Jacksonville P&C Discussion Thread

[bobliocatt]

Jax Daily Record news briefs:

Upscale Women's Shoe Store to open soon

[TheUrbanCore]

NEVER underestimate the draw of a nice womens show store.

By the way guys, save the date for the Sept 1 art walk. Its going to be awesome. Debut of the Sea Cows too.

[Urban_Legend]

^^I know the Landing is far from trendy. My point was, a pharmacy really doesn't mix with Twisted Martini and Hooters. I agree that Adams or Forsyth would have been good choices. Maybe on the ground floor of 11E. But then again, Atlanta Bread was supposed to move into 11E. Whatever happened to those plans?

[bobliocatt]

I haven't heard anything lately about Atlanta Bread. The deal might be delayed or worse........dead.

[vicupstate]

I agree with Lakelander on the pharmacy. It will help add to the M-F lunch crowd, and also bring in office workers after work, who might need something. With adding space to the Landing, there should be room to add new

[vicupstate]

I agree totally with Urban Core on the Women

[bobliocatt]

LaVilla building renovation planned

by Bradley Parsons

Staff Writer

A Denver architecture firm has the inside track to buy and develop one of the last City-owned parcels of LaVilla land.

The Jacksonville Economic Development Commission will enter into negotiations with Bertram Bruton, principal of BAB Associates. The City selected Bruton over three competing proposals for developing a two-story building at 324 N. Monroe Street.

Al Battle, the managing director of the Downtown Development Authority, said Bruton offered a competitive price for the building and an adjacent parking lot and planned to develop in line with the City

[Urban_Legend]

I'm so glad someone's finally renovated that eyesore! I hope his plans work out, because there's been some recent problems with the Historic Trust Fund. But maybe he won't need incentives at all.

[vicupstate]

Does anyone know what the buyer of this building on Forsyth plans to do with it?

The Brooklyn Design & Arts Center, a non-profit arts studio and design space at 123 E. Forsyth St. downtown, is relocating to 1054 Kings Ave. in San Marco, effective Wednesday.

The Florida Ballet -- which has been sharing the Forsyth location with Brooklyn for the past three years -- sold the building across from the Florida Theatre and found a new space at 300 E. State St. downtown. Susan Adams, administrative director of The Florida Ballet, said the ballet hopes to move into its new location and start classes by Tuesday, Sept. 7.

[bobliocatt]

I don't know, hopefully its something entertainment oriented or a nice restaurant or wine bar that would complement the Florida Theater and the Bay St. Town Center.

[wolfdawg54]

It will definitely help boost the area around Bay Street and downtown.

[vicupstate]

Developers switching to office condos at 323 Duval

10-story buildings scheduled to go across from new Duval County Courthouse.

By M.C. MOEWE

The Times-Union

Citing the soft market for leased office space, a group of developers have decided against building rental space and instead plan to go into the relatively untried downtown office condominium business.

Sam Easton, a managing member of 323 Duval LLC, said his company plans to erect two 10-story office condominium buildings across from the new Duval County Courthouse site. Previous plans called for one building of leased office space.

"The rental rate would never justify the cost of the project," Easton said. He said the partners met Wednesday and voted on the change of plans. "The economics of doing condos made more sense."

Downtown has a 17.25 percent vacancy rate for office lease space, said Oliver Barakat, senior associate with CB Richard Ellis, a real estate brokerage firm that tracks downtown trends. The office condos would be the first downtown in decades.

"They're really pioneering," Barakat said.

Plans include a 331-space parking garage and 15,000 square feet in retail space, Easton said.

Construction of the first 100,000 square-foot building is tentatively scheduled to begin early next year, he said. The developers plan to tear down the Marine National Bank building in 2006 to make room for the second building.

One of the partners in the company, Farah & Farah law firm, intends to use 30,000 square feet of the new building for its headquarters, Easton said. "Keep in mind you're close to the federal and county courthouses," Easton said. "That's an awful good location for legal professionals."

The appeal of property appreciation and tax write-offs associated with owning your own space are other pluses, Easton said.

Tentative pricing is about $200 a square foot, with tenants finishing the interior to suit their needs, Easton said.

That price seems high, Barakat said, but added there is little to compare it with. The Blackstone Building on Bay Street is the only other downtown office condo building he could recall. An owner there said space sells for about $70 a square foot.

Joan Fernandez, owner of Executive Reporters, a court reporting business, said she bought her condo at the Blackstone in 1971 for about $35 a square foot. "Every time you move you have to spend a significant amount of money to remodel," Fernandez said.

There are pluses and minuses to owning, but she doesn't hesitate to say she'd again buy before renting. The ability to sell off space is a benefit, she said. Not being forced to move when your landlord changes plans is another.

Fernandez is on the Blackstone Building Association owners board and said vacancies in her building are rare; she pointed out that there is only one unit on the market.

Isn't the Marine building historic? If it is the building I think it is, I would hate to see it torn down. I hope I am thinking of a different building.

[bobliocatt]

Yes, the Marine National Bank a historic 3 story building, just south of the Ambassador Hotel. Does anyone have any pics of the building, before the 1960's era tile facade was added?

If I had my way, I'd combine the two into a 20 story signature office tower and renovate or sell the older bank building.

Another thing I noticed is that the Farah & Farah Law Firm would relocate to this tower. That would free up the dead spot they're taking up on Adams.

[wolfdawg54]

I would hate to see it torn down too but at the same time I am thrilled at the development. I am torn between the two buildings.

[vicupstate]

I thought I would list some projects that haven't had any recent news (that I am aware of). If anyone has any inside knowledge, please pass it along.

1) Decision on Florida Coastal School of Law relocation - August decision was expected, hopefully something will break soon.

2) Ambassador Hotel - Recent news on adjacent construction within the same block may mean a update on this shortly.

3) YMCA relocation to opposite side of Riverside Ave. - No news in many months.

4) New YMCA branch in 100 N Laura building - Downtown This Week very briefly mentioned this as a pending deal. No other publication reported it and no further details. I assume this would be a relocation of the Bank of America building branch.

5) New Marks Gray Law firm building on Riverside Ave. - An expansion from the original proposal was announced a few months back, but nothing since.

6) Berkman Plaza Phase 2 - When the first phase was sold, it was mentioned that the next phase could start as early as last January. Not a word since. Surprising since the building leased well as an apartment project, and is selling well now as a condo development.

7) Office project made up of train cars near Alltell stadium. Plans were approved about 6 months or so.

8) Westin Hotel across from Landing - I assume that Westin has cancelled this plan, to instead be a part of the Radisson property development. It would be nice to get a confirmation of that though.

9) Old Independent Life building - Since the plans were approved by the Design Review Committee, nothing else has come out. JEA sold the building after two parties bid for it.

The Convention Center study is due out this month as well. It will be interesting to see what it says.

[bobliocatt]

^Vic, I'll email this information over too Mary Moewe (M.C. Moewe) at the Florida Times-Union. I told her, last week, that I would give her a list of downtown projects that needed updates, but I never got around to doing it.

I told her about the 323 Duval rumors that had been floating around here, and she had an updated story in the paper the next day. So she's pretty quick.

[vicupstate]

Great!! Thanks Lakelander!! You're a big part of making this Forum so informative and enjoyable.

[Fruit Cove]

Yea lakelander youre really great. thanks for keeping us soo informed.

[bobliocatt]

I just typed up an email for Mary. I also included the following projects:

1. Ortega Yacht Club condo tower (20 stories/ 80 units)

2. Churchill Development Group

3. Fidelity National Financial (new office/condo/hotel tower project)

4. Churchwell Lofts

5. Ashley Oaks (3 story mixed-use building in LaVilla)

6. LaVilla Bistro (new 7,921 sf dining establishment in LaVilla)

7. The Loop (potential downtown location)

8. Atlanta Bread (potential 11 East Forsyth location)

9. Shogun Japanese Restaurant (100 Laura Street)

10. Blues Club (2nd floor of the Amsterdam Sky Cafe building)

[Dale]

You do great work, lakelander. I appreciate all that you do.

[vicupstate]

Lakelander, I am not familiar with number 5 on your list. Is there a string here with some info on that? Thanks.

[bobliocatt]

^here's a link to the breif article published in the Times-Union, back in March.

Times-Union article link

------------------------------------------------------------------------------------------------

(this is a pasted section)

Downtown

In addition to what could become the city's tallest buildings, a downtown committee also approved designs last week for more projects.

Among projects reviewed by the Downtown Development Authority Design Review Committee:

Final design approval for the proposed parking garages at the arena and sports complex.

Final design approval for Ashley Oaks, a mixed-use development at Ashley and Jefferson streets next to Clara White Mission in La Villa. Plans show a three-story building with 8,161 square feet of commercial space on the ground floor and two floors of one-bedroom apartments, comprising 10 units per floor. Administrative offices also are shown on the site. CWN Inc. is the developer.

Final design approval for Jax Casual Dining, a 7,921-square-foot restaurant at Beaver, Davis, Madison and Union streets in La Villa.

Conceptual approval for Rail City Junction, a 1.9-acre site at 1740 E. Adams St. comprising 24 refurbished rail-cars used as office and entertainment. The $8 million project, planned under a Hart Bridge ramp, could be completed in October.

As we reported on Friday, the committee approved the conceptual designs for the proposed Waterside Condominiums, two 48-story towers on the Southbank of the St. Johns River, on either side of the Aetna building at 841 Prudential Drive.

Krook Douglas Development LLC, affiliated with the ownership group of the Aetna property, proposes to build 550 residential units among the towers. Developers have not decided whether to build apartments, condominiums or a mix. If condos were in that mix, prices would start less than $200,000.

Developers said it was too early to discuss whether they would seek city incentives, although the city has issued incentives for most recent downtown housing deals.

South Shore Group Partners LLC, led by Jeffrey Douglas and Hal Dodt, bought the Aetna building for $39 million in January. The investors said after the acquisition that they wanted to build one or two 200- to 250-unit high-rise residential buildings along with a marina.

It could take three years to complete the towers, developers said last week.

[vicupstate]

Thanks Lakelander, I remember this one now.

[wolfdawg54]

Well, I am alive and I have survived the hurricane scare. No damage here except for the phone lines but they have been repaired. How did you fare?

[Urban_Legend]

I live near West Palm, and the damage was horrible. So many trees were down and there was alot of flooding. But we're fine, and now I have my A/C and my computer,

Here's some interesting tidbits I found in today's Daily Record:

No word yet on whether Snyder Memorial