by Mike Sharkey
Staff Writer
The Southbank seems to be going through a true development renaissance. Between hotels and office towers changing names and residential skyscrapers exploding out of the ground, someone that hasn’t seen the area in a few years won’t recognize it.
With Downtown development high on his list of priorities, Mayor John Peyton and his staff are working to create a physical synergy between the Southbank and the Northbank — a synergy that includes all the elements from residential to retail to a walkable community. The linchpin to Southbank development, however, may be the School Board building, which sits squarely between three residential towers and the old JEA generating station, which has been pegged by developers as the next big mixed-use project on the Southbank.
As much as Peyton would like to expedite the School Board’s departure from its riverfront property, he is keenly aware there isn’t much he or any developer can do right now.
“I have no jurisdiction over that property,” said Peyton at Monday’s Rotary Club of Jacksonville meeting. “I have respect for their autonomy.”
It’s that autonomy — and a severe lack of funding for a new administrative building — that may keep the School Board on the river for a while. According to Peyton, the interest in the land exists, but it’s currently not valuable enough for the School Board to sell it.
“The value is going to continue to escalate faster than any other in the area,” said Peyton. “Developers have told me it will go up 10 percent a year. When that property value is high enough for them to build what they need, they will sell.”
The Property Appraiser’s Office has a recorded value of $10.7 million on the property. At a 10 percent appreciation, the land will be worth approximately $15.66 million in under five years. That kind of value, combined with the ability to take out bonds, could allow the School Board to sell the property to a private developer.
Peyton said his administration is working with Superintendent Joseph Wise to come up with a solution. Renovating an existing building is an option, but can be nearly as costly as building from the ground up. The other issue, according to Peyton, is the fact the School Board would rather put its capital into classroom resources than a new building.
“Ideally, I’d like to see them in a better building with better technology, more space and get them off the river,” said Peyton. “The challenge is, they would rather spend the money in the classroom and I respect that.”
Peyton also touched on a variety of other topics, most of which included Downtown development:
• The “stars are lining up” regarding Northbank development and he’s tired of hearing about what isn’t happening Downtown. “I want to dispel the notion that Downtown is a lot of vision and no action.”
• The library is a “phenomenal, phenomenal asset. It’s an amenity for those who live Downtown and a destination for those that don’t.”
• On protecting public spaces, especially riverfront land: “It’s something as mayor that I have to champion. I have no problem protecting the value of the land on the river.”
• On moving Kids Kampus to the Southbank and freeing up that land on the Northbank: “We need that land to remain public. That’s how we master planned that area, should we need it.” Peyton says he can see a day when that land is used to throw frisbees and kick soccer balls.
• “The team” that will orchestrate Downtown development consists of Jacksonville Economic Director Executive Director Ron Barton, Chief of Planning and Development Mike Saylor and Chief Operating Officer Alan Mosley.
• A budding Downtown with increased residential capacity makes sense these days. “Services are cheaper in the urban core because the infrastructure is already there.” He also said a growing residential Downtown community will take some of the stress off the suburbs, particularly where traffic is concerned.
He’s especially happy about the fact that several recent big developments are occurring (and will occur) without financial assistance from the City. “How wonderful to have investments without City incentives or City money,” said Peyton of projects like The Strand, The Peninsula and Orlando developer Cameron Kuhn’s projects. “The market is here and people are seizing those opportunities without incentives.”