If you what more interest, there are other proven methods of generating that interest that provides you with options to not wait for the sugar daddy (TriLegacy, LandMar, Khan) to figure out what to do with all +40 acres. However, putting the wheels in motion begins with the public sector. That process has never taken place, so it's not hard to understand the overall lack of interest.
I agree completely. Maybe I heard what I wanted to hear from him, but I interpreted Khan's initial comments as a way to get those wheels in motion, to generate interest that might push the city to move. The problem was - as usual - nothing happened.
As it stands now, the entire property needs to be cleaned up. I don't see the city making that kind of investment without knowing what will happen to the property. That seems like it would rule out carving it up and developing it piece by piece.
That leaves the property to be developed by someone needed to take the lead on the whole thing. It's not ideal, but it feels like all we have available to us. If it can happen - and so far Khan seems to be a mad of his word - I don't want to squander that opportunity.
When I look at the Khan proposal, he's basically doing what the city should have over the last decade. He's not spending his cash developing the property. He's parceling it out and marketing it for others to come in and invest in projects of their own. For example, if he wants a shopping center, he's not developing it. An entity like Sleiman would. If it works, he makes money and increases the value of this existing investment in Jax. If it doesn't, then the city has assumed all the risks anyway. Thus, don't get too upset if the "placeholder" renderings of things like that hotel and filled in areas of the river.....never materialize.
My thoughts exactly. I have been asked a handful of times when speaking at various civic organizations about what the city should do with the Shipyards. I would say that the city needs to come up with a master plan, pay for the public amenities and then start parceling off the site to individual developers based on the goals of your site plan. That was always met with a 'no way this site gets broken up'.
Well, looks like Khan's plan is exactly the same idea... yet, instead of the public taking most of the risk and reaping most of the proceeds... the public takes most of the risk and doesn't get enough proceeds to cover the costs (which has already happened on that site several times).
Khan's conceptual plans are nice in the abstract. The attention to public river access, linking with the Hogans Creek Greenway, ensuring a walkable environment along Bay Street, etc are all very sound principles. If those things happen, this site will be a big plus for downtown and the city at large.
The end result (both physically and fiscally) 10 years from now will look a lot different then what the overwhelming majority of people that understand the project only from the 2 minute news spot they saw on tv believe it will be.
Btw, what's this all about?
Not saying the yacht guy's proposal is all that serious, but the comments aren't surprising given the short 30 day window and without being provided much info about the remediation required on the site nor the opportunity to do much in the way of due dilligence. Someone that has been working with City officials for at least a couple of years, would obviously have a much better understanding of the site's condition... then say some investment group from Dallas that perhaps did a quick site visit and has no access to any environmental site assessments done on the property previously.
It's no secret that Khan's attorneys have been bouncing things off COJ officials now for years. Khan may just provide a great product (I really hope he does. I love this city and want the best for it). I'm just trying to bring a more educated and nuanced view of what really goes on. Instead of making an honest effort to really establish the market on the property and get public input, COJ instead chose to tailor a process towards a favored party behind closed doors and are willing to take on financial risks that they don't really know whether or not is a good deal (and as proposed, will lose money on). Was that the best course of action? Time will tell. Over time, history doesn't produce an overall winning record on that strategy (more strikeouts then runs scored, however runs do get scored).
Sometimes, its perfectly prudent to take a step back to evaluate your parachute before jumping out of the plane.
