Council Approves $ 99 Million RD River City Homes, College Park Re-zoning | Jax daily record | Jacksonville Daily Record
Jacksonville City Council promoted two private, mixed-use apartment buildings in downtown Southbank and near the Arlington Expressway on June 8th.
The council unanimously approved a $ 18.27 million redevelopment agreement and tax incentive for the Miami-based Related Group’s plan, the River City Brewing Co. at 835 Museum Circle on Southbank, through an eight-story apartment building and restaurant of at least one 325 units to replace.
The council also voted 18-0 for the new zone of 903 University Blvd. in Arlington to Planned Unit Development with terms for JWB Real Estate Capital to renovate the former Town & Country Shopping Center and convert it into College Park.
Vacation Rentals in RD River City Brewery
The proposed $ 99.16 million Southbank housing development will include a nearly 5,000-square-foot freestanding restaurant overlooking St. Johns River Park and the Friendship Fountain, and a parking garage with 500 parking spaces.
The developer plans to purchase Maritime Concepts’ stake in the city-owned property and purchase the remaining 77 years of the company’s long-term land lease. Maritime owns the existing restaurant.
The 19-0 vote awarded Related a 75%, 20-year Recapture Enhanced Value Grant that could reimburse up to $ 12.99 million of the package’s property tax growth.
The remaining public incentive package includes $ 5.277 million in completion grants for the restaurant and site infrastructure works; Improvements to the public marina with 29 slides; increased maintenance of the adjacent park; and loss of income from city rents.
Prior to the vote, Councilor Rory Diamond noted that Related was working with the recommendations of the Downtown Development Review Board to redesign the project if its plans didn’t get “too warm and fuzzy.”
“When Related hits a deal, they tend to close a whole host of other deals right afterwards,” Diamond said.
“Bringing it to Jacksonville is a huge coup for us.”
JWB Real Estate Capital plans to renovate and convert the former Town & Country Shopping Center into College Park.
According to the documents submitted with Regulation 2021-0196, JWB plans to convert the site with apartments, a food court park, redesigned parking lots and a shopping street with retail, restaurant and office space anchored by a grocery store.
JWB plans to build two, three-story residential buildings in College Park with a total of 90 units and approximately 72,000 square feet.
An amendment to the bill, approved on June 8th and recommended by the Council’s Land Use and Zoning Committee on June 2nd, requires the property developer to have at least six feet high, 100% opaque fence or wall and wall Signage installed to warn of alcohol consumption outside the premises between the food court and the adjoining gas station and the McDonald’s restaurant.
The change restricts the College Park property to a liquor store, which, if included in the redevelopment, must be part of a 20,000-square-foot grocery store.
During the council meeting on May 25, District 2 member Al Ferraro recommended that the college park reallocation be referred to the committee to handle alcohol sales in development and delay reallocation.
The center is located on northeast University Boulevard and the Arlington Expressway. It was built in 1953 and covers around 200,000 square meters on 19 hectares.
Councilor Ron Salem abstained because of his alleged financial association with the developer.