The city is currently reviewing five permit applications for the Springfield Lofts, which show an estimated $ 11.1 million building cost on the former Jacksonville Jewish Center property.
No contractor from Tampa-based GNP Development Partners LLC is listed for the project. PQH Group Design Inc. from Jacksonville is the architect.
The property is located at 1341 N. Pearl St. and 205 and 235 W. Third St.
Applications show that two buildings are being renovated; two will be new build; and a warehouse is being demolished and a new structure is being built.
The city council and the Jacksonville Historic Preservation Commission approved the plans in June.
A developer plans to convert the former Jacksonville Jewish Center into apartments.
The commission voted unanimously 5-0 on June 24 to approve three certificates of adequacy for developer Springfield Lofts LLC to create a $ 14 million project of 78 marketable units and 8,000 square feet of commercial office space on the 2.12 acres Establish terrain.
The commission’s decision came a day after councilors voted 18-1 to approve $ 3 million tax-funded incentives for the redevelopment. Councilor Danny Becton voted against the deal and proposed a change in the structure of the deal.
The former Jewish Center was built in 1950 according to a report by the City Planning and Development Department and is listed as a historic building in the historic Springfield neighborhood north of downtown and in Henry J. Klutho Park.
The commission set conditions for approving the project on June 24th, including reviewing the first floor parking garage and adding balconies.
The design and development staff recommended that the features match the architecture of the adjacent historic Springfield home.
The commission also asked Springfield Lofts to review a proposed outdoor swimming pool with landscaping and shrubbery.
Joshua Pardue is a co-principal of GNP Development.
GNP Development Partners LLC purchased the property through Fore Independent # 15 Skyscraper Holding LLC and Springfield Lofts.
Joshua Pardue is a co-principal of GNP Development with Mark Gerenger.
“We are closely monitoring the economy and the capital markets in light of current events and intend to move the project forward,” Pardue said earlier.
Pardue said in February that he hopes to start construction by the end of 2020 and expects a year to complete. The overall project is 94,000 square meters.
The development agreement, elaborated by the city’s Department of Economic Development and approved by the city council on June 23, provides the developer with a 20-year loan of $ 1 million at 3% interest.
The project qualifies for a $ 1 million Recapture Enhanced Value Grant that reimburses 75% of the property’s ad valorem tax increase for 10 years, as well as a $ 1 million grant, when the project reaches a substantial completion.
When the council voted, the rules for public investment policy were dropped in order to create incentives. The project does not create the 10 or more jobs required for a city REV grant and offers more than the 50% tax refund allowed in the policy.
The city’s public investment policy does not approve the completion grant and development loan, which require a waiver from the council.