Author Topic: Hotel Indigo developer to move forward without incentives  (Read 2615 times)

thelakelander

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Hotel Indigo developer to move forward without incentives
« on: November 09, 2018, 11:34:18 AM »
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Keith-N-Jax

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Re: Hotel Indigo developer to move forward without incentives
« Reply #1 on: November 09, 2018, 10:25:28 PM »
And just how many there are? Guess we’ll wait every 5 to 10 years waiting.

thelakelander

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Re: Hotel Indigo developer to move forward without incentives
« Reply #2 on: November 09, 2018, 10:58:54 PM »
The better solution is find out what market forces are allowing them to have a feasible project and then work to create an environment that fosters more.
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jagsonville

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Re: Hotel Indigo developer to move forward without incentives
« Reply #3 on: November 10, 2018, 01:03:28 PM »
The better solution is find out what market forces are allowing them to have a feasible project and then work to create an environment that fosters more.

I know he planned to use the parador garage, I wonder if that has changed with Hyatt/VyStar’s deal and if that means this project will now be using Barnett’s garage.

KenFSU

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Re: Hotel Indigo developer to move forward without incentives
« Reply #4 on: November 10, 2018, 02:51:03 PM »
^The Trio garage is being built with 696 spaces, all of which will be leased by the City of Jacksonville as part of the deal.

The city is re-leasing 250 spots back to Atkins for the Barnett & Trio.

Vystar is leasing another 425 spots from the city for their new HQ.

Only leaves 21 spots up for grabs.
« Last Edit: November 10, 2018, 06:51:23 PM by KenFSU »

MusicMan

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Re: Hotel Indigo developer to move forward without incentives
« Reply #5 on: November 10, 2018, 04:29:52 PM »
Sweet news!

Is there an expected occupancy date for Old Barnett Bank Bldg?

KenFSU

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Re: Hotel Indigo developer to move forward without incentives
« Reply #6 on: November 10, 2018, 04:53:20 PM »
Sweet news!

Is there an expected occupancy date for Old Barnett Bank Bldg?

Classes and activities begin in the UNF portion on the 4th and 5th floors in January.

Apartments should be move-in ready around April.

Westside Guy

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Re: Hotel Indigo developer to move forward without incentives
« Reply #7 on: February 15, 2019, 12:17:08 PM »
The Business Journal is reporting that Vystar purchased the Life of the South building on Tuesday. The CEO said there wasn’t enough room in the SunTrut Tower and another 200-300 employees will go in that building. Apparently there is also going to be Vystar signage on the building. Vystar now owns the whole block.

https://www.bizjournals.com/jacksonville/news/2019/02/15/vystars-downtown-campus-marks-new-era-for-citys.html

thelakelander

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Re: Hotel Indigo developer to move forward without incentives
« Reply #8 on: February 15, 2019, 12:36:55 PM »
Well there goes one hotel project up in smoke. I liked this one because it activated the entire ground level with retail/dining space. Hopefully, VyStar will keep that component but I doubt it.
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FlaBoy

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Re: Hotel Indigo developer to move forward without incentives
« Reply #9 on: February 15, 2019, 12:39:57 PM »
Well there goes one hotel project up in smoke. I liked this one because it activated the entire ground level with retail/dining space. Hopefully, VyStar will keep that component but I doubt it.

Vystar has tried to be very community friendly through this process. Maybe if this is brought up, they will pay attention. Hopefully those in the Indigo venture will consider another location DT.

Tacachale

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Re: Hotel Indigo developer to move forward without incentives
« Reply #10 on: February 15, 2019, 12:40:51 PM »
Well I guess it’s a good thing that Vystar is expanding healthily. But that hotel project would’ve been sweet.
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Westside Guy

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Re: Hotel Indigo developer to move forward without incentives
« Reply #11 on: February 15, 2019, 01:06:23 PM »
Generally I would be bummed by a project getting cancelled downtown but Not this time. I’m taking this as a good thing because when was the last time we had a project in downtown not come to fruition because someone else wanted the space more and bought it? I certainly can’t think of anything like that has happened in jacksonville in years. Also, if the Indigo people are still interested I am certain that myself and others on this forum can point them to numerous other unoccupied buildings that are suitable for redevelopment.

Steve

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Re: Hotel Indigo developer to move forward without incentives
« Reply #12 on: February 15, 2019, 01:12:26 PM »
I did feel like the number of hotel projects was surprising given the current state of downtown, and one had to go. I feel like if Hyatt Place, Courtyard (Trio), and the Ambassador project all happen, and VyStar fills the building completely it isn't the worst thing.

But, I do think that it's important that there is some street interaction. I mean, their employees have to eat somewhere too.

thelakelander

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Re: Hotel Indigo developer to move forward without incentives
« Reply #13 on: February 15, 2019, 01:21:58 PM »
Quote
But, I do think that it's important that there is some street interaction. I mean, their employees have to eat somewhere too.

This is basically what I was stating. I'm not losing sleep over the building being a hotel or office space. From a site specific standpoint, my hope is that the intersection of Laura and Bay features a retail/dining component (something open seven days and nights a week) than a single entry office space that's closed at nights and weekends. As for Eugene Profit, the developer behind the previous project, he seems to have fared well with his DT Jax investments (this one and 20 West). Hopefully, that group continues to seek additional opportunities with other buildings. They seem to know what they're doing.
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KenFSU

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Re: Hotel Indigo developer to move forward without incentives
« Reply #14 on: February 15, 2019, 04:23:26 PM »
Really bummed to see this one not come to fruition.

Laura Street is our ground zero in terms of redevelopment, and we've already got so much office space along Laura between Hemming and the Landing that doesn't interface with the street, and that doesn't stay open at night.

The Indigo concept, with the street-level restaurant and rooftop restaurant/bar, could have been really great for Laura Street, and combined with the rooftop bar planned for the Courtyard at the Trio and hopefully a bar/restaurant at Snyder one day, it could have created a lot of synergy along that corridor.

Now, we're just looking at another Monday-Friday, 9-5 office space.

It's nice to have more employees downtown, but it'd be nicer to have 24-7 active uses along Laura Street.

Hopefully they don't boot Peterbrooke, or else it wouldn't just be lost opportunity cost, but an actual net loss for Laura.

Also, sure feels like something needs to happen fast on the Trio garage for it to be ready by the time VyStar and the Barnett renters move in.

Vagabond have started working with an architect on Barnett build-out as well, and are expecting to be moved in by fall.