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Advocates, developer use Union Terminal to push statewide historic tax credit bills

By Mike Mendenhall  | 12:09 p.m. February 28, 2023

Speaking to Florida lawmakers from the loading dock of the Union Terminal Warehouse on Jacksonville’s Eastside, Columbia Ventures LLC Development Manager Ryan Akin said the building’s $72 million mixed-use renovation will be a win for the neighborhood and local historic preservation. 

“All right, I’m going to take you back in time a little bit,” Akin said. 

The Atlanta-based developer coordinated the Feb. 27 tour with the Florida Trust for Historic Preservation, a statewide nonprofit that works to preserve Florida historical sites. 

The groups hoped the Union Terminal project would be a showpiece as the Florida Legislature considers bills in the 2023 session that would create a state-level historic tax credit program to provide more financial incentives for preservation, restoration and adaptive reuse projects. 

Columbia Ventures purchased the 110-year-old historic warehouse at 700 E. Union St. through an affiliate in December 2018 and started work in 2022 to preserve and convert it into mixed-income residential and commercial space.

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Source: Jax Daily Record

Union Terminal Warehouse in Jacksonville gets massive makeover

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Source: Action News JAX

Historic Union Terminal Warehouse to transform into apartments, restaurants and more

JACKSONVILLE, Fla. — A project on Jacksonville’s Eastside is underway that will transform a warehouse with more than a century of history.

The Union Terminal Warehouse was built in 1913.

Columbia Ventures acquired the property in December 2018 and plans its adaptive reuse as a vibrant multi-family anchored mixed-use community.

Financing methods include utilizing historic tax credits and opportunity zone equity as key components of the capital stack.

The project site is at 700 East Union Street, and the work plans to help revitalize Jacksonville’s Eastside.

The site has been designed by Dasher Hurst Architects who says there will be market-rate apartments, restaurants, indoor parking, a rooftop terrace with great views of downtown and other retail spaces.

“It’s a nice area, quiet and everything — so I think it’d be good,” said Little John Cox who lives on the Eastside.

According to Columbia Ventures, when completed in 1913 — owner C.B. Gay declared it to be “the largest and finest warehouse in the state of Florida.”

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Source: Action News JAX

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