Daily Record Financial News &
Tuesday, November 17, 2015
Vol. 103, No. 002 • One Section
35¢ www.jaxdailyrecord.com
FSCJ’s new plan for student housing College focusing on 20 W. Adams St. instead of Church Street site
This building at 20 W. Adams St. could be housing for Florida State College at Jacksonville students.
Photo by Max Marbut
By Max Marbut Staff Writer Florida State College at Jacksonville is not giving up on its plan to provide housing for students near the college’s Downtown campus along State Street. Representatives of the school and Bethesda, Md.-based Profit Investments, owners of 20 W. Adams St., are scheduled to present a redevelopment and incentives plan Wednesday to the Downtown Investment Authority. The project, estimated at $6.2 million, would renovate the
Council resumes Uber, Lyft discussion
building to create housing for 60 students on the second through sixth floors and a full-service restaurant on the ground floor that would be operated by students in the college’s culinary arts program. Profit Investments did not return phone calls for comment about the project. The developer and FSCJ are seeking from the city up to $1.2 million for the student housing plan: $600,000 from the Downtown Historic Preservation and Revitalization Trust Fund and two low-interest loans totaling no more than $600,000 from
the Northbank Tax Increment Finance Trust Fund. The historic preservation funds would be used during the construction phase to restore the exterior of the building and preserve some architecturally significant elements inside the structure. The loans would be used by the college to offset the management and maintenance costs of the housing units. The college in July proposed development of the building at 218 W. Church St. for student housing. The proposal also included buying 502 N. Hogan St., which would have been used
for the restaurant. That plan was abandoned. “The numbers just didn’t work out,” said college spokeswoman Jill Johnson. “We’re moving to a different building but with the same concept. This is a better opportunity.” The floor plan design for 20 W. Adams St. isn’t finished, but Erin Richman, FSCJ’s executive director of institutional innovation, said the plan is to build four-bedroom suites with private sleeping rooms and a central living room, bathroom and kitchen. Students will pay $735 per FSCJ cont inued on Page A-3
Presenting the flags, honoring the military
City Council over a year ago tried to figure out a way to regulate ride-sharing companies like Uber and Lyft. Members couldn’t find a resolution and punted to the Florida Legislature to take it up during the springtime session. But, a bill to create insurance requirements for the technology-based ridesharing companies stalled. Council members now want to accelerate the process again. A council subcommittee led by Matt Schellenberg has been formed to revisit the local side of the issue. To do so will mean reviewing long-deferred bills filed in the past year and reaching out to legislators to find out if, in fact, they might address the topic when the next session starts in January. “Each city is basically on their own,” said Schellenberg, recalling what the consensus was on the issue during a recent National League of Cities convention. Schellenberg and Council President Greg Anderson met Schellenberg on the topic Monday. As in the past, they weren’t alone. Representatives from several area taxicab and traditional transportation services also were at the table. And like in meetings last year, they spoke up. “It’s an issue because of an unlevel playing field,” said Marcus Blount, CEO of Executive Cab. He said his main concern was inaction after more than a year of talking. “No offense, but it sounds like the same rhetoric,” he told them. For instance, he said his business took a 90 percent hit during the Florida-Georgia football game — a day that normally generates big business. He attributed it to digital rideshare companies like Uber and Lyft. Uber
Public
continued on
Page A-4
A color guard presented the flags during the JAX Chamber’s 13th annual Military Appreciation Luncheon on Monday at the Hyatt Regency Jacksonville Riverfront. The event featured retired Army Gen. John Abizaid, who served as commander of the U.S. Central Command from 2003-07 as the keynote speaker. Terry West, president and CEO of VyStar Credit Union, was the master of ceremonies.
Photo from the JAX Chamber
By David Chapman Staff Writer
Hobby Lobby to open near Town Center Hobby Lobby confirmed it intends to open in the Strand retail center opposite St. Johns Town Center. The Strand is the retail part of the 61.35 acres under contract to Preferred Growth Properties along Town Center Parkway at Gate Parkway. Preferred Growth, a subsidiary of Birmingham, Ala.-based Books-A-Million, intends to buy the property in January from the Arthur Chester III Trust. Hobby Lobby is the first retailer to confirm it will open at the site. Hobby Lobby spokesman Zack Higbee said the company plans on opening in mid-2017. The arts and crafts chain, based in Oklahoma City, operates four area stores in
legal notices begin on page
A-10
River City Marketplace, Mandarin, Jacksonville Beach and St. Augustine. It recently closed its Regency area store as it opened at River City Marketplace. An apartment community also has confirmed it intends to build at the Preferred Growth Properties site. Plans filed with the city show Houston-based Stanmore Partners would develop the 347-unit Ravella
Published
for
at Town Center Apartment Homes on 6.6 acres at northwest Town Center and Midtown Center parkways. A Stanmore executive said last week the company expects to buy the land in the second quarter. Preferred Growth Properties can develop about 45 acres at the site. The remainder is part of the lake that borders the development. Hobby Lobby, whose stores average 55,000 square feet, would join the up to 500,000 square feet of enclosed retail and commercial space that Preferred Growth Properties is allowed to develop on the site. Preferred Growth Properties also can Mathis continued on Page A-2
26,782
consecutive weekdays