$135 Million redevelopment of Berkman II proposed

[thelakelander]

Couldn't get the building demolished but people are expecting them to deliver the second tallest building in Jax......when there's clearly no market for a product of that scale? Good luck but I'm highly skeptical at this point.

[RatTownRyan]

I feel the same way about the Southeast proposal for the Landing/ Ford on Bay. Why would I be excited for such an extensive project when the Trio seems to be difficult enough for them to pull off.

[CityLife]

Couldn't get the building demolished but people are expecting them to deliver the second tallest building in Jax......when there's clearly no market for a product of that scale? Good luck but I'm highly skeptical at this point.

The Park Beeler guy has no history of development either. Projects like this are not for amateurs and it shows. He's likely touting grand plans to try to buy more time so that COJ doesn't foreclose immediately or to try to give himself a little leverage in sales negotiations with a prospective buyer. At this point, I doubt COJ or other developers have any faith in his ability to pull this off.

It's tough for people to admit defeat, especially when they thought they were going to build a legacy project. But the reality is this guy needs to cut the crap and shop the property immediately to one of the many competent and capable developers that are interested in developing Downtown Jax. If not, COJ is going to drink his milkshake.

[Josh]

Couldn't get the building demolished but people are expecting them to deliver the second tallest building in Jax......when there's clearly no market for a product of that scale? Good luck but I'm highly skeptical at this point.

The Park Beeler guy has no history of development either. Projects like this are not for amateurs and it shows. He's likely touting grand plans to try to buy more time so that COJ doesn't foreclose immediately or to try to give himself a little leverage in sales negotiations with a prospective buyer. At this point, I doubt COJ or other developers have any faith in his ability to pull this off.

It's tough for people to admit defeat, especially when they thought they were going to build a legacy project. But the reality is this guy needs to cut the crap and shop the property immediately to one of the many competent and capable developers that are interested in developing Downtown Jax. If not, COJ is going to drink his milkshake.

Personal legal issues notwithstanding, guy seems like a snake oil salesman.

https://www.metrojacksonville.com/forum/index.php?topic=15602.0

https://www.bizjournals.com/jacksonville/stories/2004/05/17/story1.html

[acme54321]

Just under 12 hours to go.  What are the odds that this actually happens?

[thelakelander]

It happened. Odds were 100% once city money was committed to the demo. The bigger question is what are the odds of this high rise proposal actually becoming reality in our lifetimes? My prediction is zero percent.

[jaxoNOLE]

It happened. Odds were 100% once city money was committed to the demo. The bigger question is what are the odds of this high rise proposal actually becoming reality in our lifetimes? My prediction is zero percent.

The demo is a win by itself. Another process that took way longer than it should have and ended up costing taxpayers, but it's done, and that will make the property much more attractive to serious developers who didn't want to deal with that headache.

Speaking of odds, what's the line on this ending up as an Iguana venture too?

[thelakelander]

I'll say 20%. Seems like Iguana will have their hands full with the foreseeable future by focusing on properties east of Hogans Creek.

[MusicMan]

I can't imagine the feelings of joy and relief for anyone in Berkman I who had to stare out their window at that junk for 15 years. Gonna be some partying over there tonight!

[vicupstate]

I'll say 20%. Seems like Iguana will have their hands full with the foreseeable future by focusing on properties east of Hogans Creek.

I'd say at least 40%, because the city will likely own the land soon, and Iguana would rather have control over it and prevent any competition to their projects.   

[thelakelander]

Like clockwork, a new rendering is out!

https://www.jaxdailyrecord.com/photo-gallery/pb-riverfront-releases-new-concept-for-former-berkman-ii-property

[Charles Hunter]

After value engineering and budget realities, it will end up as a 10-story version of the 3-color apartments we are seeing all over Jacksonville.

I laughed at one of the local news reports about the implosion tonight. They were talking to someone who lives in the Berkman who was gushing over their new view of the Hart Bridge and Sports Complex.  If the Beeler comes through, bye-bye view (if I'm right, they may still be OK).

[jaxoNOLE]

I truly wish Beeler & Co the best, and its would be great if they succeed. But, for goodness sake, they need to have the decency to succeed or fail quickly, so we can see some progress this year. If any element of their proposal requests a timeline extension, the city needs to take a hard line and move on.

[acme54321]

Can't wait for the city to foreclose on this place then fumble around for years trying to market it as the latest and greatest vacant lot.

[jaxoNOLE]

A real Sophie's choice: Beeler or COJ?