Jacksonville Project & Construction List

[bobliocatt]

Landing renovations close to starting, Sleiman says

16 Feb. 04

Jacksonville Landing owner Toney Sleiman said a potential incentives deal could be worked out with the city within two to three weeks, which would allow him to start demolition and redevelopment of the riverfront marketplace.

That also would mean a portion of the first phase would be completed in time for next year's Super Bowl, but not all of it.

Sleiman said on Thursday that if the deal, now being negotiated, is approved by the Downtown Development Authority, the Jacksonville Economic Development Commission and City Council, then demolition and construction could start 60 days after that.

He said that the redesign plans also must be approved by the DDA's Design Review Committee.

If all that happens, Jacksonville-based Sleiman Enterprises could start construction three to four months from now, which is later than his initial expectation that he might start work by March.

Sleiman bought the retail center in August for $5 million and vowed to re-energize the struggling center, which opened in 1987. He said he wanted to start construction in March, after city approvals, and complete the first phase in time for the Super Bowl scheduled at Alltel Stadium.

Sleiman said last week that if approvals come soon, part of that phase would be completed, but not all of it.

Sleiman said that the building exterior would be redone and that a "cut through" to open up the marketplace at Laura Street would be completed, creating an open plaza through the Landing.

However, just a few levels of a six-story, 945-space parking garage would be completed, although construction would be halted during the Super Bowl events.

"I want to get as much done as I can before the Super Bowl," Sleiman told participants at the JEA Power Breakfast Series.

Sleiman said the second phase would include another parking garage and two mid-rise mixed-use condominium buildings. The third phase is a 25-story, 500,000-square-foot office tower that would be built on the existing east parking lot.

Sleiman intends to market the building to Fortune 500 companies. "With the Super Bowl coming, we are going to market that a lot," he said.

While he initially proposed a 120-slip marina, he said that would be done later.

Asked the target date for completion, he expects the entire project to be ready in seven to 10 years. All three phases have been estimated at $200 million to $250 million.

Sleiman did not discuss the extent of the incentives, but said "we're in the middle" of negotiations and are discussing borrowing money, paying it back to the city and clawbacks.

The Times-Union has reported that Sleiman was seeking a financing package that topped $50 million and that Sleiman Enterprises and the city were trying to come to terms on Sleiman's request for a low-interest loan.

In the meantime, Sleiman said the Landing is being spruced up, especially the restaurants. "We talked to all the restaurant managers. 'You gotta clean up,'" he said.

Also, Landing consultant Mike Tolbert said that the former game room on the second level is available for community groups and also will become the "Music Factory at the Landing" for dances and other ticketed musical events on Friday and Saturday nights.

On the first floor, the former Lerner's space will become "Club Landing "on Friday and Saturday nights to feature nightclub entertainment and visiting entertainers performing in town.

Sleiman said he continues to work with national restaurant groups, but they are not commtiting to a Landing lease until there is adequate customer parking.

He also said that his parking garages will be brighter and nicer than the city garages. "Jacksonville is the proud owner of the ugliest parking garages downtown that I've ever seen," he said.

Sleiman said that the second- and third-phase condo and office buildings would be built based on market demand. "I am not going to build anything without a tenant," he said.

And he drew applause when he announced that "we have to get our heads out of the sand and change downtown today, not tomorrow."

[M. Brown]

Jax is looking nice.