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Developer reduces apartments planned for mixed-used center in Neptune Beach
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Plans for the 500 Atlantic development in Neptune Beach now call for 175 apartments, down from the 313 originally proposed last year. It also includes additional commercial and retail space.
TriBridge Residential’s new plan for former Kmart site comes after complaints from neighbors.
BY DAVID CAWTON STAFF WRITER
If at first you don’t succeed, reduce the number of apartments and increase the number of parking spots. TriBridge Residential hopes changes made to its 500 Atlantic mixed-use project proposed for
the former Kmart site along Beach Boulevard in Neptune Beach are enough to garner support from residents who want less density for the area. The company resubmitted plans to the city of Neptune Beach on Thursday that include fewer apartments, more parking and more retail space to promote
Llorens buys Downtown parking lot
KAREN BRUNE MATHIS EDITOR
Miami investor adds to Jacksonville holdings. A group led by Miami-based real estate investor Ramon Llorens bought the 1.48-acre Downtown parking lot by the Omni Jacksonville Hotel, adding
to his North Florida holdings. It is across the street from the Times-Union Center for the Performing Arts. Llorens, through Amkin Terra LLC, paid $6.83 million for the 317 Water St. property in a sale executed June 29 and recorded Monday with the Duval County Clerk of Courts. He bought it from OP Terra Owner LLC, in care of New York-based Och-Ziff Real Estate. OP Terra bought it for $6.4 million in April 2015. The acquisition is one of many made by Llorens in recent years. In December, a group led by Llorens purchased the Greyhound bus station at 10 N. Pearl St., across the street from the TIAA Bank Center, which he also owns.
AK Pearl LLC paid Greyhound Lines Inc. $2.78 million for the 1.21-acre site. The station moved to a new location. In 2015 and 2016, Llorens bought 250 acres along New Berlin Road through Dames Point LLC. Since September 2014, through ownership groups, he bought the TIAA Bank Center, property in the Talleyrand area that includes the former Ford Motor Co. plant, the New Berlin Road property, Southbank riverfront commercial buildings, a Downtown parking garage at 336 W. Bay St., and a 2.78-acre parking lot at Hogan and West Bay streets near that parking garage.
mixed-use. The new proposal reduces the number of apartments from 199 to 175 and includes up to 107,000 square feet of commercial and retail space, a 74-room boutique hotel and a parking garage accessible to the public. The new plans added 20,000 more square feet of commercial space.
Neptune Beach FL Realty LLC and Jarrold Dwaine Dixon Trust own the trio of properties at 436, 500 and 572 Atlantic Blvd. Atlanta-based TriBridge is the developer. No hotel partner is named. “Throughout our planning proSEE APARTMENTS, PAGE 3
Legislation gives Saft until ’19 to hit jobs target Battery maker received millions in incentives. BY DAVID CAWTON STAFF WRITER
When the city agreed to incentives for the Saft America Inc. lithium-ion battery plant in 2009, it did so with the understanding that the company would create 279 full-time employees by year-end 2017. Saft failed to meet that goal, hiring only 149 employees, and now is working with the city to extend the job creation deadline. Legislation introduced June 12 gives Saft until December 2019 to hire the employees. It also penalizes the company $25,000. The 2009 economic development agreement with Saft included $5.3 million in city and $14.9 million in state financial incentives. The city provided a $550,000 Public Service Tax Exemption. Saft also was approved for up to $95.5 million in federal stimulus funds from the American Recovery and ReinSEE SAFT, PAGE 2
KMATHIS@JAXDAILYRECORD.COM
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Two Taco Bell restaurants approved for remodeling PAGE 2 VOLUME 105, NO. 165 • ONE SECTION