by Bailey White
Staff Writer
The team at Venture Resources, an urban development firm, is expanding and so is its interest in downtown and Springfield properties.
Paul Shockey, the president of the company, recently hired Tony Allegretti, formerly the marketing director at San Marco’s Theatre Jacksonville, as a full-time employee, and the two are turning their eyes toward areas for future development.
Shockey came to Jacksonville in 1998 from Dallas and was stunned by the amount of property and opportunity that he saw in Springfield.
He purchased the old Corrine Scott Elementary School on the corner of 10th and Market streets, gutted it and turned it into loft-style apartments that are zoned for live/work use.
“I couldn’t believe the opportunity in Springfield,” said Shockey, who has done similar projects in Dallas.
The 15 lofts have 100 percent occupancy despite the fact that many people couldn’t believe he’d consider developing in East Springfield.
“It was a zip code thing. People saw that we were east of Main Street and immediately said no,” said Shockey of the trouble he had finding initial funding. They eventually secured it from CenterBank.
Shockey says the success of the lofts has a lot to do with Allegretti’s marketing strategy.
“We don’t spend one minute talking to people who are married to the perception that Springfield can’t change,” said Allegretti. “We’re not trying to change their minds. Our time is better spent trying to find other people.”
Their interest in Springfield doesn’t only involve housing. Their next project is the East Side Gallery and Design Center, where they’ve gutted an old grocery store at 10th and Liberty streets.
“It’s right across from the Boys and Girls Club,” said Allegretti. “We’re definitely planning on doing outreach work.”
The project should be complete next summer.
Shockey and Allegretti also spearhead the Arts & Bills project, which gives local artists a chance to hang their artwork and price it according to bills they have to pay. The most recent show was held at the gallery at the corner of Ninth and Main streets last weekend.
“It not only benefits the artists, but it puts the word out about Springfield,” said Shockey.
Allegretti is the executive director of Springfield Arts and Living, Inc., a non-profit organization whose vision is the enhancement of the community. Allegretti edits the SAL magazine which focuses on events and people in the community.
“We’re trying to grow and nurture the demographic,” said Allegretti.
“We’re interested in two things,” added Shockey. “There’s the developing and consulting side and then there’s the non-profit side, which is gaining momentum. It’s a happy balance because it’s all the same idea.”
Now, Shockey and Allegretti are looking towards downtown for the same kinds of mixed-use buildings.
“In Springfield you can convert use without any hassles. Downtown is a little more complicated, but not compared to other cities,” said Shockey.
Allegretti believes the marketing techniques for downtown properties will be similar to the ones that work for Springfield.
“It’s the same demographic,” he said. “The same people who live in Springfield are not unlike those who will downtown.”
Next up is a little more work on the 1951 lofts, including renovating a home that is on the property and they will continue to focus on Springfield.
“We’re committed to promoting the area,” said Shockey.