Downtown Jacksonville

[bobliocatt]

I don't remeber him saying that at the Southbank meeting. The Strand broke ground this past summer and is already up to the second floor. The Peninsula will go up between the Strand and Radisson's parking lot. Tracy did mention that phase three would probably be converted into another residential tower, instead of office, as originally planned.

[Urban_Legend]

I like the new Peninsula site, but that pale lady who winks at me gives me the creeps, lol.

[Urban_LA]

Hey Lake...thanks for the follow-up. I probably lost track as I was trying to listen and take notes at the same time while Tracy was talking.

Hopefully both will do well financially and urbanistically. They are definitely a step up from the tired Southtrust building. Yeah, yeah...it's a building of architectural history, but it's pretty ugly to me.

The Urb

[wolfdawg54]

The Strand and the Penninsula will definitely be a major asset to the Southbank and downtown. Now that the Super Bowl is over, it is time to begin!

[bobliocatt]

Also, I hate to play Mr. Cynic ... but note that another dailyrecord article today refers to the developer building only a single tower east of Aetna. Frankly, I still don't see how they are going to build either tower, let alone both, without significantly demolishing the lowrise wings of the Aetna building.

<{POST_SNAPBACK}>

If these are condo towers, I'm sure that they plan to phase this development instead of building both, at once, since these will be quite on the large size for this market. On the other hand, months ago they stated this development could possibly be rental. Maybe the east tower will be condos and the west tower will be apartments, which would make this development similar to the Strand & Peninsula. I guess we'll just have to wait and see.

[vicupstate]

They are definitely a step up from the tired Southtrust building.  Yeah, yeah...it's a building of architectural history, but it's pretty ugly to me.

The Urb

<{POST_SNAPBACK}>

Not to start a debate, but I think Jacksonville is unusual in that a high percentage of it's circa '60's and '70s high rises are attractive, and have aged relatively well. The South Trust building to me is very striking, especially at night. There is a lot of black-steel and glass-only high rises from that era, that look very bland and carbon-copied. Beauty is in the eye of the beholder.

[vicupstate]

Parkway to buy Southbank buildings

Stewart Verney

Parkway Properties Inc. said it has a contract to purchase two adjacent buildings on the Southbank for $29.3 million. The Business Journal reported in December that officials from the Jackson, Miss.-based real estate investment trust were in town that month talking with tenants at the Stein Mart and AvMed buildings, which are across Flagler Avenue from one another on Riverplace Boulevard.

Officials from both Liberty Property Trust, which owns the buildings, and Parkway were unavailable for comment Tuesday. But Parkway President and CEO Steven Rogers told analysts in a conference call Monday they have a contract, subject to due diligence, to purchase "two central business district office buildings ... on the Southbank of Downtown Jacksonville."

Rogers said the projected closing date is early March, at which time further details of the properties will be provided. But Rogers did say why the company likes the Jacksonville market, citing job growth that's better than the national average and a corporate relocation market that has attracted CSX Transportation and Fidelity National Financial Inc. in recent years.

"I like this city and particularly the Southbank submarket Downtown," Rogers said.

[Urban_Legend]

I agree Vic. Although most of Jax's architectural treasures are in the pre-WWII category, its "modern" stuff from the 60's wasn't that bad. Mind you, alot of the ugly stuff is gone (old Friendship Park, SEARS, etc.) But the Aetna is one of my favorite buildings, especially with its remodeling and all. And I practically grew up in the Southtrust building, since my mom worked at Rogers Towers. I loved that building, and it got nice renovations also.

[bobliocatt]

The JEA Tower, off of Main Street, isn't that bad either. This is another reason why I don't mind seeing the old Haydon Burns library demolished, because we are blessed to have a decent amount of well designed large buildings from that era.

[bobliocatt]

Buying the Ball; City takes first step

by J. Brooks Terry

Staff Writer

Legislation that would allocate the $23 million the City needs to purchase one of downtown

[JaxInvestor]

Also, sorry if this has been mentioned, but the Peninsula has a brand new website design. http://www.thepeninsulacondos.com/

the new site stinks compared to the original, IMHO. also, about renderings, funny...San Marco Place did the same thing...conveniently leaving out the Strand and Peninsula in the renderings of the views facing the river...oops.

[Urban_LA]

Maybe it's just me, but I have never been a huge fan of the SouthTrust building...or the CSX building...or the TU building...or the Hilton...or the City Hall Annex building. Hopefully these buildings will be greatly renovated and/or removed to make way for better architecture.

That being said, the SouthTrust building does have it's merits and I love the views to the water...makes me wish I worked for Rink Design. No, not really, but the views are great. I guess I have not lived in Jax long enough (been here since '98) to become accepting of it.

After all of this, it would be intersting to post a list of the top 15 buildings in downtown Jax to see which would prevail. Or start a thread listing some of the "hidden" architectural gems in town that folks could visit/view/drive-by.

Just a thought...

The Urb

[Urban_Legend]

[Captain Obvious]

2 towers project may get new life

International real estate developer interested in teaming up on Riverpointe.

By RYAN GEDDES

The Times-Union

Hines Interests LP, an international real estate developer with an estimated $14 billion in assets, could partner with developers of the proposed Riverpointe twin-tower residential project on the Southbank, according to city documents.

The privately-held Houston company builds, manages and buys both residential and commercial properties in 13 countries and is responsible for the upscale Palencia subdivision in northeast St. Johns County.

Boynton Beach company Krook Douglas Development first proposed the side-by-side 48-story residential towers in March and gained design approval from the Downtown Development Authority's Design Review Committee five months later.

The plans called for 550 residential units and 65,000 square feet of retail space on a parcel of land between the St. Johns River and the Aetna building, the former Prudential building. If built as designed, the 750-foot structures would be the tallest in downtown Jacksonville.

The rest of the article is here...

http://www.jacksonville.com/tu-online/stor..._17931529.shtml

______________________________________________________

I wasn't aware that Riverpointe had ever died or even hiccuped ... so the "to get new life" headline makes no sense to me. However, it's nice to read that deep pockets are getting involved.

Also, it's funny how spoiled I have become regarding Riverpointe. It's all happening so fast! It's easy to forget that the darn thing wasn't even announced ten months ago. That's an insanely short time in the world of highrise development. If this thing starts construction in 2006, nevermind 2005, it will have still happened in a hurry.

(Although, am I the only one concerned about the developer's annoying secrecy regarding this project? One would think that a developer would relish any media attention/publicity he can grab.)

[bobliocatt]

I seriously doubt this project ever died, considering how much Krook Douglas paid for the Aetna Building site less than a year ago, for the right to develop high-rise residential units there. However, Riverpointe, like LandMar taking over the Shipyards, definately instantly becomes a much stronger project with a large company, like Hines, backing the development.

From the article:

"The Aetna towers project is requiring more residential than the DRI originally allotted for the Southbank," said JEDC spokeswoman Jean Moyer. "If you grant these units to one project, that will affect future ones, so you want to be careful how you allocate those rights."

Because Riverpointe would add 550 units to the Southbank, JEDC would have to decrease a proportional amount of office space or other land use in the area to balance the traffic load.

Moyer said JEDC staff were scheduled to meet this week to discuss various aspects of the Southbank DRI, including the possibility of extending the lengths of some of the document's phases.

Since developers haven't asked for city incentives, it sounds like this DRI issue may be the hold up on this project. I assume the railroad may be a big factor requiring a DRI change. The site is adjacent to a skyway station, the Acosta Bridge and I-95. Hopefully, that should be enough to ease the city's fear on it being to large of a project, for that general area. Other than that, I'm sure they would love to get underway, as soon as possible, considering the other large Southbank projects are under construction & the 1,500 unit San Marco Riverwalk is moving forward as well.

[vicupstate]

I seriously doubt this project ever died, considering how much Krook Douglas paid for the Aetna Building site less than a year ago, for the right to develop high-rise residential units there.  However, Riverpointe, like LandMar taking over the Shipyards, definately instantly becomes a much stronger project with a large company, like Hines, backing the development.

<{POST_SNAPBACK}>

I agree with Lakelander that this "adds momentum", but doesn't mean the project was dying or stuck in neutral. If that had been the case, Krook could have asked for incentives, which they weren't doing. Given the size and impact of this project, they could have justified asking for incentives.

While Krook did pay a lot of money for the site, I don't necessarily think it was a big price, wouldn't the Aetna building itself, be worth the money they paid? After all, the building had just been renovated and has a huge new garage. Now they have the office building and a two tower site to go with it.

I hope they resolve this traffic issue can be resolved quickly. I am eager for this one too.

My biggest fear is that with Hines now in the picture, the "affordable" aspect of these units ($150,000-$170,000 starting prices) will go out the window. Hopefully Krook will insist on that.

[mwfsu84]

To me the biggest surprise was that the developers of Riverpointe weren't asking for any tax incentives or money from the city. That's usually a big reason why these deals die. I feel like this could go forward.

[FLORIDA SKYRISE ORDER]

Also, sorry if this has been mentioned, but the Peninsula has a brand new website design. http://www.thepeninsulacondos.com/

It's very weird. Very SimCity, in my opinion. Their sales are obviously going well if they can afford to screw around with silly new site designs.

Two noteworthy things:

- The new rendering does NOT show the Strand, even though it will be completed first.

- The Peninsula rendering is clearly and significantly taller than Riverplace tower. If only renderings could ever be trusted ... oh well.

<{POST_SNAPBACK}>

I DON'T TRUST THE NEW RENDERINGS OF PENINSULA; NOTE THAT ALL THE OTHER SKYSCRAPERS LOOK SQUATTY AND SMASHED COMPARED TO PENINSULA; YOU'D THINK THAT PENINSULA WAS THE TALLEST BUILDING IN JACKSONVILLE IN THE NEW RENDERING!

FLORIDA SKYRISE ORDER

[Viper]

Well, it is 36 storys and that just 1 shy of the Modis tower and a few short of Bank of America, granted they are commercial. It may not surpass them but it will come pretty close.

[vicupstate]

I DON'T TRUST THE NEW RENDERINGS OF PENINSULA; NOTE THAT ALL THE OTHER SKYSCRAPERS LOOK SQUATTY AND SMASHED COMPARED TO PENINSULA; YOU'D THINK THAT PENINSULA WAS THE TALLEST BUILDING IN JACKSONVILLE IN THE NEW RENDERING!

FLORIDA SKYRISE ORDER

<{POST_SNAPBACK}>

The rendering is a bird's eye view from a few feet away from the Peninsula. Being so close to that building, and farther away from Modis, et al. naturally makes the Peninsula look taller. That is how the human eye would see it from that point.

[vicupstate]

From Downtown This Week...

Also at the Chamber — they now own the parking lot between their building and the ramp coming off the Main Street Bridge. The lot had been owned by developer Bucky Clarkson, who had talked about putting a hotel on the site. The Chamber needs parking badly, with only a few places for staff and visitors, and will merge the new lot with their own.

From the Business journal RE transactions, it looks like the Chamber paid $1,835.000 for this lot. This is a bad move in my opinion. I would much rather a hotel go there. We know how under-served the downtown market is for hotel rooms for large events like the SB or Florida/Georgia, etc. I have never had a problem finding a visitor's parking spot at the chamber either.

Personally, I would prefer the Chamber move from that site altogether, so that something could fill in the remainder of the Bay St./Independent Drive block. Hopefully something that would draw in pedestrians and help connect the Riverwalk with Bay Street. An excellent choice would be the Peterbrooke Chocolate store/factory.

[scongro]

I don't know for sure, but it appears that the southbank is elevated more than the northbank. For example, there is a 10 story difference between the Southtrust Tower, and the Modis Tower, however they don't look nearly that different in height.

[Urban_Legend]

I agree, that Chamber building is "less-than-inspiring". It's a shame that it has to waste space near the new entertainment area. Maybe they'll move, who knows. They could've bought that lot with the hopes of making a profit with some developer building a hotel/retail thing.

[vicupstate]

The number of floors can be a deceptive comparison, as the height of each floor may be significantly different. The South Trust building (aka Riverplace Tower) is 28 stories and like 432 feet tall. The Peninsula is 36 floors but about 30 feet shorter, I believe. Modis is 37 floors and 535 feet tall.

[vicupstate]

I agree, that Chamber building is "less-than-inspiring".  It's a shame that it has to waste space near the new entertainment area.  Maybe they'll move, who knows.  They could've bought that lot with the hopes of making a profit with some developer building a hotel/retail thing.

<{POST_SNAPBACK}>

I thought of that too. I would certainly love that, but it might be too good to be true.