Historic Bostwick Building Demolition Meeting Tonight

[joshuataylor]

Jason Teal returns to the microphone to take his victory lap. I wish I had a bottle of champagne to present to him.

[joshuataylor]

By the way, the Business Journal certainly has an asset in the form of Ashley Kritzer.  She's pretty hypercompetent.

+100

[fieldafm]

Ashley Kritzer reporting that Bostwick is claiming that empty land downtown is being sold for 40 to 50 dollars per square foot, but that the recent fresh market land was purchased at 8 dollars per square foot.

Thats not so good.

They've always had a very 'interesting' sense of the market.

[joshuataylor]

wow.  the Klempfs (who offered to buy the building from the Bostwicks---at their asking price unsuccessfully)  has already spent 60 thousand dollars doing the due diligence on renovating the building as a restaurant and business investment.

His testimony is compelling and absolutely devastating to the Bostwicks.  He extended the contract for the bostwicks six times.  (and his meter is still running, apparently)

He is one of the investors of Ovinte wine bar at the Town Center. it is a hugely successful business venture, and downtown would be lucky to have both he and his business partner Chad bringing a concept to downtown.

[thelakelander]

Ashley Kritzer reporting that Bostwick is claiming that empty land downtown is being sold for 40 to 50 dollars per square foot, but that the recent fresh market land was purchased at 8 dollars per square foot.

Thats not so good.

They've always had a very 'interesting' sense of the market.

More like delusional....

[joshuataylor]

I dont think I realized that he was part of Ovinte. 

Apparently there have been a number of offers for the Bostwick Building all of which have been turned down.

All of the offers are being told that they are denied because the Bostwick's need for more money.

Almost all market valuations of the property are coming in at about 150k for the property.

Lori Boyer demonstrated that the asking price is based on about 100 dollars per square foot.

http://www.jaxdailyrecord.com/showstory.php?Story_id=539429

[joshuataylor]

apparently the city can simply foreclose on the property right now to recoup the lien against the property. Such an action would force the sale of the property to satisfy the lien.

The minimum bid would then start at the amount of the lien (60k) and if no one met the minimum bid then the city would simply take the property for satisfaction of the lien.

The back of Bostwick's neck is cherry red right now.

from my viewpoint, Stephen, it matches the purple of his face quite nicely

[edjax]

Why do I get the feeling if the Bostwicks don't get their way on this we in the future will see a large cement truck losing control while coming down the Main St bridge and take out that building?

[Charles Hunter]

It sure is a shame those nasty homeless people broke into the building, and the fire they lit to keep warm got out of control ...

[JeffreyS]

I know the city won't take the property right now but perhaps it should.

[joshuataylor]

Jim Overton - The selling price for the Haydon Burns Library was ~$24psf, the most recent sale of the Laura Street Trio was ~$11psf, the Property Appraiser has placed the value of The Bostwick Building between those two, at ~$14psf.

[joshuataylor]

public hearing is closed.

Holt moves to amend the petition to deny the demolition permit, which is seconded by Bishop.

...And Bill Bishop elects to hammer a few more nails into Mr Bostwick's smug sense of pride before the vote

[joshuataylor]

The Appeal To Demolish is Denied 7-0

[Steve]

Wow, catching up on this, is this the JACKSONVILLE City Council?

In all serious, this should tell folks that demolition through neglect is unacceptable.

[Steve]

And that the Bostwicks have the same understanding of value as a 2006 real estate speculator.