JWB plans multi-family construction next to Porter House Mansion | Jax Daily Record | Jacksonville Daily Record
Alex Sifakis, president of JWB Real Estate Capital LLC, said the company is planning an apartment building, mixed-use development downtown on the vacant lot adjacent to the Porter House Mansion.
Sifakis outlined preliminary plans for the project on May 21st during a virtual meeting of the JAX Chamber Downtown Council.
Alex Sifakis, President of JWB Real Estate Capital LLC
Through 510 N Julia LLC, JWB paid $ 2.605 million in August for the 510 N. Julia St. mansion and 1.5 acre block it is on.
“That will probably not start until the middle to the end of next year, but we are currently working on the concept,” said Sifakis.
Sifakis said after the meeting that the housing project could have seven floors. JWB is working on the cost forecasts and financial analysis.
Sifakis showed Downtown Council members an aerial view of the Porter House block, with street-level retail outlets overlooking West Church and Ashley Streets.
He also described the outdoor seating planned for a restaurant in the basement of Porter House.
The city approved River City Contractors Inc. on Feb. 19 to begin work on Americans with Disabilities Act and restroom renovations in the four-story, nearly 16,000-square-foot building at a cost of $ 200,100.
During his presentation, Sifakis said that West Church Street retail would have access to the outdoor seating area.
In August, Sifakis announced that the structure was being renovated as office space for a single tenant on the top three floors for rental. He estimated a $ 600,000 project.
JWB and Sifakis were active in the northwest of the Downtown Northbank, the North Core.
The vacant land next to the Porter House Mansion could become a mixed-use settlement.
Sifakis announced to Downtown Council that JWB plans to lay the foundation stone within two months for an estimated $ 18.55 million renovation and restoration of the historic Florida Baptist Convention and Old Federal Reserve Bank buildings.
The city council will shortly consider JWB’s application for a $ 8.62 million loan for the Baptist Convention Building at 218 W. Church St. and the Federal Reserve Building at 424 N. Hogan St.
The Downtown Investment Authority signed the incentive deal in January.
The project will include 24 standard one-bedroom studios and apartments, as well as three restaurant areas and a banquet / events room between the two buildings, which are connected to JWB’s historic Seminole building next door via a shared courtyard.
The real estate company bought a nearby 22,035-square-foot warehouse from the First Baptist Church in Jacksonville for $ 652,500 in March.
Sifakis said May 21st that JWB is planning a grocery hall and other entertainment purposes at warehouse 331 W. Ashley St.
He told the council that JWB is not the only developer in the north core.
The subsidiaries of the Augustine Development Group are preparing the start of the multi-family and mixed-use renovation of the historic Independent Life Tower. Wyndham renovates the Ambassador Hotel to a TRYP; and remodeling and multi-family expansion of the historic Central National Bank Building.
Downtown investors Jim and Ellen Wiss are proposing a phase 2 apartment development on West Ashley Street with 60 units to complement the larger development they are planning nearby. In addition to some retail uses, a total of around 260 units will be created.
Sifakis said JWB and other developers working in the north core and on the Hogan and Laura street corridor are looking to create density.
“As part of the cluster development, we consider it crucial that you expand the existing strengths and the existing infrastructure,” he said. “We think Corridor (Hogan) and Laura (Streets) already have a lot of retail stores on the first floor, there are a lot of existing historic buildings. It’s really important. ”