Retail-less parking garage to receive final approvalOctober 11, 2012 64 comments Print Article
The Downtown Development Review Board Staff has decided to recommend final approval of Parador Partners' revised retail-less parking garage project for this afternoon's DDRB meeting. Here is a look at what will be constructed in the heart of the Northbank.
Previous Version of Proposed Garage
Revised Version of Proposed Garage
As opposed to providing street retail within the project now, the developer will be allowed to add retail at an undetermined later date. That date will be after the nearby Suntrust Tower achieves 65% occupancy. Occupancy currently stands at 20%.
With this in mind, the City of Jacksonville will give Parador Partners $3.5 million for constructing their 500 space parking garage. In return, Parador will allow 200 daily and 375 night and weekend public spaces on a first come, first serve basis to benefit the Jacksonville Landing and other surrounding commercial businesses and public venues.
The Downtown Development Review Board Staff recommends approval for the following deviations:
1. Deviation from Section 656.361.16 Off-Street Overlay to not provide required 50% retail for the building frontage on Bay Street until retail market conditions warrant subject to DDRB final approval of conditions 1 and 2.
2. Deviation from Section 656.361.18 Transparency to not provide the required 50% transparent design requirement between the height of 2 and 10 feet on 80 feet of the Bay Street building façade frontage until retail market conditions warrant subject to DDRB final approval of conditions 1 and 2; and.
Final approval for DDRB Application 2012-006, subject to the following conditions:
1. In lieu of seeking a deviation to Section 656.361. 16 Off-Street Overlay Requirements to reduce the commercial/retail requirement of 50% of street frontage on Hogan Street, the applicant shall agree to provide building tenant occupancy monitoring reports for the Sun Trust Tower to the DIA Board staff on a semi-annual basis with reports delivered in June and December of each year after DDRB approval of Phase 1 of the project until the 65% tenant occupancy rate of the Sun Trust Tower located at 76 South Laura Street is achieved. Within one year after a 65% occupancy rate is achieved, the applicant shall commence construction of the DDRB approved plan for the commercial/retail space and complete the space with active tenants in place within 12 months of commencement (Applicants Commercial/Retail Mitigation Strategy).
2. The applicant to submit to the DDRB Staff for review and approval the architectural and landscape improvements addressing the security and loitering issues for the transition space connecting the proposed garage with the entrance to the Sun Trust Tower prior to permit approval.
Future retail build-out if the adjacent Suntrust Tower reaches 65% occupancy.
Today's 2:00 p.m. Downtown Development Review Board (DDRB) meeting will be held at:
Jacksonville City Hall
117 West Duval Street
1st Floor, Lynwood Roberts Room