"Downtowns To Be Hollowed Out"

[thelakelander]

Most execs now do a hybrid model, if anything, which to me is probably where the balance lies.

As far as downtown's future goes, this is the likely reality people need to deal with and address locally. Big 1980s office towers like One Enterprise Center aren't going to fill up their large amount of vacant space in a market where hybrid models are becoming the norm. DT Jax needs to have a real discussion around how these spaces are going to be filled, adaptively reused, etc. Dreams of vibrancy aren't ever coming true if these large buildings remain underutilized for the foreseeable future.

[jaxlongtimer]

Jax taking the lead on hollowing out its Downtown:

Bank of America is closing its downtown financial center at 50 North Laura St., saying declining foot traffic to the branch led to the decision.

"It's in response to our customers' needs and changing behavior," bank spokesperson Chris Feeney told the Business Journal....

https://www.bizjournals.com/jacksonville/news/2024/02/09/bank-of-america-shuts-downtown-jacksonville.html?utm_source=st&utm_medium=en&utm_campaign=ae&utm_content=JA&j=34299941&senddate=2024-02-09&empos=p4

This is on top of Wells Fargo doing the same thing.  So, the two biggest banks in NE Florida no longer have branches in Downtown.  I heard that BoA might also be closing its San Marco Square branch.  I note with their closure of the Downtown branch, they are referring customers to a Regency branch (not San Marco).  Hardly close to Downtown.

FYI, HD Supply, Home Depot's locally HQ-d company, is moving from both the Southbank and the Northbank to the Avenues in a few more weeks = a few hundred employees departing Downtown.

[acme54321]

Jax taking the lead on hollowing out its Downtown:

Bank of America is closing its downtown financial center at 50 North Laura St., saying declining foot traffic to the branch led to the decision.

"It's in response to our customers' needs and changing behavior," bank spokesperson Chris Feeney told the Business Journal....

https://www.bizjournals.com/jacksonville/news/2024/02/09/bank-of-america-shuts-downtown-jacksonville.html?utm_source=st&utm_medium=en&utm_campaign=ae&utm_content=JA&j=34299941&senddate=2024-02-09&empos=p4

This is on top of Wells Fargo doing the same thing.  So, the two biggest banks in NE Florida no longer have branches in Downtown.  I heard that BoA might also be closing its San Marco Square branch.  I note with their closure of the Downtown branch, they are referring customers to a Regency branch (not San Marco).  Hardly close to Downtown.

FYI, HD Supply, Home Depot's locally HQ-d company, is moving from both the Southbank and the Northbank to the Avenues in a few more weeks = a few hundred employees departing Downtown.

It could be a huge opportunity if the BOA San Marco square property was redeveloped if someone did it right.

[Captain Zissou]

I heard that BoA might also be closing its San Marco Square branch.  I note with their closure of the Downtown branch, they are referring customers to a Regency branch (not San Marco).

Could you share your source on this?  BofA has an oversized property in San Marco and could get by with less than half of that space.  The demand for that piece of property is through the roof, so that site will not sit vacant long.  BofA has recently partnered with San Marco Preservation Society on a couple different projects.  I hope they don't fully leave the neighborhood, but their property needs to be reworked.

[jaxlongtimer]

I heard that BoA might also be closing its San Marco Square branch.  I note with their closure of the Downtown branch, they are referring customers to a Regency branch (not San Marco).

Could you share your source on this?  BofA has an oversized property in San Marco and could get by with less than half of that space.  The demand for that piece of property is through the roof, so that site will not sit vacant long.  BofA has recently partnered with San Marco Preservation Society on a couple different projects.  I hope they don't fully leave the neighborhood, but their property needs to be reworked.

I talk with a lot of people in town so can't recall specifically who told me.  If I double back and figure it out, I am happy to share.  I do think it is telling that BofA referred Downtown customers to Regency Square which is much further away than the San Marco branch.  This might explain why.

[Florida Power And Light]

Imagine New Era Downtown…..
In the case of Duval County, Florida, teeming throngs of residents a long ago image.
Now, Downtown is a Centre for Public Events, engagements.
Waterfront open vistas, open Space.
Central Park replaces Downtown moniker.
No worries, a (“ Craft” ) beer and a great meal are within walk distance.

Downtown; Centrally located Open Space. Some are notable for water features, waterways.
Jacksonville Florida Notable.