Author Topic: Laura Street Trio to be Marriott Flagged Boutique Hotel  (Read 28156 times)

TheCat

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« Last Edit: August 19, 2013, 10:14:10 AM by TheCat »

Tacachale

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Re: Laura Street Trio to be Marriott Flagged Boutique Hotel
« Reply #1 on: August 19, 2013, 10:07:19 AM »
This was reported in the Florida Times-Union yesterday:

Quote
Hotel, restaurants, bank planned for historic Laura Street Trio downtown
Posted: August 17, 2013 - 11:38pm  |  Updated: August 18, 2013 - 6:52am

By Roger Bull   

The Laura Street Trio, three historic and vacant buildings at the heart of downtown, will become a complex featuring a Courtyard by Marriott hotel, two restaurants, a commercial bank and a rooftop bar, its owner told the Times-Union exclusively.

The entire project, which will include adding another building and a parking garage, will cost about $40 million, said Steve Atkins, who heads Southeast Development Group that purchased the three buildings, along with Barnett Bank, in March for $3 million.

The money was borrowed from Stache Investments Corp., which is headed by Jaguars owner Shad Khan. But Khan is not involved in the redevelopment of it, Atkins said.

...

Read more at Jacksonville.com: http://jacksonville.com/business/real-estate/2013-08-17/story/hotel-restaurants-bank-planned-historic-laura-street-trio#ixzz2cQKa5eQ1


It's basically the plan Atkins's group has discussed before, with a few differences; most significantly, Shad Khan's Stache Investments is providing the financing.
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fsujax

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Re: Laura Street Trio to be Marriott Flagged Boutique Hotel
« Reply #2 on: August 19, 2013, 10:14:10 AM »
I hope this works out. What happens if the $9million goes away?

Stephen

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Re: Laura Street Trio to be Marriott Flagged Boutique Hotel
« Reply #3 on: August 19, 2013, 10:20:58 AM »
What a wonderful concept and a great start to a new downtown for Jacksonville. I hope this spurs other development which is innovative.

Steve Ducharme

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Re: Laura Street Trio to be Marriott Flagged Boutique Hotel
« Reply #4 on: August 19, 2013, 10:28:31 AM »
Would love to be privy to the notion that there might be a quid-pro-quot between this loan from Stache and the stadium renovation tax dollars.  I wouldn't "necessarily" have a problem with it but it'd be interesting to know how much mutual back scratching went on.

Dapperdan

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Re: Laura Street Trio to be Marriott Flagged Boutique Hotel
« Reply #5 on: August 19, 2013, 10:30:58 AM »
Very good news. I don't remember in my time here in Jacksonville a hotel that deep into downtown. There is a building next to it that was going to house the Loop that I am sure would be developed now that a hotel is next to it. Very exciting. Lets hope the city gives them the incentives they want.

Garden guy

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Re: Laura Street Trio to be Marriott Flagged Boutique Hotel
« Reply #6 on: August 19, 2013, 10:48:07 AM »
So..does this mean public money will be handed over to create a place the citizens of jax cant afford?..to pay high salaries to the ceo to manage?

CityLife

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Re: Laura Street Trio to be Marriott Flagged Boutique Hotel
« Reply #7 on: August 19, 2013, 10:54:02 AM »
Hopefully Council will look at this and the other DT projects that want part of the $9 million for the net benefit they will provide to DT and the city as a whole, and not let politics get in the way.

johnny_simpatico

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Re: Laura Street Trio to be Marriott Flagged Boutique Hotel
« Reply #8 on: August 19, 2013, 10:54:15 AM »
1.  I seem to recall that the Atkins Group was one of the bidders 10 years ago or so that wanted to demolish the Haydon Burns Library and replace it with a faux-St. Augustine mixed-use project.

2.  Does downtown need yet another parking garage?

3.  Is a Marriott Courtyard really a boutique hotel?  Do Courtyards offer a unique personalized experience?

4.  Are these buildings referred to as a trio because they are three orphans surrounded by the not-much that remains?  (I believe so.)  Not exactly a positive statement.

thelakelander

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Re: Laura Street Trio to be Marriott Flagged Boutique Hotel
« Reply #9 on: August 19, 2013, 11:25:09 AM »
1.  I seem to recall that the Atkins Group was one of the bidders 10 years ago or so that wanted to demolish the Haydon Burns Library and replace it with a faux-St. Augustine mixed-use project.

2.  Does downtown need yet another parking garage?

3.  Is a Marriott Courtyard really a boutique hotel?  Do Courtyards offer a unique personalized experience?

4.  Are these buildings referred to as a trio because they are three orphans surrounded by the not-much that remains?  (I believe so.)  Not exactly a positive statement.
1. Yes, Atkins submitted a proposal for the Haydon Burns site.
2.These buildings will sit empty without dedicated parking.
3. Yes, it can be. I've stayed in quite a few across the US.
4. They're referred as the Trio because they were occupied by the same bank for many years.
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Jason

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Re: Laura Street Trio to be Marriott Flagged Boutique Hotel
« Reply #10 on: August 19, 2013, 11:31:43 AM »
This is EXCELLENT news!!

30 months of construction!?  These buildings really are in bad shape.

Tacachale

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Re: Laura Street Trio to be Marriott Flagged Boutique Hotel
« Reply #11 on: August 19, 2013, 11:33:52 AM »
1.  I seem to recall that the Atkins Group was one of the bidders 10 years ago or so that wanted to demolish the Haydon Burns Library and replace it with a faux-St. Augustine mixed-use project.


Yes, Atkins was one of the bidders for the Haydon Burns Library to replace it with a new mixed-use development. He's also been pushing for this Laura Street Trio project for over four years, and now owns the properties.

2.  Does downtown need yet another parking garage?

What Lake said, but it's been especially tricky because the Barnett Bank tower across the street (which is part of the Laura Trio package) also has no dedicated parking, nor a real place to put one without demolishing something. In the 1980s Barnett actually demolished the old Heard National Bank Building for parking, but this was later replaced by the BOA Tower. Presumably this parking garage will serve both the Trio and the Barnett, as previous proposals have suggested.


3.  Is a Marriott Courtyard really a boutique hotel?  Do Courtyards offer a unique personalized experience?


I'll defer to Ennis, though I have looked into a nice downtown Courtyard hotel in Detroit, which may be similar. And presumably Marriott knows what they're getting into at this point.

4.  Are these buildings referred to as a trio because they are three orphans surrounded by the not-much that remains?  (I believe so.)  Not exactly a positive statement.

They're called that because of the unusual configuration. They've been bundled together to save them. If they weren't, it's very unlikely the Bisbee and (especially) Florida Life buildings would still be there and we'd have even more empty lots downtown.
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?

tufsu1

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Re: Laura Street Trio to be Marriott Flagged Boutique Hotel
« Reply #12 on: August 19, 2013, 11:35:02 AM »
3.  Is a Marriott Courtyard really a boutique hotel?  Do Courtyards offer a unique personalized experience?

as Lake mentions above, Courtyard has some very nice properties.  I stayed in the "new" one in downtown Atlanta mentioned in yesterday's article...take a look at the images here

http://www.marriott.com/hotels/travel/atldo-courtyard-atlanta-downtown/

thelakelander

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Re: Laura Street Trio to be Marriott Flagged Boutique Hotel
« Reply #13 on: August 19, 2013, 11:48:57 AM »
I'm working in Ormond Beach this morning, so I'll post some pics of boutique Courtyards I've stayed in after lunch.

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jaxjags

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Re: Laura Street Trio to be Marriott Flagged Boutique Hotel
« Reply #14 on: August 19, 2013, 11:54:01 AM »
I stay at many Courtyards around the southeast. If they do this like ATL, then it is "unique". Although the lobby area looks the same, the rooms are different. Wood floors, rugs, special linens, different curtains, modern look and feel in an historic building. The Trio present interesting opportunity in the Florida Life as floors are small. The rendering looks like each of these floor may just have 2 large "suites". Very unique and different. I know Marriott does well in Jax, so I hope they find financing they need. I believe Khan's money was only to purchase the property.