Winegardner & Hammons to Manage Laura Trio Marriott

[Metro Jacksonville]

Winegardner & Hammons to Manage Laura Trio Marriott



Following an extensive review process, SouthEast Group has selected its exclusive hospitality manager for the new Marriott flagged hotel to be part of the redeveloped Laura Street Trio in downtown Jacksonville.

Read More: http://www.metrojacksonville.com/article/2014-dec-winegardner-hammons-to-manage-laura-trio-marriott

[iMarvin]

Does this mean they've secured the necessary financing to start construction? Did they receive the $8 million from the city?

[For_F-L-O-R-I-D-A]

I hope so. This is the momentum we need.

[vicupstate]

Does this mean they've secured the necessary financing to start construction? Did they receive the $8 million from the city?

My question as well.  It may be a motivational tactic on the developer's part. 

[Bill Hoff]

I believe they're waiting on COJ to commit dollars towards a parking structure that would be shared with The Barnett project.

[edjax]

Does this mean they've secured the necessary financing to start construction? Did they receive the $8 million from the city?

My question as well.  It may be a motivational tactic on the developer's part.

Exactly what I think too. My guess no where near breaking ground. Hope I am wrong, but....

[jaxjags]

I believe they're waiting on COJ to commit dollars towards a parking structure that would be shared with The Barnett project.

If that is the case I wouldn't hold my breath given our City Council and the other DT authorities.

[KenFSU]

Did they receive the $8 million from the city?

From my understanding, Atkins wouldn't receive any money from the DIA/city until after construction was complete.

[Marle Brando]

If this is indeed a motivational factor from the developers to the city then it's pretty bold to announce construction starting first quarter 2015. Regardless, announcing management partners is positive news and shows the developer is getting all his ducks in a row and actively perusing closing the deals necessary to get the ball rolling on this thing. What a big boost this would be to the core adding the hotel and two restaurants to go along with the Cowford chophouse just a few blocks away.

[vicupstate]

If this is indeed a motivational factor from the developers to the city then it's pretty bold to announce construction starting first quarter 2015. Regardless, announcing management partners is positive news and shows the developer is getting all his ducks in a row and actively perusing closing the deals necessary to get the ball rolling on this thing. What a big boost this would be to the core adding the hotel and two restaurants to go along with the Cowford chophouse just a few blocks away.

Not many projects actually START, when they were first announced to start.  The ball is in the city's court.   

[jcjohnpaint]

..and that is where most projects around here stop. 

[heights unknown]

Super awesome news though nonetheless. I find it hard to believe that this is not the "real thing" after they boldly come out and say that construction will begin first quarter of 2015. They must know something we don't, and maybe (fingers crossed), just maybe the city has committed the funds to the project; I certainly hope so. Good news for downtown Jax and Jacksonville as a whole.

[vicupstate]

Super awesome news though nonetheless. I find it hard to believe that this is not the "real thing" after they boldly come out and say that construction will begin first quarter of 2015. They must know something we don't, and maybe (fingers crossed), just maybe the city has committed the funds to the project; I certainly hope so. Good news for downtown Jax and Jacksonville as a whole.

I would not put much stock in that 'announcement'.  Talk is cheap, many things get announced but never break ground.

[thelakelander]

Atkins said Monday he continues to work on securing about $8 million of the four-building project’s $70 million budget from the city to cover the public portion of the proposed public-private partnership.

After Atkins presented the project in September to the World Affairs Council, Downtown Investment Authority CEO Aundra Wallace said the city did not have that much capital available for the project.

Two weeks ago, Wallace said he has been in negotiations with SouthEast, but “it’s really difficult to try to make the numbers work.”

Atkins and his partners own the Laura Street Trio “debt-free.” But for the hotel and restaurant to move forward, he said, the city needs to commit to the entire project, including renovation of the former Barnett Bank building. Jacksonville Jaguars owner Shad Khan loaned the developers $3 million to buy the building.

“The trio is still on hold until the city decides its involvement,” he said Monday.

Wallace placed a deadline of April 1 for the city to make a “go or no go” decision on whether to contribute funds to the project. Atkins said that time frame matches his. “We hope to be able to come to resolution with the city,” he said.

Full article: http://www.jaxdailyrecord.com/showstory.php?Story_id=544561

[Bill Hoff]

April Fools Day . . . . that's ominous.