Downtown Construction Update - February 2009

[Metro Jacksonville]

Downtown Construction Update - February 2009



A look at the status of various projects under construction in and around Downtown Jacksonville during the month of February.

Full Article
http://www.metrojacksonville.com/content/view/1008

[BridgeTroll]

I see Oral explosion is building a foot or two above the usual street level "flood line".

[billy]

Is the Liberty Street building using Historic Tax Credits?
Any activity at Brooklyn Park?

[thelakelander]

Brooklyn Park has been delayed due to economic conditions.  I'm not sure if the Liberty Street project is using historic tax credits, but they would certainly qualify for them, as well as empowerment and enterprise zone tax credits.

[copperfiend]

Looks like more is happening in Springfield and San Marco than downtown.

[Flyboy]

I am sure the new owners would like any information regarding Historic tax credits. Do you know where I can find info to pass on to them?

[Captain Zissou]

There is actually a lot more activity going on than i had expected, especially in San Marco.  Is the East San Marco demolition just to prep for the Publix? what's the story here?  I had not heard about High Tide Burrito before this, but I'm pretty excited to try it out.

[billy]

If Liberty Street is already underway, they may not be eligible.
The best resource would be Paul Weaver, at Historic Properrty Associates in Saint Augustine,
hpa007@aol.com, or talk to Joel McEachin with the City of Jacksonville.

[thelakelander]

There is actually a lot more activity going on than i had expected, especially in San Marco.  Is the East San Marco demolition just to prep for the Publix? what's the story here?  I had not heard about High Tide Burrito before this, but I'm pretty excited to try it out.

East San Marco is still delayed, but the developers went ahead and demolished the remaining buildings on the site.

If Liberty Street is already underway, they may not be eligible.
The best resource would be Paul Weaver, at Historic Properrty Associates in Saint Augustine,
hpa007@aol.com, or talk to Joel McEachin with the City of Jacksonville.

Although construction has started, they should still be eligible for empowerment and enterprise zone tax credits.  At the very least, by saving their building material refunds, they'll get a couple of thousand back from the State government for investing in Springfield.

Building Materials Sales Tax Refund

This program provides a refund on state sales tax paid on the purchase of building materials used to rehabilitate real property located within the Enterprise Zone. Only one sales tax refund on building materials is available per parcel of real property unless there is a change in ownership or lessee. A building permit must be issued by the City of Jacksonville Building and Zoning Department for improvements being made to the building site.

The minimum refund available is $500, which roughly equates to $8,600 of building materials. If 20 percent or more of the permanent, full-time employees of the business are Enterprise Zone residents, the maximum refund per parcel will be no more than the lesser of $10,000 or 97 percent of the sales tax paid on building material purchases of up to $171,800. If less than 20 percent of the permanent, full-time employees of the business are Enterprise Zone residents, the maximum refund per parcel will be no more than the lesser of $5,000 or 97 percent of the sales tax paid on building material purchases of up to $85,900.

Applications for Enterprise Zone building material sales tax refunds must be filed with the Florida Department of Revenue within six months after the building materials are purchased, unless the Property Appraiser reassesses the property. In that event, the Enterprise Zone property owner has six months from the date of the reassessment to make the application. The EZDA has 10 business days to review and verify the business is located within the Enterprise Zone.

There are several programs and if the project fits the necessary requirements, more than one can be used for the same project.  Here is a link to the Empowerment and Enterprise Zone tax credit website:

http://www.coj.net/Departments/Jacksonville+Economic+Development+Commission/Enterprise+and+Empowerment+Zones.htm

[thelakelander]

There's also the Northwest Jacksonville Economic Development Trust Fund.

http://www.coj.net/Departments/Housing+and+Neighborhoods/NWEDTF/default.htm

[hightowerlover]

http://www.cnn.com/video/#/video/us/2009/02/10/lindgreen.cheap.building.wtlv

Congratulations Jacksonville!

[Joe]

Regarding the CNN story ... I posted a rant in the other thread. Long story short, the "news" of the $100 sale is a total lie. Jacksonville Bank was the original mortgage holder, therefore they have already paid over $4,000,000 for the Dyal Upchurch building. Not $100. It was a completely ordinary foreclosure auction that some irresponsible (or stupid) journalists blew out of proportion.

Regarding the update ... awsome pics as always!! I particulalry love the Kings Ave Station and Lofts on Main. I'm not a huge fan of the paint colors, but the massing and sizes are just perfect. I would take a dozen of those types of buildings over a skyscraper any day!

[ProjectMaximus]

Regarding the CNN story ... I posted a rant in the other thread. Long story short, the "news" of the $100 sale is a total lie. Jacksonville Bank was the original mortgage holder, therefore they have already paid over $4,000,000 for the Dyal Upchurch building. Not $100. It was a completely ordinary foreclosure auction that some irresponsible (or stupid) journalists blew out of proportion.

The CNN story made that clear at the end of the segment. Ehh, i dont really care. They need a
story, so give it to them as long as they do provide all the facts. It's up to the listener to hear the details...

Regarding the update ... awsome pics as always!! I particulalry love the Kings Ave Station and Lofts on Main. I'm not a huge fan of the paint colors, but the massing and sizes are just perfect. I would take a dozen of those types of buildings over a skyscraper any day!

Agreed.

[fatcat]

the CNN story is just stupid. probably written by some intern still in school. People relevant to story might want write to CNN to ask for correction

[zoo]

The 3rd photo in the series labeled "Prado Walk" is actually the first building being completed in the RiverOaks townhome project near the corner of Lydia and King Sts in Avondale.