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Three development projects underway in downtown

These projects include new apartments and restaurants. ....

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Jacksonville uses big cash payouts in Dun & Bradstreet headquarters deal

The Mayor s Budget Review Committee on Monday unanimously approved recommending the deal that will go next to City Council for a final decision.
Wendland said Jacksonville faced tough competition from other cities that also wanted to land a high-profile company like Dun & Bradstreet.
Obviously, this is a significant investment on our part, but this is what the market is, he told the mayor s review committee.
Mayor Lenny Curry and some City Council members joined Dun & Bradstreet executives last week for an announcement at JAX Chamber about the firm s plan to move to Jacksonville from Short Hills, N.J.
The firm would bring 500 jobs to Jacksonville over a five-year period at an average wage of $77,000, Wendland said. ....

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DIA approves $8.28 million for Union Terminal Warehouse apartments | Jax Daily Record | Jacksonville Daily Record

City Council has to approve the deal with Atlanta-based Columbia Ventures before work can begin. ....

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Union Terminal incentives fall short of developer's request | Jax Daily Record | Jacksonville Daily Record

Atlanta-based Columbia Ventures LLC could receive $893,883 less than requested in city incentives for a $60.8 million plan to convert the historic Union Terminal Warehouse to apartments.
The Downtown Investment Authority released a term sheet May 10 that shows its board will consider $8.28 million in forgivable and deferred principal loans for the affordable housing project through the Downtown Revitalization and Preservation Program.
In its report, DIA staff said only $52.9 million of the project costs are eligible expenses under the program, resulting in the lower incentives offer. The report says that $7.9 million comprises developer fees, expected tenant improvements and reserves.
In April, a Columbia representative said the company was negotiating for $9.2 million in gap financing to complete the 228-unit adaptive reuse project at 700 E. Union St. near Jacksonville’s Eastside. ....

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