Author Topic: The District sets timeline for infrastructure construction  (Read 9688 times)

Ken_FSU

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Re: The District sets timeline for infrastructure construction
« Reply #60 on: September 17, 2020, 03:50:24 PM »
Dealer: 21.
Jacksonville:

bl8jaxnative

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Re: The District sets timeline for infrastructure construction
« Reply #61 on: September 17, 2020, 04:18:18 PM »

Building more residential shouldn't be that hard. Covid19's nearly moot at this point.  So far we've had a v-shaped recovery.   The demographics are driving a huge demand for more housing.   Interest rates are low.  And Metro Jacksonville's population is one of the fastest in the country.

fastest growing, too ;-)


Makes one wonder how much of the problem is the city government itself.

marcuscnelson

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Re: The District sets timeline for infrastructure construction
« Reply #62 on: September 17, 2020, 05:03:54 PM »
With this particular project? Seems a lot more like the problem is the developers who either never had the necessary backing to close the deals and make the development happen, or were more interested in leading us on in some sense.
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JaGoaT

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Re: The District sets timeline for infrastructure construction
« Reply #63 on: September 17, 2020, 05:45:55 PM »
Knew it was never going to happen ever since the named it “Healthy Town”. What a shi*ty name

blizz01

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Re: The District sets timeline for infrastructure construction
« Reply #64 on: September 17, 2020, 06:12:36 PM »
But ironically 1000x better than its alter ego - "Unhealthy Town".

Charles Hunter

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Re: The District sets timeline for infrastructure construction
« Reply #65 on: December 22, 2020, 10:49:16 AM »
Looks like they'll meet their (extended) deadline for obtaining financing. They will close on the loan from Preston Hollow on Tuesday, which opens up the City's funding.
https://www.jacksonville.com/story/news/local/2020/12/22/district-overcomes-delays-mega-project-downtown-jacksonville/3994272001/?fbclid=IwAR1ysCEOyttMKf6CCCck6Uftmd1rTzXLi49TS8N4k_fLtlmfsVSJ5qk_Tn8

Steve

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Re: The District sets timeline for infrastructure construction
« Reply #66 on: December 22, 2020, 11:26:40 AM »
Am I the only one that can’t get super excited about this project? I mean I’m certainly not against it, but it’s basically a master planned community near downtown.

Give me the Barnett, Laura Trio, VyStar’s investment, and the JWB/Augustine projects any day of the week over this one.

Charles Hunter

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Re: The District sets timeline for infrastructure construction
« Reply #67 on: December 22, 2020, 12:00:56 PM »
Am I the only one that can’t get super excited about this project? I mean I’m certainly not against it, but it’s basically a master planned community near downtown.

Give me the Barnett, Laura Trio, VyStar’s investment, and the JWB/Augustine projects any day of the week over this one.

No, you are not alone.

thelakelander

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Re: The District sets timeline for infrastructure construction
« Reply #68 on: December 22, 2020, 12:42:48 PM »
I'm fine with the District. Still waiting for an actual project to be proposed there. It would have been much further along if they went with the other offer years ago. As of now, it appears construction will consist of city money building streets and infrastructure to better facilitate private development at a later date. Seeing something completed on this tract of property may take just as long as waiting for the ribbon cutting ceremony at a completed Lot J.
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acme54321

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Re: The District sets timeline for infrastructure construction
« Reply #69 on: December 22, 2020, 01:09:47 PM »
They're pushing dirt over in San Marco, anything is possible these days  ;D

thelakelander

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Re: The District sets timeline for infrastructure construction
« Reply #70 on: December 22, 2020, 02:19:20 PM »
Press release

Quote
The District Community Development District Closes on Bond Sale
Construction of Infrastructure Improvements at Former JEA Generating Site to Start Soon


JACKSONVILLE, FL (December 22, 2020) – The District Community Development District (CDD) closed on a $35.6 million bond issue today, paving the way for construction of infrastructure improvements to begin on-schedule early next year. In addition, The Elements Development of Jacksonville, LLC, an entity managed by Preston Hollow Capital, will convey approximately four acres of waterfront property to the City of Jacksonville to be used for public park space and a substantial Riverwalk extension. The public park space will tell the story of health, wellness and Jacksonville’s extraordinary medical facilities through art, exercise, gardens and interactive features.

“We make it our mission to partner with municipalities across the country to help them with projects that achieve transformative community impact,” said Ramiro Albarran, Managing Director at Preston Hollow Capital. “The District is just such a project.  We have enjoyed working with Lori Boyer, her staff, and the many City employees who have worked countless hours to help make the District a reality.  I am personally excited about the energy and vitality that this development will bring to the City of Jacksonville.”

To prepare for vertical construction, the CDD will use the bond proceeds to install public utilities and stormwater management facilities for both the public space and roads; provide new school board parking, marina/riverfront parking and public use parking areas; and construct roads to facilitate private development of individual parcels. On behalf of the City and Downtown Investment Authority (DIA) – acting as the Southside Community Development Agency – the CDD will also make bulkhead improvements, extend the Riverwalk, install an overland trail and construct a boardwalk over the natural marsh area. With a budget of $23 million, the DIA project constructed by the CDD will also develop three riverfront parks, construct floating docks, add a water taxi stop and kayak launch and provide park access via the extension of Prudential Drive, Broadcast Place and new roadways.

The District 30-acre development is located on the Southbank at the former site of JEA’s Southside Generating Station.  A Redevelopment Agreement, approved by the City Council in 2018 and administered by the DIA, anticipates a private capital investment of $280 million. With scenic views of both the river and the Downtown skyline, this unique setting will be a place that empowers residents and visitors to pursue and achieve wellness in their everyday lives.

 
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bl8jaxnative

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Re: The District sets timeline for infrastructure construction
« Reply #71 on: December 25, 2020, 09:46:19 PM »
If another 3,000 people living downtown doesn't excite one........

landfall

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Re: The District sets timeline for infrastructure construction
« Reply #72 on: January 03, 2021, 08:33:21 AM »
Wouldn't it be funny if they could shift 200sqf of office space whilst Lot J across the water ended up with nothing?!

Also curious if we'll see a battle for tenants between both. Assuming both end up with shovels in the ground!

thelakelander

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Re: The District sets timeline for infrastructure construction
« Reply #73 on: January 03, 2021, 08:25:00 PM »
Neither one will land a tenant requiring 200k of Class A office space. Unless Khan's Flex N Gate is going to anchor and need that type of space, that day sailed years ago. COVID-19 just put the final nail in DT Jax's Class A office space coffin. We'll likely need to look at new ways to fill the empty office spaces we have as opposed to worrying about building new.
"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: The District sets timeline for infrastructure construction
« Reply #74 on: January 04, 2021, 02:09:29 PM »
Ya, it's hard to see a lot of new class A being built in dwntwn JAX anytime soon.

FIS may be the only one in  generaation.