Union Terminal Warehouse

Jacksonville, FL

Role: Developer and Equity Partner

Historic warehouse in downtown Jacksonsville to be transformed into vibrant, mixed used, urban environment.

700 E Union St,
Jacksonville, FL 32206

Project type
Historic adaptive reuse, mixed use, workforce housing, brownfields
TDC
$ 0 Million
Program
228 Apartments, 50k sf of Small Office, F&B, and Maker Space
Placed in Service
Q2 2024
Financing Method
Historic Tax Credit Equity, Conventional Leverage, Municipal Funds, Opportunity Zone Equity
Financial Partners
Acquisition/Predevelopment: LISC, The Reinvestment Fund Development: Stonehenge (HTC Equity), City of Jacksonville, DPRP Second Mortgage, Bank United, RADCO Ventures (OZ Equity)

Union Terminal looks to spark development on the east side of downtown Jacksonville, FL.

When completed in 1913, owner C.B. Gay declared it to be “the largest and finest warehouse in the state of Florida.” Built by Turner Construction (NYC) of cast-in-place reinforced concrete, the 330,000 square foot building is now home to a number of makers in East Jacksonville. The property is sandwiched between Downtown and the Stadium District, which includes TIAA Bank Field, the Baseball Grounds, Jacksonville Veterans Memorial Arena, Daily’s Place, and the Jacksonville Fairgrounds.

Columbia Ventures acquired the property in December 2018, and plans its adaptive reuse as a vibrant multi-family anchored mixed-use community, utilizing historic tax credits and opportunity zone equity as key components of the capital stack.

The redeveloped Union Terminal Warehouse will be a foreshadowing of Downtown Jacksonville’s future as a vibrant, mixed use, urban environment. It will be an ode to the industrial transit-oriented roots that sprang up along the North Bank in the wake of the Great Jacksonville Fire of 1901. It will be a tendon that connects the financial muscle of the Urban Core with the youthful athleticism of the Stadium District. It will be a steady workforce housing carriage attached to an entrepreneurial and cultural economic engine. It will be a unique and authentic node along the Emerald Trail and Hogan’s Creek. It will be a place that locals are proud to name amongst their City’s growing catalog of features.

It is an opportunity to light a development spark on the East side of Downtown Jacksonville.

The project closed financing August of 2022 and is currently in construction.

other Work
Apartments + Retail
Quill
Apartments + Commercial + Retail
Viña