Daily Record Financial News &
Friday, January 8, 2016
Vol. 103, No. 040 • One Section
35¢ www.jaxdailyrecord.com
Latitude 360 forced to shut down Eviction lawsuit led to action on ‘tough’ anniversary
By Mark Basch Contributing Writer Latitude 360 Inc. abruptly closed its entertainment and dining venue on Jacksonville’s Southside on Wednesday, along with a similar venue in Indianapolis, to settle an eviction lawsuit filed by the properties’ owner. However, the CEO of the Jacksonville-based company said Thursday it will continue operating the Latitude 360 concept with one venue in Pittsburgh, and
he hopes the company will eventually be in position Pier 1 to start expanding Imports again. closing Chief ExecuRegency tive Officer Brent area store. Brown said LatiPage A-4 tude 360 reached an agreement at midnight Tuesday to settle the lawsuit filed in October by 30 West Pershing LLC, an affiliate of real estate investment company EPR Properties. EPR owns
INSIDE
So far it’s a 2-man race for council VP Two veterans seeking role for 2016-17
Public
“This was the best way to do that, rather than spend money on litigation,” he said. The eviction lawsuit filed in Duval County Circuit Court said Latitude 360 owed $2.96 million in back rent on the two properties. Brown said the Jacksonville venue near The Avenues mall had been doing well. “It really got caught up in growing pains on the Indianapolis side,” he said. Latitude 360 cont inued on Page A-5
Brown
New lanes on I-95 opening Monday
$21M WALL to WALL REDO
By David Chapman Staff Writer
The race to become the next City Council vice president officially is underway. Longtime council member John Crescimbeni sent letters Monday to his peers announcing his candidacy for the key leadership position in the 2016-17 year. He joins veteran council member Matt Schellenberg, who sent a similar letter in the fall. Crescimbeni touts his more than 15 years of experience, having served on or chaired every standing committee and his “let’s get it done” approach. That means working closely with others for consensus, the letter said, but also “holding city staff’s feet to the fire to ensure results.” Crescimbeni He also uses his efforts to help save the St. Johns River Ferry and his leadership on the Finance Committee, delivering a budget approved in record time as examples of his leadership style. Schellenberg said Thursday he submitted his letter early in the fall when it was rumored Crescimbeni wanted the position, just to let people know he was interested, too. “I’m running because I think I’ve provided collegial leadership over the Schellenberg past four years,” said Schellenberg, who is now in his fifth year as a council member. He cites examples of that as pushing the city to self-insure on health care, advocating for a change in location for the Supervisor of Elections building and working on VP continued on Page A-6
the properties in Jacksonville and Indianapolis. As part of the settlement, Latitude 360 agreed to shut down the venues and turn the properties over to EPR. “Obviously we didn’t want to do that,” said Brown. “Yesterday was our five-year anniversary (of the Jacksonville venue). It’s a tough one,” he said. Brown said ending the litigation allows the company to “take a step back, take a breather” and get its balance sheet in order.
Northbound traffic pattern changing By Max Marbut Staff Writer After nearly three years of driving through a construction site, motorists using the Overland Bridge on Interstate 95, south of Downtown, will find new travel lanes open Monday morning. Before the first rush hour of the week begins, all lanes on northbound I-95 from the San Diego Road overpass to just south of the Fuller Warren Bridge will be shifted to the new roadway. “This is one of the major milestones,” said Ron Tittle, spokesman for the Florida Department of Transportation. The $227 million Overland Bridge project is 78 percent complete, he said, and on schedule to be finished late this year. In order to implement the shift, traffic will be impacted after the Friday rush hour and until about 6 a.m. Monday. The Main Street Bridge/ Map showing Prudential Drive and Acos- lane changes. Page A-3 ta Bridge ramps and the Atlantic Boulevard and Philips Highway ramps will close Friday evening. The ramps will reopen 6 a.m.-8 p.m. Saturday on new roadway and again close overnight. Traffic on I-95 northbound will be reduced to two lanes Saturday evening. The Atlantic Boulevard and Philips Highway ramps will remain closed with detours. The same traffic patterns, times and detours will be in effect Sunday. By Monday morning, three new lanes will be open on I-95, as will the ramps to the Main Street and Acosta bridges. At no time will traffic be detoured off the interstate. The southbound lanes will not be affected this weekend. Traffic on those lanes will be switched in a few months. Signs will be placed at key points along the roadway during the transition and the Florida Highway Patrol and Jacksonville Sheriff’s Office will monitor and direct
INSIDE
Gary Rito
By Karen Brune Mathis, Managing Editor
Torn out to the walls, the rooms in one wing of the Lexington Hotel & Conference Center Jacksonville Riverwalk are almost ready to be rebuilt with new everything. The 143 rooms, six bridge rooms and three suites should be completed in March. The bridge rooms are first-floor meeting rooms and suites, with
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half of those facing the pool area, named after six of the city’s bridges crossing the St. Johns River. That allows the owners, who bought the 35-year-old hotel in June, to start tearing out the remaining 180 rooms for reconstruction. Lexington
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