FRIDAY December 4, 2020
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Daily Record JACKSONVILLE
REAL ESTATE
Poll: Majority oppose city funding for Lot J project
Developers plan to buy 47 acres at Daily Record Beachwalk for mixed-used project JACKSONVILLE
UNF survey also finds fading job approval for Mayor Curry and Jaguars owner Shad Khan.
Daily Record Daily Record JACKSONVILLE
BY MONTY ZICKUHR MANAGING EDITOR
JACKSONVILLE
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Beachwalk features a 14-acre Crystal Lagoon. The 3,000-acre community includes homes, offices, retail stores and an elementary school. Beachwalk is along County Road 210 about 2 miles east of Interstate 95.
PEBB Enterprises and Falcone Group plan to add waterfront restaurants, retail and hotel space at the St. Johns County site. BY KATIE GARWOOD STAFF WRITER
PEBB Enterprises and Falcone Group announced plans Dec. 1 to purchase 47 acres in the master-planned Beachwalk community in St. Johns County to construct retail, restaurant and hotel space. The site is adjacent to the community’s Crystal Lagoon, a news release said. The mixed-use development will include multitenant outparcels, singletenant leased pads, waterfront restaurants, retail shop space on the water and
a 100-room hotel. The news release said more than 150,000 square feet of new retail space will be constructed on the property. PEBB and Falcone plan to close on the property early next year. They did not disclose the sale price. Preleasing has started, and several parcels already are under signed letters of intent, it said. “This development is a tremendous way to expand our partnership with Falcone Group and deliver much-needed retail directly within the Beachwalk community,” PEBB Enterprises President and CEO Ian Weiner said in the release. “We anticipate strong demand for the retail and restaurant space, similar to the activity we are seeing at our nearby projects.” Beachwalk is a 3,000-acre community that includes homes and residences, offices, retail, industrial facilities, an elementary
school and the 14-acre Crystal Lagoon. A 300-unit multifamily complex is expected to break ground in January. The two groups also are developing 65,000 square feet of medical, retail and restaurant space on 14.88 acres south of County Road 210. They paid $4.95 million for the property Aug. 4. PEBB is developing a 48,400-squarefoot Publix store and 10,500 square feet of in-line retail space at the same site. The Publix center is expected to be completed in the summer and is nearly fully leased. “The new retail and restaurant offerings will further cement Beachwalk as a dynamic, fully integrated community,” said Falcone Group Chairman and CEO Art Falcone in the news release. KGARWOOD@JAXDAILYRECORD.COM (904) 356-2466
Plans to spend $233 million in city money on Shad Khan’s Lot J project are opposed by the majority of Jacksonville registered voters, according to a University of North Florida Public Opinion Research Lab poll released Dec. 3. The poll also found fading support for Jacksonville Jaguars owner Khan and Mayor Lenny Curry and little interest to fund improvements to TIAA Bank Field. Lot J is the proposed $450 million mixeduse development west of TIAA Bank Field that is a partnership of Binder the city, Khan development company Gecko Investments LLC and The Cordish Companies. The city funding has yet to be approved by Jacksonville City Council. When asked whether they support or oppose the city spending $233 million to fund the project, 54% of respondents said they strongly or somewhat oppose the project, with 43% strongly or somewhat supporting it. “A massive project like the Lot J plan is bound to have mixed public support, but 37% of that opposition strongly opposes the proposal as it is,” said Michael Binder, UNF Public Opinion Research Lab director, in a news release with the poll. The poll found that 80% of the SEE POLL, PAGE 2
Stein Mart seeks more time on bankruptcy plan Stein Mart Inc. filed a motion in bankruptcy court Dec. 1 asking for more time to file its Chapter 11 reorganization plan. The retailer filed for Chapter 11 bankruptcy protection Aug. 12 and shut down most of its operations but it still needs to file a plan to pay off creditors. According to the motion to extend the time, Stein Mart had exclusive rights to file a plan until Dec. 10, but it wants to extend that deadline to Jan. 18. The motion said Stein Mart circulated a draft plan to creditors Nov. 5 but the Committee of Creditors Holding Unsecured Claims had concerns with it. The committee is working with the company to resolve those concerns and supports the time extension.
VOLUME 108, NO. 14 • ONE SECTION