Author Topic: Five Developments Headed To San Marco East  (Read 15004 times)

thelakelander

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Five Developments Headed To San Marco East
« on: November 20, 2019, 08:54:38 AM »
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Newly rebranded “San Marco East,” the long blighted commercial corridor just south of downtown Jacksonville where Kings Avenue, Atlantic Boulevard and Philips Highway intersect with Interstate 95 is in the midst of a major rebirth. Here are five projects that will dramatically change the scenery of a strip once known as the Miracle Mile.


Read More: https://www.thejaxsonmag.com/article/five-developments-headed-to-san-marco-east/
"A man who views the world the same at 50 as he did at 20 has wasted 30 years of his life.” - Muhammad Ali

bl8jaxnative

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Re: Five Developments Headed To San Marco East
« Reply #1 on: November 20, 2019, 09:39:15 AM »
Tax havens involve foreign investors.  Who are the foreigners investing along the north end of the hooker highway?

Tacachale

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Re: Five Developments Headed To San Marco East
« Reply #2 on: November 20, 2019, 12:03:33 PM »
Tax havens involve foreign investors.  Who are the foreigners investing along the north end of the hooker highway?

Opportunity zones provide tax breaks to people investing in designated areas. Is there a better term for that?
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?

thelakelander

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Re: Five Developments Headed To San Marco East
« Reply #3 on: November 20, 2019, 12:12:46 PM »
More information on opportunity zones specific to this area:

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Chance Partners’ San Marco Crossing multifamily apartment project is in an Opportunity Zone.

Chance Partners demolished the former Southside Assembly of God building and will break ground on the project Sept. 26. The site is along Kings Avenue between Olevia Street and Mitchell Avenue, east of San Marco.

The project was funded with a combination of private investors who were familiar with Rosen and Chance Partners, as well as EJF Capital, an Arlington, Virginia-based institutional fund manager, which has a branch dedicated to Opportunity Zone funding.

“We got in front of a deal that made a lot of sense,” Rosen said. “It was already entitled. The economics were really good. It was in a transitional neighborhood, but it also made a lot of sense for what’s happening in the Southbank in San Marco.”

To invest in a property within an Opportunity Zone, investors must first set up a Qualified Opportunity Fund. Taxes on those funds can be deferred until 2026 or when the funds are used for development, whichever comes first.

https://www.jaxdailyrecord.com/article/opportunity-zones-can-offer-rewards-for-developers
"A man who views the world the same at 50 as he did at 20 has wasted 30 years of his life.” - Muhammad Ali

Bativac

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Re: Five Developments Headed To San Marco East
« Reply #4 on: November 20, 2019, 12:18:58 PM »
Really hope these projects all come to fruition. I grew up in the area and most of it has been in dire need of improvement for decades.

bl8jaxnative

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Re: Five Developments Headed To San Marco East
« Reply #5 on: September 04, 2020, 09:55:38 AM »

I think that raises the question of where does this East San Marco end and begin?   Atlantic to Emerson?  In between I95 + railroad?

Bill Hoff

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Re: Five Developments Headed To San Marco East
« Reply #6 on: September 04, 2020, 10:15:30 AM »

I think that raises the question of where does this East San Marco end and begin?   Atlantic to Emerson?  In between I95 + railroad?

Just branding/marketing. Slap "San Marco" on it, and the uninformed won't know the difference. Not dissimilar to how "Riverside" is all over Brooklyn.

ProjectMaximus

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Re: Five Developments Headed To San Marco East
« Reply #7 on: September 07, 2020, 09:05:56 PM »
Oh my. We're gonna gentrify those hourly motels right outta there.

slyle

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Re: Five Developments Headed To San Marco East
« Reply #8 on: September 15, 2020, 12:13:02 PM »
Anyone know what’s going on with the bearded pig construction?The whole design has changed based on the renderings and now they’re excavating a major part of the back property for some reason?

fieldafm

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Re: Five Developments Headed To San Marco East
« Reply #9 on: September 15, 2020, 01:04:37 PM »
I don't see any changes? The facade work hasn't begun.

Assume that the excavation work is probably a combination of remediation, retention and sewer hookup/grease trap all required to serve the site.

slyle

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Re: Five Developments Headed To San Marco East
« Reply #10 on: September 15, 2020, 02:24:12 PM »
Well if the picture on the renderings is from the back of the property then I guess the front of the property is going to have a solid concrete block wall. And they are digging a massive hole in the back almost as  wide as the property. And anyone can assume all kinds of things about water and sewer and if  that is what it is, so be it.

fieldafm

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Re: Five Developments Headed To San Marco East
« Reply #11 on: September 15, 2020, 02:35:18 PM »
Well if the picture on the renderings is from the back of the property then I guess the front of the property is going to have a solid concrete block wall. And they are digging a massive hole in the back almost as  wide as the property. And anyone can assume all kinds of things about water and sewer and if  that is what it is, so be it.

The image referenced in this article is from the perspective of if you were standing at the back of the property (with the storage unit to your back). The front door opens to the parking lot to the rear of the property. Kings Ave is the roadway you see 'behind' the building in that image.

slyle

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Re: Five Developments Headed To San Marco East
« Reply #12 on: September 15, 2020, 04:01:05 PM »
That’s what I just surmised up above. And the street side will be a solid concrete block wall on the front  except for one door, apparently

JBTripper

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Re: Five Developments Headed To San Marco East
« Reply #13 on: September 16, 2020, 10:59:41 AM »
I saw a zoning notice sign posted at the corner of St. Augustine Road and Boulder St. and did some digging. It looks like Ram Partners, a development firm in Atlanta, owns 5 parcels between Fleet St and St. Augustine and is looking to rezone to PUD. Sounds like more multi-family in the up-and-coming "East San Marco?"

Captain Zissou

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Re: Five Developments Headed To San Marco East
« Reply #14 on: September 16, 2020, 11:14:47 AM »
I saw a zoning notice sign posted at the corner of St. Augustine Road and Boulder St. and did some digging. It looks like Ram Partners, a development firm in Atlanta, owns 5 parcels between Fleet St and St. Augustine and is looking to rezone to PUD. Sounds like more multi-family in the up-and-coming "East San Marco?"
Not multifamily, the application says:
"The request is to permit outside storage for a building trades contractor and other similar uses on the subject property. This PUD application is a companion to a pending application for small-scale land use amendment (L-5448-20C) for that portion of the property located in the Low Density Residential (LDR) land use designation."