The Jacksonville City Council approved a $3 million historic preservation grant Jan. 26 for Augustine Development Group LLC’s proposed $30 million renovation to Downtown’s Independent Life Building.
The Council voted 18-0 to commit money from the city’s Historic Preservation Trust Fund to help finance Augustine Development subsidiary PEP10 LLC’s plans for a 135-unit apartment development at the historic 19-story tower.
The bill now awaits Mayor Lenny Curry’s signature.
The company plans a 21,000-square-foot grocery store on the ground floor, a 10,000-square-foot restaurant and an executive sky lounge.
The Downtown Development Review Board approved project architect Dasher Hurst Architects’ design in December for the renovation of the 1950s-era building at 233 W. Duval St.
According to Dasher Hurst, the proposed restoration is waiting for final approval from the National Park Service, which regulates historic preservation projects in federally designated historic districts, including Downtown Jacksonville.
The building was last used from 1976 through the mid-’90s by JEA as its headquarters and has been vacant since then.
Augustine Development Group President Bryan Greiner and investment partner DLP Capital LLC bought the building Sept. 30, 2019, for $3.7 million.
