Author Topic: Developer proposes 13-story Southbank apartment tower  (Read 19046 times)

thelakelander

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Re: Developer proposes 13-story Southbank apartment tower
« Reply #75 on: November 05, 2017, 09:12:34 AM »
The plug was pulled on the St. John (tower in right photo above) exactly 10 years ago last week.

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Weak market stalls second tower for The St. John

Development of a second luxury condominium tower downtown has been put on hold until the real estate market recovers.

Private developer Hines announced late Tuesday The St. John would not be built next to the Aetna Building on the Southbank "until real estate conditions in Northeast Florida are more favorable."

Local developer the LandMar Group earlier this month said it would delay building its first condominium tower at the Shipyards and focus on the mixed-use components of its urban community.

Houston-based Hines issued a statement of its intention to "monitor the market and move forward" with its plans for the 640,000-square-foot high-rise "at a later date."

Walt O'Shea, a vice president in Hines' Jacksonville office, said the company still views the project as viable.

"It's a long-term plan to develop the project we've concepted," O'Shea said in response to the real estate market's uncertain time frame for recovery.

"For us it's a long-term commitment to the project and the site, whether that's 18 or 24 months. ... We'll relaunch marketing when the time is right."

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O'Shea declined to disclose the number of buyers or deposit amounts on The St. John, citing company policy.

Buyers will receive refunds on deposits, according to the news release.

Hines announced its plans for The St. John in 2005, with an unveiling last year of an all-glass design for the 300-unit tower. The company has a standing policy not to disclose the cost of its developments. The St. John was designed by Miami-based Arquitectonica International Corp. The project was scheduled to break ground in 2006, with construction finishing in 2008.

Its unique all-glass look and upscale style is something Barton is optimistic Jacksonville's skyline will still gain.

"Obviously, we're disappointed and would love to see that project go forward, and we think it will," Barton said.

"We won't get it immediately, but I'm optimistic we will."

http://jacksonville.com/tu-online/stories/103107/bus_213612256.shtml#.Wf8ZeFtSzIU
"A man who views the world the same at 50 as he did at 20 has wasted 30 years of his life.” - Muhammad Ali

Tacachale

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Re: Developer proposes 13-story Southbank apartment tower
« Reply #76 on: November 05, 2017, 10:38:50 AM »
^It was pie in the sky even before the real estate bubble burst. The current project is much more feasible.
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?

billy

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Re: Developer proposes 13-story Southbank apartment tower
« Reply #77 on: November 05, 2017, 11:19:31 AM »
I think around this period there were three planned Arquitectonica designed residential high rises planned for both sides of the St. Johns.
The other two were at the Shipyards.

thelakelander

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Re: Developer proposes 13-story Southbank apartment tower
« Reply #78 on: December 13, 2017, 09:25:08 AM »
DDRB sided with the apartment developer. The owner of the Aetna Building (or whatever it's called now) plans to file a suit to keep the apartment project from happening. They don't want the building to be taller than 60' even though a 45 story building had the green light to be built in the same location before the real estate bust killed it.
"A man who views the world the same at 50 as he did at 20 has wasted 30 years of his life.” - Muhammad Ali

MusicMan

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Re: Developer proposes 13-story Southbank apartment tower
« Reply #79 on: December 13, 2017, 09:57:41 AM »
How long do they have to file? Or how soon can construction begin?

FlaBoy

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Re: Developer proposes 13-story Southbank apartment tower
« Reply #80 on: December 13, 2017, 01:00:25 PM »
How long do they have to file? Or how soon can construction begin?

If its an injunction they are looking for, they need to file ASAP but have a two year period. It is an almost certainly fruitless lawsuit.

edjax

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Re: Developer proposes 13-story Southbank apartment tower
« Reply #81 on: December 13, 2017, 04:04:30 PM »
How long do they have to file? Or how soon can construction begin?

If its an injunction they are looking for, they need to file ASAP but have a two year period. It is an almost certainly fruitless lawsuit.

Agree it seems worthless to attempt.  Let's see they bought it in 2013 and one would think during their due diligence they were very aware of the previously approved project on the same tract of land.  So they felt they got such a good deal it was worth the risk.  Also did they make any attempt to purchase this land to protect their investment?  If not I would throw the suit out.

acme54321

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Re: Developer proposes 13-story Southbank apartment tower
« Reply #82 on: September 21, 2018, 10:39:25 PM »
Anyone know what was mentioned about this project at the DIA meeting?

KenFSU

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Re: Developer proposes 13-story Southbank apartment tower
« Reply #83 on: September 21, 2018, 11:58:02 PM »
^Just that the owners and neighbors have come to an agreement that cut the 300-unit $65 million project down to 180-units at $45 million. DIA is on board with the requested $8 million, 20-year REV grant.

acme54321

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Re: Developer proposes 13-story Southbank apartment tower
« Reply #84 on: September 22, 2018, 05:07:24 PM »
Cool, I was curious if they had released any renderings.

jcjohnpaint

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Re: Developer proposes 13-story Southbank apartment tower
« Reply #85 on: September 23, 2018, 05:40:59 AM »
There was about a year ago, but I don’t know if it will be 13 fls anymore.

acme54321

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Re: Developer proposes 13-story Southbank apartment tower
« Reply #86 on: September 24, 2018, 08:03:16 AM »
Yeah, I've seen those.  I'd say it wasn't exactly an awe inspiring building.  I'm hoping that this new building will be a little more interesting architecturally rather than just downsizing what had been proposed.  We can dream ::)

bl8jaxnative

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Re: Developer proposes 13-story Southbank apartment tower
« Reply #87 on: October 03, 2018, 04:42:44 PM »
Where exactly is this proposed for? 

acme54321

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Re: Developer proposes 13-story Southbank apartment tower
« Reply #88 on: October 03, 2018, 08:33:08 PM »
Where exactly is this proposed for?

The surface lot between the Aetna building and Acosta bridge.

howfam

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Re: Developer proposes 13-story Southbank apartment tower
« Reply #89 on: October 03, 2018, 09:54:45 PM »
Yeah, I've seen those.  I'd say it wasn't exactly an awe inspiring building.  I'm hoping that this new building will be a little more interesting architecturally rather than just downsizing what had been proposed.  We can dream ::)


I hope it's not another 5-story frame building on our downtown waterfront. Embarrassing!!