Author Topic: Luxury hotel, 200 apartments and retail coming to site of former Ambassador Hote  (Read 18303 times)

thelakelander

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Is anything possibly related to the government shut down?
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KenFSU

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Is anything possibly related to the government shut down?

The shutdown certainly doesn't help.

Last January had stronger trade show business as well.

Assuming a bipartisan resolution to the shutdown is on the horizon (huge assumption, obviously), February will be the real test.

Hopefully it's just a blip, as all the previous trends have been super positive.

Wacca Pilatka

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Could part of the formula be that there was a playoff game in Jacksonville last January with quite a few Buffalo travelers coming to town to destroy property?
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KenFSU

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Could part of the formula be that there was a playoff game in Jacksonville last January with quite a few Buffalo travelers coming to town to destroy property?

Definitely doesn't help, but the dip isn't isolated to a single week. Downtown's seen at least three or four weeks since mid-December where hotel occupancy has had year-over-year dips of around 20%, with occupancy some weeks dipping a low as 37% (vs. 54%-65% for the rest of the city). Don't necessarily think the sky is falling, clearly the economic situation is hurting travel everywhere, it'll just be interesting to see how the market absorbs the extra rooms.

thelakelander

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"A man who views the world the same at 50 as he did at 20 has wasted 30 years of his life.” - Muhammad Ali

KenFSU

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Are there also concerns about how the market will absorb the extra rooms going up outside of downtown? There seems to be a lot of them. Here's a couple from a quick search:

https://www.jaxdailyrecord.com/article/the-mathis-report-courtyard-by-marriott-proposed-south-of-unf-along-kernan

https://www.jaxdailyrecord.com/article/seeing-potential-in-arlington-miami-area-developer-wants-to-transform-bethelite-property

https://www.jaxdailyrecord.com/article/hotel-notes-holiday-inn-express-breaks-ground-near-town-center



Don't forget Margaritaville out at the beaches too.

And naw, I don't think anyone's too concerned.

I honestly don't think anyone's even that concerned about downtown occupancy at the moment.

A year of solid growth followed by a bad six weeks could just be a blip.

KenFSU

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With interior demo done, permits have been filed for construction of the La Quinta.

https://www.jaxdailyrecord.com/article/permit-sought-to-transform-former-ambassador-hotel-into-a-la-quinta




thelakelander

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Now that Hotel Indigo has disappeared, this may be my favorite DT project right now. No flashy renderings. No puff pieces in the media about what "could" come. These guys are moving just about as fast as I've ever seen a group move in DT Jax on a building some wanted razed because it had been vacant for so long.
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heights unknown

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I agree Lake, and, this is tremendous news. Kind of sad as many memories from my youth in that basement bar will be gone forever (nothing lasts forever); but oh, for the sake of progress? Yes!
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Steve

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Now that Hotel Indigo has disappeared, this may be my favorite DT project right now. No flashy renderings. No puff pieces in the media about what "could" come. These guys are moving just about as fast as I've ever seen a group move in DT Jax on a building some wanted razed because it had been vacant for so long.

I still can’t believe this one is happening. When they first announced plans, it seemed like a total pie in the sky. I’ll celebrate when I can check in to a room, but a very good sign.

heights unknown

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Same here Steve, same here; I won't celebrate and/or pop the champagne until then.
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KenFSU

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Construction on the hotel to begin within 10 days, per the developer.

thelakelander

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https://www.jaxdailyrecord.com/article/the-mendenhall-report-historic-preservation-and-revitalization-trust-fund-debated

Hopefully they will! Also, hopefully the council will replenish the Historic Preservation and Revitalization Trust Fund. I love Lori Boyer but I don't agree with the position that earmarking money in it would become bad optics for the development community. Status quo, regarding the city's financial commitment and will for preservation and adaptive reuse is already bad. Any steps the city can play to embrace inclusiveness and equity in the downtown revitalization scene are a good thing.
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vicupstate

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Quote
Before the project can begin, a development agreement with the terms of a $233.3 million city-backed incentives package must be approved by the DIA board and City Council.

Lot J developer Jacksonville I-C Parcel One Holding Company LLC expects to break ground on the project in January.

It is almost November, do we know what is in the incentives package yet or how it is being paid for?
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thelakelander

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^No to both, although I'm sure the council has been lobbied for months behind closed doors.
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