Another piece of the Southbank is in play for redevelopment that City Council Vice President Lori Boyer said could help generate a “renaissance” along the eastern end of the Jacksonville Riverwalk.
Here’s what she’s talking about:
South Florida investor Ramon Llorens took control of riverfront acreage in front of the Lexington Hotel & Conference Center Jacksonville Riverwalk at Prudential Drive and Riverplace Boulevard and also the triangular parking lot on the southwest corner, property records show.
Along with the more than 6 acres that Llorens acquired, Phoenix-based Alliance Residential Co. has a contract on several acres east of the Lexington for development of up to 265 apartments called Broadstone River House.
In the middle sits the Lexington, whose new owners plan to invest up to $20 million to redevelop the 34-year-old hotel.
And farther to the east of the Lexington is the 28.6-acre site targeted by Jacksonville developers Peter Rummell and Michael Balanky as the mixed-use Healthy Town project.
“To see so much activity with what is going on with Healthy Town and all the parcels really speaks well of the Southbank,” said Boyer, whose district includes the properties.
She called it a “renaissance.”
“It tells me that people are optimistic, that they see future development being successful,” she said.
Boyer said she hasn’t met with Llorens and doesn’t know what he plans for the property, but thinks it has the potential for mixed-use residential, retail and commercial uses.
The acreage acquired by Llorens and under contract to Alliance Residential was owned by Riverwalk Jacksonville Development LLC of Miami.
That group owned 10.85 acres around the Lexington and was disposing of it as part of its Chapter 11 bankruptcy reorganization.
Llorens has taken control of the 1.41-acre west parking lot and 4.6 acres called the Riverplace Parcel that includes the Chart House restaurant, records show.
Duval County records show that Llorens, through Brickell South Miami Developments LLC, was granted the deed to the property Aug. 31 by Riverwalk Jacksonville Development LLC of Miami.
The deed was transferred at a consideration of $10. It was recorded with the Duval County Clerk of Court on Sept. 1. It follows Brickell South’s satisfaction of the mortgage.
Sabadell United Bank of Miami and Riverwalk Jacksonville Development LLC assigned the $3.61 million loan to Brickell South. That assignment was recorded Aug. 21. Brickell South filed a satisfaction of the mortgage Sept. 1.
Llorens has declined comment about his Jacksonville investments. He already has paid almost $58 million in EverBank Center and property at Talleyrand and in Dames Point.
He began his Jacksonville investments a year ago.
Riverfront Jacksonville’s disclosure statement filed in July with its second amended plan of reorganization states it entered into a purchase, sale and settlement agreement June 18 with Llorens’ family-owned Brickell South Miami Developments LLC.
That agreement included what are called the Riverplace Parcel and the west parking lot.
The agreement stated the Llorens group would pay $1.75 million and satisfy the $3.61 million note and mortgage on the property, the statement says.
The Lexington team wants to meet with Llorens to discuss his plans, ideas and vision for his property and to share their plans. Vantage Hospitality is based in Coral Springs.
Gary Rito, president of president of the Vantage Hospitality affiliate Brown Nester Hospitality Services, said the Vantage team wanted to meet with Llorens to “see how we can be both good neighbors and partners in the area’s future development.”
Rito said the Vantage team “has heard nothing but great things about him as a person and developer.”
In a statement this morning, Rummell said momentum is building on the Southbank.
“We welcome seeing others invest and participate in the area’s renewal efforts. Someone had to be first, and we are glad to have new neighbors join the effort which will allow us all to be successful,” Rummell said.
The Downtown Investment Authority Downtown Conceptual 2025 Redevelopment Master Plan shows the Southbank as an area for multifamily residential, fine-dining restaurants, office and community-oriented retail, active uses along the waterfront, a pedestrian link to Riverplace Boulevard and the Southbank Riverwalk, and public access to the waterfront.
One of the independent authority’s goals is to increase rental and owner-occupied housing Downtown, targeting key demographic groups seeking a more urban lifestyle.
An objective under that goal is to actively pursue a minimum of 3,850 built and occupied multifamily units by 2025, striving “to induce” construction of 350 a year.
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