The $30 million, mixed-use renovation of the 1950s-era office high-rise will feature apartments and a grocery story in Downtown’s North Core.
City Council is the next stop for Augustine Development Group affiliate PEP10 LLC’s $3 million historic grant request for its proposed restoration of the former Independent Life Building Downtown.
Council President Tommy Hazouri is scheduled to introduce Ordinance 2020-0707 on Nov. 24 at the request of the Downtown Investment Authority. It would authorize a city Historic Preservation Trust Fund appropriation.
The proposed $30 million renovation includes a 21,000-square-foot grocery store, 140 market-rate apartments, a parking garage and a 10,000-square-foot top-floor restaurant and executive sky lounge.
The restaurant and grocery store will be leased to a private operator.
Augustine Development President Bryan Greiner and investment partner DLP Capital LLC bought the 19-story office building at 233 W. Duval St. on Sept. 30 through PEP10 LLC for $3.7 million.
Dasher Hurst Architects is the architect of the reuse project.
The DIA board voted unanimously June 17 to recommend that Council approve the grant.
The former Independent Life and Accident Insurance Co. home office building, developed in 1955, is designated historic.
City-owned utility JEA used it as its headquarters from 1976 through the mid-1990s. It has since been vacant.