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
Q4 2023
Financing Method
The project is pursuing HTCs, conventional leverage, and municipal funds to add to the OZ equity used to acquire the property
Financial Partners
Acquisition and Pre-development financing provided by Local Initiatives Support Communities (LISC Jacksonville) and The Reinvestment Fund (TRF)

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 is on track to close on financing and begin construction in Q2 2022.

other Work
Apartments
Quill
Apartments
Viña

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