Daily Record Financial News &
Wednesday, November 1, 2017
Vol. 104, No. 250 • One Section
35¢
www.jaxdailyrecord.com
More LaVilla housing in works Vestcor wants to add a second phase to its apartment project that’s not finished, but already fully leased. By David Cawton Staff Writer Downtown’s LaVilla neighborhood could gain 132 more residences and a possible commercial project on a vacant cityowned site. The Downtown Investment Authority approved several resolutions Tuesday that allow DIA staff and developers to take steps toward the development. Vestcor Inc. wants to continue building housing in LaVilla with a proposed $28 million secondphase addition to the Lofts at LaVilla. The first phase, a 130-unit apartment project near the Prime Osborn Convention Center, is scheduled to open by yearend and is completely leased. The company also is building the 118-unit Lofts at Monroe nearby. The DIA approved a $400,000 loan from the Downtown Economic Development Fund along with a Recapture Enhanced Value grant for 75 percent of the ad valorem tax increment generated over 15 years. The REV grant, funded through the Northwest Tax Increment Finance District Trust Fund, would not exceed $2.98 million over that time. Of the 132 one- and twobedroom apartments, 80 would be considered affordable hous-
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Salsas Mexican Restaurant will anchor Bay95, a neighborhood retail center that will be developed at 8738 Baymeadows Road E.
Property Theater developing a pair of Southside projects Bay 95 is a retail center and Butler95 is office-warehouse condos.
Southside is gaining two developments – Bay95 and Butler95 – by Property Theater LLC, led by Charles Skinner and Justin Clark. Bay95, a Southside neighborhood retail center for lease, won city permitting approval Friday for development at 8738 Baymeadows Road E. Butler95 Business Center, an officewarehouse condo project at 8200 Cypress Plaza Drive, is in construction permitting review. Skinner said Bay95 is about 55 percent leased, including Salsas Mexican Res-
taurant, Marco’s Pizza, and a dry cleaner and nail salon. He said a regional breakfast and coffee shop tenant is in negotiation for 2,000 square feet. The city approved a permit Friday for C.&R. General Contractors Inc. to build the 14,750-square-foot retail center at a project cost of almost $1.9 million. Skinner said there are 12 retail spaces at the project starting at 1,200 square feet. Some have been combined for larger tenants. Bay95 is at northeast Baymeadows Road and Interstate 295. C.&R. General Contractors landed a permit Sept. 27 to clear almost 2 acres for the project. Bay95 LLC, a real estate investment company, is led by brothers Russell Skinner and Bryant Skinner Jr. Brother Charles Skinner is vice presi-
dent of Property Theater LLC and will develop the multitenant retail center for them. The site is near Ikea at northwest Gate Parkway and I-295 and other projects along Gate Parkway, including the new Southside Quarter and the Gateway Village at Town Center properties. Clark said high-end demographics, housing development and traffic patterns heading south toward Florida 9B “make this site even more desirable for retailers.” Rents start at $30 a square foot, which Clark said are lower than that for comparable space at St. Johns Town Center. Bay95 fronts R.G. Skinner Parkway to the north along Baymeadows Road East. Butler95 Business Center, 6 miles northwest, is a 69,900-square-foot, Mathis
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La Villa
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Constitution Revision Commission reviewing proposals Restoring voting rights to felons was brought up at every stop during group’s statewide tour. By Max Marbut Associate Editor The Florida Constitution Revision Commission is considering about 50 proposals from the 37-member panel. In addition, nearly 800 proposals were submitted by the public. Ten substantive committees
Public
and two procedural committees have until May 10 to review the proposals to determine whether an amendment will be placed on the November 2018 general election ballot. If an amendment receives at least 60 percent of the popular vote, it will become part of the state’s constitution. Jacksonville attorney Hank
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Coxe is chair of the Ethics and Elections Committee. It meets today in Tallahassee to hear presentaCoxe tions on proposed amendments related to campaign finance and regulation, ethics requirements for lobbyists and voting/civil rights issues. One of the items on the committee’s agenda today is a pro-
posal by Commissioners Chris Smith, an attorney in Fort Lauderdale, and Tampa attorney Arthenia Joyner, a former state representative and state senator. The proposal is to amend Section 4 of Article V of the state constitution to allow restoration of voting rights for certain felons upon completion of all terms of sentence, including parole and probation. Those convicted of murder of a felony sexual offense would not have voting rights restored under
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the proposed amendment. Coxe said the issue was brought up by the public at every stop on the commission’s statewide “Florida Speaks, We Listen” tour that began in April. More than 2,000 proposed revisions and thousands of comments were received from residents. “I was impressed by the diversity of the people who brought up this issue,” Coxe said. He said one of the arguments Proposals
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consecutive business days