TUESDAY February 9, 2021
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Daily Record JACKSONVILLE
REDEVELOPMENT
Project Robalo headed to final Council vote
New Daily look for LauraRecord Street Trio JACKSONVILLE
The medical distributor is seeking a $260,000 tax incentive. BY MIKE MENDENHALL
Daily Record Daily Record JACKSONVILLE
A rendering of the Laura Street Trio from Forsyth and Laura streets.
The Trio view from Forsyth Street. The building at the far right is not part of the first phase.
The Downtown Development Review Board will review designs to redevelop the Trio buildings into a hotel with restaurants and retail.
JACKSONVILLE
Images special to the Daily Record
A rendering of the west side of the Laura Street Trio viewed from Laura and Adams streets.
BY MIKE MENDENHALL STAFF WRITER
Laura Street Trio developer SouthEast Development Group LLC submitted its historic renovation project to the Downtown Development Review Board for conceptual review. The estimated $70.4 million plan to convert the three vacant urban core structures into a 146-room hotel with restaurant and retail spaces is scheduled
at the board Feb. 11, according to an agenda and documents released Feb. 4. A staff report recommends that the board grant conceptual approval for the renovation of the Florida Life, Bisbee and Marble Bank buildings, which comprise the Trio at 51 W. Forsyth St. Project plans include an addition to the Florida Life Building to be used as hotel and retail space. SEE TRIO, PAGE 2
DDRB to consider Project 323, a concert venue with a rooftop bar on East Bay Street BY MIKE MENDENHALL STAFF WRITER
The Downtown Development Review Board will consider conceptual approval Feb. 11 for Project 323, a proposed concert venue and rooftop bar on East Bay Street. The 323 E Bay Street RE LLC group
based in Miami paid $1.4 million for the building Jan. 22. The group bought the property from Insetta Family Properties LLC, which previously attempted to sell the property for an entertainment venue. SEE PROJECT 323, PAGE 2
Special to the Daily Record
Project 323 is planned at 323 E. Bay St. by a Miamibased group that bought the building Jan. 22
STAFF WRITER
A $260,000 tax incentive for an undisclosed national pharmaceutical and medical device distributor is headed to a final Jacksonville City Council vote. The Council Rules and Finance committees voted unanimously Feb. 2 to advance resolution 20210063, which includes the Recapture Enhanced Value Grant for the code-named Project Robalo. Documents with the bill say the company is considering leasing 131,000 square feet of a newly developed warehouse in Northwest Jacksonville for its Southeastern U.S. distribution center. Robalo would invest $6.72 million and create 25 full-time jobs by year-end 2023 under the economic development agreement tied to the bill. Dublin, Ohio-based medical supplies distributor Sarnova matches the description of Robalo. The bill will go before the full Council on Feb. 9. Robalo seeks a 50% REV Grant over 10 years up to $260,000. The company intends to create 25 jobs that pay an annual average salary of $58,594 plus benefits. The city will require Robalo to make a minimum $3 million capital investment in the project site by Dec. 31, 2023, to receive the REV Grant, which refunds a percentage of the increased property tax revenue the city gains from improvements to private property. Robalo also will have to show all jobs are in place by the end of 2023 under the agreement. The pharmaceutical and medical device distributor will need to complete $2.4 million in leaseholder improvements to the warehouse by Dec. 31, 2022.
MMENDENHALL@ JAXDAILYRECORD.COM (904) 356-2466
Former Stein Mart CEO sells home Former Stein Mart Inc. Chairman and CEO Jay Stein and his wife, Deanie Collier Stein, sold their Jacksonville riverfront house for $3.9 million on Jan. 21. A deed shows that lawyer Steven Todd Gold and Dr. Katherine Gres Gold bought the 11,625-square-foot property on 2.9 acres at 4470 Worth Drive W. in the Miramar-Lakewood area. Truist Bank of Richmond, Virginia, issued a $2.925 million mortgage. The deed and mortgage were recorded Feb. 4. The Steins’ Jacksonville home along the St. Johns River was listed for $5.2 million by Berkshire Hathaway HomeServices Florida Network Realty.
VOLUME 108, NO. 59 • ONE SECTION