After being acquired by Columbia Ventures in December 2018, with plans to utilize historic tax credits and opportunity zone equity as key components of the capital stack, the restoration of the Eastside’s 109-year-old Union Terminal Warehouse is now moving forward.

Covering 330,000 square feet of space, the Union Terminal Warehouse Company was said to be the largest warehouse in Florida when it was completed in 1913 by the Turner Construction Company. Now Columbia Ventures is poised to renovate the Eastside landmark at 700 East Union Street into a mixed-use development featuring 220 workforce and market-rate apartments and 38,000 square feet of commercial, retail and dining space. In addition, the project will include an 80 space indoor parking area and a rooftop amenitized with a rooftop terrace.

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Source: The Jaxson

The Jacksonville City Council authorized $8.29 million in public financing for an Atlanta-based developer’s plan to renovate and adapt the historic Union Terminal Warehouse into mixed-income housing and retail.

Columbia Ventures told city officials they expect to take two years to finish work on the 109-year-old building at 700 E. Union St. near the Springfield, Downtown and Eastside neighborhoods.

Plans for the $57.1 million project include a minimum of 220 workforce and market-rate apartments and 38,000 square feet of commercial and retail space. 

The company pitched some of the retail spaces to the Downtown Investment Authority in May 2021 as studios and “maker’s spaces” to attract artists.

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Source: Jax Daily Record

Jacksonville City Council backs gas tax increase on 13-6 vote but final tally could change

Jacksonville City Council leaned in favor Wednesday of approving a gas tax increase when the first round of votes showed 13-6 support for the measure that will get a final up-or-down verdict next week. If the 13-6 margin holds up when the council convenes in another special meeting on May 26, it would be above the requirement that at least 11 of 19 council members back the legislation for the tax increase to happen.

But three council members — Michael Boylan, Randy DeFoor and Terrance Freeman —prefaced their “yes” votes by saying they continue to evaluate the legislation and get feedback from constituents.

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Source: Jacksonville Daily Record