Soon after the defeat of Lot J deal, what is actually future for downtown Jacksonville?

The old Federal Reserve Building at the corner of Hogan and Church streets in downtown Jacksonville could get redeveloped along with the Florida Baptist Convention Building, located to its right. The tall building in the background is the Independent Life Tower, another empty building slated for revitalization.

JWB Genuine Estate Cash President Alex Sifakis describes the inside of of the abandoned, 96-calendar year-aged Florida Baptist Conference Developing at 218 W. Church St. in downtown Jacksonville this way.

“It appears to be like like ‘Jumanji,'” he reported. “You’ve received skylights that are just holes in the roof and ferns growing in there. You can see from the outside the bricks are slipping off. When you are within you can see the possible, but it also seems like a large amount of do the job.”

The 5-story making developed by famed architect Henry John Klutho is the polar opposite in many ways from the $450 million Ton J development pitched by Jaguars proprietor Shad Khan that went down to defeat last week in extraordinary fashion at a Metropolis Council conference.

Whole lot J would have been a brand name-new progress in the sports activities sophisticated created by a partnership amongst Khan and The Cordish Businesses, an global developer that would have brought its Are living! model of leisure districts to the athletics sophisticated on what is now a stadium-spot parking good deal.

Whole lot J was pronounced useless by Jaguars President Mark Lamping after Metropolis Council voted it down last Tuesday. The next collection of alternatives for downtown development will revolve around proposals to restore long-vacant properties that date back extra than a century.

None of the specific historic renovation projects in the central main of the Northbank will cost as substantially as the $233 million in taxpayer financial commitment and incentives that could have absent into the Great deal J improvement. But when the taxpayer subsidies for various historic developing restorations are included up, it could run into the tens of millions of pounds.

All those proposals will likely consist of the Laura Street Trio whose a few properties in the heart of downtown are thought of the most architecturally major set of historic structures in Jacksonville.