Khan's Jacksonville Shipyards Plans Revealed

[downtownbrown]

Vinik was on Squawk Box this week talking about his development plans.  What an outstanding ambassador for Tampa this guy is. Made Tampa sound like Paradise on a national TV show that attracts people with money.  Imagine that sort of exposure for Jacksonville.  The impact could be enormous.  That's pretty much why I don't sweat the split details.  This has the potential to be a huge multiplier for the city.  If it doesn't happen, we'll be left with the only other option to get us out of the hole. Taxes. And more Taxes.

[Anti redneck]

Well, all of this looks really f!@#ing amazing. Just one question, is this really going to go through? City council is notorious for shooting down plans like this.

[Anti redneck]

3) Where's the skyway connectivity? Still "under study?"

Does Khan even have any say-so over the skyway?

[tufsu1]

the reality is the Skyway, as currently configured, could not adequately serve the stadium area.  JTA is engaged in a study to determine the long-term configuration and operation of the Skyway, and info. should be available by spring.  The study is necessary as much of the Skyway technology is 25+ years old and maintenance costs have been growing.

[Jax native]

^ Perfect response MM, and incredibly true.

Ennis, on the Landing, to me we're talking apples and oranges here. The Landing as it exists isn't perfect, but it has its use as a semi-iconic civic gathering space. Sleiman requested $12.8 million to basically neuter the space and turn it into a suburban apartment complex. Retail was limited, the courtyard that has become one of the primary gathering spots in the city was removed, and the thin strip of public space was separated from the "Landing" by a road. I don't get the impression that the public outcry was over the specific dollar contribution, but rather to the terrible design presented by Sleiman, coupled with his "taking my ball and going home" attitude when the city council suggested that public input was needed. If Sleiman's proposal would have been stronger and presented a new Landing that truly benefit the city, I think we would have seen a more favorable reaction.


Conversely, I think many, many, many (three manys!) people see Khan's proposed Shipyards development as a genuine way to increase quality of life in Jacksonville and kickstart a broader redevelopment of downtown at large. I think the average informed Jacksonville citizen realizes that no developer is going to clean up our mess for us, and that even if we have to open up the checkbook for remediation, riverwalk extension, and mooring of the USS Adams, these are all necessary improvements we'll eventually be on the hook for anyway.

Others might disagree, with I'm fine with the Shipyards being a short-term loss leader for a broader revitalization of downtown Jacksonville. We've already seen two major land purchases in the area partially credited to Khan's vision for the area (the Ford Plant, and the Drew Mansion in Springfield). Strategically, working with Khan ties the Jaguars to downtown Jacksonville, and puts the project in the hands of someone who has the drive, motivation, and capital to deliver as promised. And allocating the incremental tax revenue specifically for the Shipyards is fine in my book as well. Compare our sports complex -- which also receives specially allocated tax revenue for upkeep and remains one of the crown jewels of our city -- with the rest of our crumbling infrastructure.

I think the city can probably negotiate a better than 80-20 split, but other than that, I really don't see anything terribly unreasonable with the Jaguars' terms, particularly when you consider the opportunity cost of either a) doing nothing with the site, or b) bringing in another developer who may not have the same incentive or capital to see the project to conclusion.

People might hate him, but Paul Harden is a pretty smart guy. He's well aware of what the city can and cannot reasonably afford, and surely the Jaguars are familiar with how quickly capital improvement projects can die in Jacksonville if the developer asks for too much.

Terms can be negotiated, but in my opinion, the project is a no brainer.

The city will never develop the Shipyards on its own, and if they did, it would cost five times as much, take twice as long, and fall apart within a decade. It's the Jacksonville way.

No one has showed any genuine, credible interest in developing the site in a decade.

Now, you've got a multi-billionaire with international ties who is committed to Jacksonville, has an intimate understanding of the market, and who is shaking with excitement over developing the property. He's got a great vision that makes downtown a destination, solidifies one of our biggest assets (the Jaguars) in Jacksonville once their lease runs out, and serves to give Jacksonville something it has struggled for decades to gain -- a recognizable identity.

It's the right project in the right spot with the right developer at the right time.

Opportunities like this come around but once or twice in a lifetime in a city like Jacksonville.

Just to clarify ken's comments, Paul Harden is not the smartest lawyer around but the person who possesses the  strings of city council and votes.  I'm not sure but maybe he knows "where the bodies are'?  Khan only needs him to lobby City Council.  He's not on Team "Khan" for any other reason.  He lobbied City Council for Scoreboards and other needs for Khan, for Wayne weaver, for developers, and etc.  For whatever reason, City Council has tolerated the pull & strength he seems to yield over them.  I'm hoping a new City Council will refuse dirty tricks, money, bribes, back door deals from Paul Harden. 

[ProjectMaximus]

The study is necessary as much of the Skyway technology is 25+ years old and maintenance costs have been growing.

Out of curiosity, what have Miami and Detroit done. As in, did they upgrade the technology or is it still aging with costs increasing?

[mtraininjax]

At the end of the day, it would be nice to have the city clean the land, run and RFP, and then Khan comes and pitches, amongst other groups.

Perfect! And I also agree with you on the land lease. Should structure this and all future projects just as they did with the Landing.

[thelakelander]

The study is necessary as much of the Skyway technology is 25+ years old and maintenance costs have been growing.

Out of curiosity, what have Miami and Detroit done. As in, did they upgrade the technology or is it still aging with costs increasing?

Jax switched from Matra rubber-wheeled technology to Bombardier's monorail in 1997. Miami's Metromover originally used cars built by Westinghouse in 1984. The fleet was replaced in 2008 by rubber wheeled vehicles manufactured by Bombardier. Detroit's Peoplemover used the same technology as Vancouver's SkyTrain when it opened in 1987. It now uses Bombardier cars running in pairs. In short, the other systems have been upgraded. The time is coming when we'll have to decide to upgrade or replace much of the Skyway system.

[KenFSU]

Business might have just picked up.

Looks like there is a competing developer planning to bid on Shipyards site.

$1.4 billion investment, and the developer claims he would not only buy the land, but pay for the cleanup.

"Jacksonville Mega Yacht Club" is his plan.

A combination of public space, market, and mega yacht repair facility.

Courtesy Stephanie Brown, WOKV, who's live tweeting the DIA meeting.

[Non-RedNeck Westsider]

Business might have just picked up.

Looks like there is a competing developer planning to bid on Shipyards site.

$1.4 billion investment, and the developer claims he would not only buy the land, but pay for the cleanup.

"Jacksonville Mega Yacht Club" is his plan.

A combination of public space, market, and mega yacht repair facility.

Courtesy Stephanie Brown, WOKV, who's live tweeting the DIA meeting.

[JBTripper]

This mega-yacht repair shop bid has got to be fake, right? This dude says he will pay for the land, pay for the environmental cleanup, AND BUY A DOWNTOWN BUILDING to relocate his company's corporate headquarters to Downtown Jacksonville? If that is his plan, where was he prior to Khan's proposal? And how does it make sense to move your mega-yacht shop to Jacksonville, where there is exactly one owner of one "mega-yacht" who stays here part time, from South Florida, where there are many more mega-yachts in-and-out of there year-round?

This is a joke, right?

[downtownbrown]

Business might have just picked up.

Looks like there is a competing developer planning to bid on Shipyards site.

$1.4 billion investment, and the developer claims he would not only buy the land, but pay for the cleanup.

"Jacksonville Mega Yacht Club" is his plan.

A combination of public space, market, and mega yacht repair facility.

Courtesy Stephanie Brown, WOKV, who's live tweeting the DIA meeting.

How's this for a rumor.  Search on Felix Sabates and Trinity Yachts.  Trinity is based in New Orleans, Felix in Charlotte.  Commong denominiator? NASCAR! and Daytona is just down the road.  Felix has the juice.  I love it.

[thelakelander]

Interesting.... Get paid for the land "as is" and get a smaller shipyard with some public space and a market thrown in. Or give away the land for free, pay for the clean up and let Khan be the master developer of something that will include a training facility for the Jags? So what will it be?

[downtownbrown]

http://www.yachtingmagazine.com/nascar-yacht-club 

No brainer??

[downtownbrown]

The heart of NASCAR country, North Carolina is home to many of the owners and drivers, including Felix Sabates. Sabates is a multi-team co-owner along with Chip Ganassi. He's also an avid yachtsman and one of the owners of custom yacht builder Trinity Yachts in New Orleans. First came the laugh, then the amiable Sabates filled in a few of the key details, the most important being confirmation of the club's shadowy existence.