Daily Record FINANCIAL NEWS &
WEDNESDAY, MAY 13, 2015
Vol. 102, No. 128 • Two SecTioNS
35¢ www.jaxdailyrecord.com
East San Marco under contract
$60M Publix-anchored project could start early next year East San Marco residents might see their neighborhood Publix Super Market under development by this time next year as part of a $60 million mixed-use project at one of the area’s highest-profile sites. John Carey, managing member of Jacksonville-based Whitehall Realty Partners LLC, said Tuesday that Whitehall is under contract as the co-developer with another group, but he declined to identify it. Carey said financing has been arranged and the capital partner also will be identified in an announcement expected soon. Financing delayed a deal last year for Whitehall to develop the project. “Capital for the project has been arranged and is no longer an obstacle to moving forward,” Carey said. He expects to break ground in early 2016. The more than $60 million total cost includes
both the retail and the residential elements of the project. He said Publix and some of the apartments coule be completed in 15 to 18 months. That means Publix could open there in 2017. The site is at Hendricks Avenue and Atlantic Boulevard in historic and trendy San Marco, not far from the Southbank area of the St. Johns River. Regency Centers Corp. controls the fiveacre property, where signage at the fenced-off
site has long heralded the impending project. Carey responded after Regency Centers Managing Director James Thompson said Tuesday morning that the property is under contract with a residential developer, which would build the apartments and retail center. Jacksonville-based Regency Centers, a nationwide shopping center developer, would then buy the retail stores. Those would include the long-expected Publix. Thompson declined to identify the developer until the due diligence is completed, but he said the sale could be completed by early 2016. He identified Carey as the local partner with the residential developer. “I would like to think if everything goes well, they would be under construction early next year,” Thompson said after Regency MATHIS... CONTINUED
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Downtown board to OK future arena signs
Stacey Goldberg’s Urban Grind Coffee Co. was awarded a Downtown Investment Authority Retail Enhancement Grant. It helped her and her husband, Craig, open their second coffee and pastry shop Downtown.
‘The grant sealed the deal’ DIA retail program paying off
By Max Marbut Staff Writer Patrick Scott had been thinking about Downtown as the place to open his sixth Jimmy John’s Gourmet Sandwiches. A financial boost from the Downtown Investment Authority put the idea on the fast track. Scott is one of six business owners to receive money through the DIA’s Retail Enhancement Grant program, which began in January. The program is a way to encourage companies to open or expand operations Downtown by partially subsidizing buildout costs. The authority approved $28,000 to defray part of the $442,000 investment Scott made to open the sandwich shop at 207 N. Laura St.
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“The grant sealed the deal,” he said. Stacey Goldberg and her husband, Craig, expanded their Urban Grind Coffee Co., opening a second location at 45 W. Bay St. Their original location is in the Bank of America Tower. She said they were considering opening a second coffee and pastry shop Downtown before the grant program was available. Being approved for the $17,000 grant made it easier. “It’s good to have some help with the build-out expense,” she said of the financial help for the new site, which is next door to Daniel James Salon and adjacent to the building’s indoor courtyard. Of the $750,000 budget by DIA, six grants totaling $241,125 have been approved and GRANTS... CONTINUED ON PAGE A-3
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Super Food & Brew was awarded a grant from the Downtown Investment Authority that’s helping fund construction of a restaurant at 11 E. Forsyth St.
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Photos by Max Marbut
By David Chapman Staff Writer Signs of the building’s name are still OK. So, too, are the awning and directional signs that adorn the Jacksonville Veterans Memorial Arena. But outside advertisements — like those for the Hunt, Green & James law firm — aren’t legal. And according to a bill passed Tuesday night by City Council, anything else that will be affixed to the exterior of the city-owned structure will have to adhere to Downtown design standards and be approved by the Downtown Development Review Board. The council bill puts those rules into place almost a week after city attorneys said the exterior advertising by the local law firm violated the city’s charter and state laws. The firm in September signed a $300,000 sponsorship agreement with SMG, which runs the city’s venues. The deal was later amended to allow window advertising on all four sides of the arena. City law, though, said exterior signage had to advertise products, activities or services associated with the facility. Council could amend the charter to change those signage regulations, but state law also was violated when the firm’s advertisements on the north side of the building weren’t far enough away from the highway. Overall, the signage led to pushback from those who oppose billboards and from other scenic groups, with council member Bill Bishop introducing legislation in late January to remedy the situation. “Hopefully, we won’t have to go through all that again,” Bishop said. In addition, the size and location of future electronic billboards at the arena would have to be approved by the Downtown review board. Bishop’s bill passed 14-2, with Reggie Brown and Kimberly Daniels voting against.
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