Author Topic: Ambassador Hotel Project Seeks Conceptual Approval  (Read 7493 times)

Metro Jacksonville

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Ambassador Hotel Project Seeks Conceptual Approval
« on: May 02, 2013, 01:11:00 AM »
Ambassador Hotel Project Seeks Conceptual Approval



After being directed to go back to the drawing board in March, Birmingham-based Arbour Valley Development is back with more detail on their plans for the restoration of the Ambassador Hotel. Here is a look at the presentation they'll be giving at today's Downtown Development Review Board meeting.

Full Article
http://www.metrojacksonville.com/article/2013-may-ambassador-hotel-project-seeks-conceptual-approval

Jason

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Re: Ambassador Hotel Project Seeks Conceptual Approval
« Reply #1 on: May 02, 2013, 08:44:12 AM »
Looks solid to me. 

fsujax

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Re: Ambassador Hotel Project Seeks Conceptual Approval
« Reply #2 on: May 02, 2013, 08:47:27 AM »
I sure hope they can get this done. Parked in front of the building yesterday, while walking the street thought to myself what a sad, desolate, looking part of downtown. I cant believe the old Independent Life Building is still sitting there unused.

thelakelander

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Re: Ambassador Hotel Project Seeks Conceptual Approval
« Reply #3 on: May 02, 2013, 08:55:15 AM »
^Julia Street is like a scene out of 28 Days Later.  I hope they can pull this off as well.
"A man who views the world the same at 50 as he did at 20 has wasted 30 years of his life.” - Muhammad Ali

fsujax

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Re: Ambassador Hotel Project Seeks Conceptual Approval
« Reply #4 on: May 02, 2013, 08:59:09 AM »
^^good analogy Lake. haha

Wacca Pilatka

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Re: Ambassador Hotel Project Seeks Conceptual Approval
« Reply #5 on: May 02, 2013, 09:05:35 AM »
It's just sad to walk up Julia to eat at Justin's in City Place.  This seems like the beginning of the turnaround the street needs.
The tourist would realize at once that he had struck the Land of Flowers - the City Beautiful!

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Debbie Thompson

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Re: Ambassador Hotel Project Seeks Conceptual Approval
« Reply #6 on: May 02, 2013, 12:41:32 PM »
Ditto, fsujax.  I do wish the federal rehab tax credit for historic buildings didn't just apply to income producing properties.  I wish it could apply to people who rehab buildings for condos too.  I think you only have to maintain it as apartments for five years, but it would be nice to be able to have some loft/condo conversions coming online in historic buildings.

That said, bring on the apartments!  It would be amazing to have this building rehabbed.

TheGeo35

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Re: Ambassador Hotel Project Seeks Conceptual Approval
« Reply #7 on: May 02, 2013, 04:01:24 PM »
Almost a year ago, I profiled the Ambassador Hotel and Julia Street  http://youtu.be/r3wUavybhIw

Tacachale

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Re: Ambassador Hotel Project Seeks Conceptual Approval
« Reply #8 on: May 02, 2013, 04:07:04 PM »
I like this. Looks solid.
Do you believe that when the blue jay or another bird sings and the body is trembling, that is a signal that people are coming or something important is about to happen?

MusicMan

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Re: Ambassador Hotel Project Seeks Conceptual Approval
« Reply #9 on: May 02, 2013, 07:40:33 PM »
Debbie, The John Gorrie got some type of tax credit good for the first 10 years of ownership, and they are condos. There are a lot of hoops to jump through, from what I've heard.

This is a deduction in property taxes. Not "Federal." However, would still be an incentive for developers and end users, it would seem.
« Last Edit: May 02, 2013, 07:43:10 PM by MusicMan »

Debbie Thompson

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Re: Ambassador Hotel Project Seeks Conceptual Approval
« Reply #10 on: May 09, 2013, 08:14:17 PM »
The property tax relief helps the buyers. The federal tax credit helps the developers/rehabbers. You get a tax credit (not deduction...a credit) for rehabbing an historic building into income producing property. So it has to be rentals. Unless I'm mistaken, which is entirely possible. :-)

JayBird

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Re: Ambassador Hotel Project Seeks Conceptual Approval
« Reply #11 on: May 21, 2013, 05:06:23 PM »
Not sure why, but look what popped up on LoopNet last Tuesday.  Apparently, the Ambassador Hotel is once again for sale ($6,000,000).  Guess these plans were dropped? 

Listed by Wayne Sanderson with Easton, Sanderson and Company
http://www.loopnet.com/xNet/MainSite/Listing/Profile/Profile.aspx?LID=18070035&SRID=3322621891&StepID=101
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thelakelander

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Re: Ambassador Hotel Project Seeks Conceptual Approval
« Reply #12 on: May 21, 2013, 05:24:20 PM »
Not sure.  I don't believe the property was ever purchased.  The Birmingham group could still be performing their due diligence and evaluating the project's feasibility.  Assuming it's feasible, projects like this typically still take years to go from conceptual planning to construction and completion.
"A man who views the world the same at 50 as he did at 20 has wasted 30 years of his life.” - Muhammad Ali

JayBird

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Re: Ambassador Hotel Project Seeks Conceptual Approval
« Reply #13 on: May 21, 2013, 05:26:26 PM »
Learn something new everyday.  Hope that is the case, because I really like this design and concept.
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jaxjaguar

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Re: Ambassador Hotel Project Seeks Conceptual Approval
« Reply #14 on: January 19, 2014, 03:27:33 PM »
Something has been going on here for the past few days. Last week there was some sort of construction going on inside. I could here table saws and drills. Today the boards were removed from ALL of the windows and doors. I asked the guys if they knew what was going on. They said they couldn't tell me anything other than all of the windows are being replaced and a security system / cameras are being installed. Anybody know if this is a good sign for it's re-development?