Author Topic: Laura Street Trio finally headed to DDRB  (Read 18303 times)

thelakelander

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Re: Laura Street Trio finally headed to DDRB
« Reply #15 on: March 08, 2021, 05:40:23 PM »
I'm not surprised. That revamp with the DT historic preservation fund was transformational for these types of adaptive reuse projects. Just hopping we can get a few of these large projects started before anything changes.
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Steve

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Re: Laura Street Trio finally headed to DDRB
« Reply #16 on: March 09, 2021, 08:55:33 AM »
And in this, COJ is covered. They don't get the full amount unless:

 - The developer completes the full $66.98 million project
 - Opens hotel with at least 140 rooms.
 - 8k SqFt Retail Space
 - 21k SqFt of Restaurant Space

The big thing driving this is the $10M Code Compliance Forgivable Loan. Frankly, this is the poster child project for this type of loan - historic building that hasn't been occupied in some time where it will cost a ton to bring to code.

To me this seems like a no brainer.


FlaBoy

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Re: Laura Street Trio finally headed to DDRB
« Reply #18 on: March 18, 2021, 01:29:45 PM »
And in this, COJ is covered. They don't get the full amount unless:

 - The developer completes the full $66.98 million project
 - Opens hotel with at least 140 rooms.
 - 8k SqFt Retail Space
 - 21k SqFt of Restaurant Space

The big thing driving this is the $10M Code Compliance Forgivable Loan. Frankly, this is the poster child project for this type of loan - historic building that hasn't been occupied in some time where it will cost a ton to bring to code.

To me this seems like a no brainer.

Can you explain the $10 million Code Compliance Forgivable Loan? Is this for past citations or to bring the buildings up to compliance or a mixture?

fieldafm

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Re: Laura Street Trio finally headed to DDRB
« Reply #19 on: March 18, 2021, 02:20:13 PM »
The Trio's loan is a larger version of the Code Compliance Forgivable Loan program that began earlier this year

Quote
https://www.thejaxsonmag.com/article/could-downtown-historic-preservation-be-a-game-changer/

Buildings like these were designed and constructed under a different set of Codes.  ADA compliance, fire sprinklers, elevator shafts, etc were either non-existent 50 years ago, or are drastically different than today's standards.  Retrofitting older buildings to current Code standards is expensive... and the biggest financial burden to someone looking to bring a building back to life that has been sitting empty for decades.

Additionally, preserving older architectural elements which use quite a bit of concrete and plaster, is more expensive than say gypsum products used for new construction today.

The forgivable loans to bring these buildings back up to today's standards are basically the equalizer between the cost of rehabilitation versus the cost of new construction

heights unknown

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Re: Laura Street Trio finally headed to DDRB
« Reply #20 on: March 18, 2021, 04:18:46 PM »
Is the coneptual or rendering in the news article is the way that it will look? Is that a new skyscraper that will be built and attached to the trio? This is the first time I've seen that scraper building; I thought a parking garage will also be added? Maybe it will be attached at the bottom of the scraper. Kind of looks like a taller version of the new JEA building now being constructed. About time though they move forward with this projects with caveats and holding them accountable...i.e., no money, no loan until the project is finished.......I love it!
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marcuscnelson

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Re: Laura Street Trio finally headed to DDRB
« Reply #21 on: March 18, 2021, 04:50:13 PM »
^ Some of the renderings in this image include what looks like a future apartment complex directly adjacent to the Trio buildings themselves. But only the section next to (I think) the Bisbee Building are actually part of the hotel. I think these are sharing the Vystar garage across the street.
So, to the young people fighting in this movement for change, here is my charge: march in the streets, protest, run for school committee or city council or the state legislature. And win. - Ed Markey

Ken_FSU

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Re: Laura Street Trio finally headed to DDRB
« Reply #22 on: March 18, 2021, 07:54:10 PM »
Whatever the cost.

This is the single most important project downtown, and Atkins has MORE than proven himself with the Barnett.

If the city plays nice with Atkins on the Trio, plays nice with VyStar on their expansion, and knocks the Landing out of the park, it will be more transformational for downtown than anything in the sports district or Shipyards.

We can't mess this one up.

Just need to write the check, remove any unnecessary red tape, and get out of the way of Atkins and Danis.

thelakelander

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Re: Laura Street Trio finally headed to DDRB
« Reply #23 on: March 18, 2021, 08:12:31 PM »
Pretty much! Write the check and move out the way. If there's a desire to do more, work with the owners of BOA, Wells Fargo Center and Omni/Enterprise Center to do something productive at street level.
"A man who views the world the same at 50 as he did at 20 has wasted 30 years of his life.” - Muhammad Ali

Ken_FSU

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Re: Laura Street Trio finally headed to DDRB
« Reply #24 on: March 18, 2021, 09:56:35 PM »
Pretty much! Write the check and move out the way. If there's a desire to do more, work with the owners of BOA, Wells Fargo Center and Omni/Enterprise Center to do something productive at street level.

Open the main library's two retail spots to the street, toss some of those historic preservation fund bones to Ron to finish his project, and heavily incentive the repurposing of Snyder Memorial, and you've got yourself a pretty badass stretch from Hemming to the river to build off of.

On a similar note, I'd love to see the Main Library and Hemming Park become better partners.

Just makes so much sense for the library to take a more active role in programming the park.

Bryant Park and the New York Public library partner on an outdoor "reading room" concept that would work really well in our climate. Basically just involves the library setting up an outdoor area in the park with newspapers, magazines, and popular books each day. No library card required, just the honor system with a librarian or park staff keeping everyone honest. At lunch time and on weekends, they have book and poetry readings in the park, and they partner with Bryant on movies nights as well. They also do coffee and snack carts, popcorn, etc.

https://bryantpark.org/amenities/reading-room

marcuscnelson

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Re: Laura Street Trio finally headed to DDRB
« Reply #25 on: March 18, 2021, 11:51:16 PM »
It's truly mind-boggling how much potential this city leaves on the table on a regular basis.
So, to the young people fighting in this movement for change, here is my charge: march in the streets, protest, run for school committee or city council or the state legislature. And win. - Ed Markey

Zac T

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Re: Laura Street Trio finally headed to DDRB
« Reply #26 on: May 30, 2021, 11:47:22 AM »
Laura Street Trio clears another hurdle

Quote
SouthEast Group’s application for a Historic Preservation Certificate for the Laura Street Trio buildings has been approved by the National Park Service, setting the stage for the $70 million redevelopment of the properties to move ahead.

https://www.bizjournals.com/jacksonville/news/2021/05/28/laura-st-trio-nps-2.html

thelakelander

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Re: Laura Street Trio finally headed to DDRB
« Reply #27 on: May 30, 2021, 11:54:45 AM »
Great news! I was prepared that it might take longer to clear that hurdle!

Quote
SouthEast Group’s application for a Historic Preservation Certificate for the Laura Street Trio buildings has been approved by the National Park Service, setting the stage for the $70 million redevelopment of the properties to move ahead.

The final hurdle before work can begin is having the City Council sign off on a development agreement as part of the $24.67 million in city funding that the Downtown Investment Authority agreed to provide earlier this year.

That agreement is still being worked on by the city’s lawyers, SouthEast Managing Director Steve Atkins told the Business Journal on Friday. Once it is finalized and approved by council, work can begin.

When it does, it should go quickly.

“I want to be in the ground by the end of summer,” Atkins said. “When I say I’m ready to go, I’m ready to go.”
"A man who views the world the same at 50 as he did at 20 has wasted 30 years of his life.” - Muhammad Ali

marcuscnelson

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Re: Laura Street Trio finally headed to DDRB
« Reply #28 on: May 30, 2021, 01:07:54 PM »
Excellent that the NPS is catching up on the backlog of applications! Hopefully this sails through Council so they can hop to it.

I imagine it could be a real morale booster for downtown to see the Trio under construction. Something that really lives up to the idea that we’re not only coming back from the pandemic, but even on the rise again. Not to mention the sheer value of having the heart of the northbank reactivated.
So, to the young people fighting in this movement for change, here is my charge: march in the streets, protest, run for school committee or city council or the state legislature. And win. - Ed Markey

Zac T

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Re: Laura Street Trio finally headed to DDRB
« Reply #29 on: May 30, 2021, 01:43:10 PM »
When is VyStar supposed to start construction on the parking garage? I feel like I've been hearing 6 weeks for a few months now. These two projects are going to completely transform the feel of that entire corridor and I'm really looking forward to seeing them move forward especially as Bread and Board Provisions comes online