TUESDAY October 26, 2021
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Daily Record JACKSONVILLE
DEVELOPMENT
THE MATHIS REPORT
AtkinsDaily ups RiverfrontRecord Jacksonville plan to $2 billion, adds hydropower JACKSONVILLE
Daily Record Daily Record JACKSONVILLE
SouthEast Development Group principal submitted his public-private master plan offer to the city Oct. 19.
Bank OZK buys building from 121 Financial
BY MIKE MENDENHALL STAFF WRITER
SouthEast Development Group Principal Steve Atkins says underwater electricity-producing turbines could be used to power his proposed $2 billion redevelopment of a mostly city-owned stretch of the Downtown Northbank riverfront. At a news conference Oct. 21, Atkins said he included the turbines, which would be submerged in the St. Johns River, in an unsolicited public-private partnership proposal he submitted to the city Oct. 19. Atkins said the privately owned power-generating facility could offset public infrastructure costs in his pitch to build more than 1.8 million square feet of mixed-use commercial, residential, hotel and convention space. The project is planned on 25 acres along the river from the former Jacksonville Landing site to southeast of TIAA Bank Field. A cover letter in the proposal shows the Riverfront Jacksonville master plan was sent to Mayor Lenny Curry, Downtown Investment Authority CEO Lori Boyer and City Council President Sam Newby. Atkins said Oct. 21 that SouthEast and its development partners expanded the master plan announced June 1 to include existing amenities and planned projects. The cost, which has increased from $1.1 billion to $2 billion, has not been publicly discussed by Boyer or DIA leaders, who have their own public park plans and are vetting other private development interests along the riverfront. Atkins told reporters he is pushing city and DIA officials to consider the Riverfront Jacksonville master plan and hopes to conclude negotiations by early next year. “We need for these things to happen within the next 90 to 120 days,” Atkins said.
KAREN BRUNE MATHIS EDITOR
JACKSONVILLE
Photo by Mike Mendenhall
SouthEast Development Group Principal Steve Atkins said Oct. 21 that he submitted his $2 billiion Riverfront Jacksonville master plan to the city. See renderings of the plan at JaxDailyRecord.com.
SouthEast’s financial partners are investment banking firms Goldman Sachs and Piper Sandler & Co. “The capital is at the table now. It’s a competitive market. If we can’t find a place or a pathway to employ this capital here in Jacksonville, it has to be placed in another market,” Atkins said. HYDROKINETIC ENERGY
The proposal calls for turbines that would generate hydrokinetic electricity and provide power to buildings in the Riverfront Jacksonville development. Riverfront Jacksonville plans show SouthEast is working with Herndon, Virginia-based design and consulting firm ATCS and San Francisco-based resiliency infrastructure company Swinerton on the
The Riverfront Jacksonville consortium Financial partners: Investment banking firms Goldman Sachs and Piper Sandler & Co. Architectural firms: Gensler; Nelson Worldwide Inc.; and SWA Architects. Civil engineer: England-Thims & Miller Inc. Danis Construction General contractor: Brasfield & Gorrie Civil and coastal engineer: Olsen Associates Inc. Parking and planning consultant: THA Consulting Legal advisor DLA Piper
The former Bank of the Ozarks says it will lease the office to the Jacksonville-based credit union until mid-2022. Bank OZK, based in Little Rock, Arkansas, bought an office building in Mandarin from 121 Financial Credit Union for $2 million in a sale that closed Oct. 12. Jacksonville-based 121 Financial continues to occupy the building at 12250 San Jose Blvd. “121 continually monitors market conditions and branch locations to ensure we are placed conveniently to our members. Based on these conditions, we chose to sell and lease back the Mandarin location as we continue to monitor our options,” said Paul Blackstone, COO of 121 Financial, in an emailed statement Oct. 21. “If/when we alter our plans, as in typical fashion, our membership will be the first to know.” Bank OZK said by email that the current tenant at 12250 San Jose Blvd., which is 121 Financial, will remain until mid-2022. The 2,668-square-foot office was built in 2001 on 1.47 acres. 121 bought the property in May 2012 from Regions Bank for $835,000. “We have acquired the propSEE MATHIS, PAGE 2
SEE ATKINS, PAGE 2
First Watch opens Oct. 25 in Ortega Park First Watch opened its 4,282-square-foot restaurant Oct. 25 in Ortega Park. The restaurant is at 4407 Roosevelt Blvd., Suite 585, in the former Roosevelt Square. “Since opening the doors of our first Jacksonville restaurant just shy of a decade ago, the response from the local community to our fresh approach to breakfast, brunch and lunch has been astounding,” Tom Shackton, vice president of operations, said in a news release. It is the 10th Northeast Florida location for First Watch. The restaurant serves its full menu from 7 a.m. until 2:30 p.m. daily.
VOLUME 108, NO. 241 • ONE SECTION