by Mike Sharkey
Staff Writer
The more things change the more it looks like they’ll remain the same at the corner of Laura and Forsyth streets. Three developers submitted proposals Wednesday to renovate the Bisbee, Florida Life and Old National Bank buildings that have been vacant for years. Earlier this year, the City obtained control of the buildings and sought redevelopment proposals.
All three multi-million dollar proposals call for externally subtle, yet complete interior overhauls of all three buildings.
At a bid opening in City Hall, Klutho Partners, LLC (a subsidiary of LB Jax LLC), Signet Development and Steinemann Management Company submitted redevelopment proposals, which included everything from commercial office space to residential to retail.
Lisa King, vice president of Klutho Partners, said her firm may have an advantage in that they are already doing a historical renovation right around the corner — the conversion of the Knight Building on West Adams Street into 12 loft apartments. The Klutho plan calls for not only a renovation of the three existing buildings, but also the construction of two others, both of which will retain the same architectural character as the three early 20th Century buildings.
“We would do it phase by phase with the new construction opening first,” said King, adding the $57 million proposal could take about two years to complete and that doesn’t include the permitting and design phase. “It may take longer because of the intricacies of the financing and the layers of bureaucracy we’ll have to go through.”
Because all three buildings have attained historical designations, none of the developers will be able to make any radical changes to the exterior facade. In fact, all of them plan to incorporate an early 20th Century theme into the entire project, including new buildings.
The Signet proposal also includes the site of the Center Theater, which was demolished last week.
“Two of our three plans include the Center Theater,” said Michael Munz, a spokesperson for Signet. “If you combine that with the three buildings, the economy of the project works much better for the City. That’s part of our commitment to the project.”
Munz declined to disclose the cost of the Signet proposal but said there was a reason Signet submitted three design concepts.
“We wanted to give the City options,” he said. “We put a lot of creative thought into maintaining the historical integrity of the buildings and present sound economic options.”
The Steinemann plan, like the others, is also a mixed-use development. Buddy Young, a development partner for Steinemann, which will partner with Elkins Constructors, said a main objective of his design is to assure that Henry Klutho — the architect of the Bisbee and Florida Life buildings — isn’t forgotten.
“We want to keep the buildings where they are and promote the Henry Klutho theme and their historical importance to the city,” said Young, adding the Steinemann plan also calls for a multi-level parking garage in the space formerly occupied by the Center Theater.
Unlike the other two proposals, Young said his group will acquire the vacant lot at the corner of Laura and Adams streets, but have no immediate plans for development.
“We are planning on having it, but will turn it into a park for now,” said Young, also declining to disclose how much the Steinemann proposal will cost.
King and Munz said their projects would take 18 months to two years to complete while Young believes their project will take 14-18 months.