevelop the historic Ambassador Hotel building.

https://www.bizjournals.com/jacksonville/news/2021/07/02/ambassador-hotel-project-secures-construction-loan.html

[thelakelander]

Great news to hear!

[heights unknown]

Ambassador Project should begin this month after securing a construction loan.

Augustine Development Group President Bryan Greiner told the Business Journal via email that the group closed on a construction loan Wednesday that will allow it to move forward with a project to redevelop the historic Ambassador Hotel building.

https://www.bizjournals.com/jacksonville/news/2021/07/02/ambassador-hotel-project-secures-construction-loan.html

Good, and, great news. Drove by there this morning and boy what a depressing looking eyesore. I had many a good times though in that basement lounge.

[Zac T]

The DDRB unanimously approved the plans to turn the Ambassador Hotel into a La Quinta Inn & Suites. Big win for downtown

[heights unknown]

The DDRB unanimously approved the plans to turn the Ambassador Hotel into a La Quinta Inn & Suites. Big win for downtown

YAYYYYY!!!!!!!

[thelakelander]

Permit in hand:

https://www.jaxdailyrecord.com/article/city-issues-permit-for-dollar4-million-in-ambassador-hotel-improvements

[jaxjaguar]

Permit in hand:

https://www.jaxdailyrecord.com/article/city-issues-permit-for-dollar4-million-in-ambassador-hotel-improvements

Never thought I'd see the day this would happen... Glad to read the developer plans to revitalize those 2 blocks. That's a huge win for an area that's been dead for 2+ decades. Imagine buying up a few units in City Place back when they were going for $10-15k around 10 years ago. Those owners are going to make bank.