Old Ind Life Bldg ---> luxury condos + grocery store?

[aubureck]

Do you have any idea why Vestcor pulled out?  Are they over committed with all of their other ongoing urban core projects at the moment?

Sounds all like promising things.  I can't wait to see active construction on these sites and hope this current uncertainty doesn't derail the project.

[thelakelander]

Vestcor was unsuccessful in getting the subsidies it recieved for other projects recently completed in LaVilla and under construction in Brooklyn. At this point, I don't know the status of their townhouse project in LaVilla, the Cathedral District and Murray Hill projects and if they are seeking subsidies for them.

[aubureck]

That makes sense but also shows the difficulty of always relying on subsidies.  I guess that's the difficulty with affordable housing.  I'm not sure that I've seen an affordable housing project that did not include some level of subsidies.  I do hope that the Lavilla project is able to move forward.  Downtown needs more for sale housing and, of course, more activity in Lavilla.

[thelakelander]

That's basically their business model. Getting federal tax credits and incentives to build affordable housing in different markets. So it's not a reflection on downtown Jax specifically. They got incentives for the LaVilla townhouse project as well, in the form of three full city blocks basically for free in order to do "market rate" housing. Hopefully, they'll break ground soon but I'm sure coronavirus could delay things a bit with the city literally shutting down.

[thelakelander]

Bill filed for $3 million Independent Life historic preservation grant

https://www.jaxdailyrecord.com/article/bill-filed-for-dollar3-million-independent-life-historic-preservation-grant

[heights unknown]

Great news. I remember as a kid in the mid-60's, always gazing at all of the neon signs on the buildings back then; but the one that stuck out was this building. That stem coming up at the top had a flourescent light in it that flashed solid, and then blinked incessantly and rapidly, then solid again, and then blinked again from the bottom to the top; I hope they find a way to get it working again. I'm going to try to find that online if available. But super news about this historic buildling.

[marcuscnelson]

I imagine it'd be LED this time like the Maxwell Coffee sign, it does sound cool though.

But yeah, let's get this done. Augustine Development and JWB aren't getting enough credit for the work they're doing downtown.

[vicupstate]

But yeah, let's get this done. Augustine Development and JWB aren't getting enough credit for the work they're doing downtown.

Agreed. If we spent $10 million or maybe $20 million on 2 waying streets, and improving the esthetics of the Northbank generally, we would get a lot more investment from them and others that would follow them.  Far more than anything that is going to happen at Lot J and for a tiny fraction of the cost.

[thelakelander]

^This is why I can't take "the Jags are the only ones trying to do anything downtown" sentiment seriously. What could groups like Augustine Development and JWB do if 50% of their development costs were publicly funded? My guess, is a hell of a lot more than they're already doing. Set aside $200 million in public funding to assist projects like these and you'll have a revitalized Northbank prior to the first guest being able to order a plate of chicken wings at Lot J in 2028. This doesn't mean I'm saying don't do Lot J. But it does mean that I believe the narrative should change towards it and other projects in downtown.