As Deutsche Bank’s deal to create 260 jobs in return for incentives moves through City Council, the City is reviewing renovation plans for the financial services company to expand in Southside.
Those plans call for interior renovations of 29,565 square feet of office space in Building 500 at 5022 Gate Parkway, where Deutsche Bank operates among several buildings.
Deutsche Bank employs about 1,000 people at the campus already, according to a July 26 Council Research Division legislative summary.
The Council summary shows that Deutsche Bank occupies 125,000 square feet of space at the Meridian Office Park, where it intends to expand.
Deutsche Bank Jacksonville Managing Director Mike Fleming arrived at City Hall on Tuesday afternoon with JAX Chamber Executive Vice President Jerry Mallot, who also is president of the JAXUSA Partnership, and JAXUSA Vice President of Business Development Cathy Chambers.
Fleming declined to comment about the deal.
Mallot said Council is expected to vote on the legislation Tuesday.
The plan-review application shows renovations of office space and minor exterior improvements for the building.
Turner Construction Co. is listed as the contractor. The construction project cost is shown as almost $3 million.
The building permit application lists the property owner as Taurus Southern Investments LLC of Winter Park.
The architect is shown as ASD Inc. and the structural engineer is listed as Atlantic Engineering Services, both of Jacksonville.
Daily Record archives show that Deutsche Bank celebrated the grand opening of its financial services campus on July 23, 2008.
Deutsche Bank announced Sept. 1, 2010, that Fleming, a retired brigadier general, joined the firm as managing director and director of the Global Business Services Center in Jacksonville.
The company said Fleming was responsible for providing strategic leadership and leading the development, communications and implementation of growth strategies, policies and financial objectives.
It said Fleming, with more than 30 years of service in the armed forces, had most recently served as CEO of the Florida Army National Guard with responsibility for more than 10,000 soldiers.
The Council Finance and Recreation and Community Development committees voted Tuesday to support the legislation for the economic development agreement.
According to the July legislative summary, the agreement is between the City and DB Services New Jersey Inc., DB Services Americas Inc. and Deutsche Bank Securities Inc., which are American subsidiaries of Deutsche Bank of Germany.
The bill involves a $145,000 grant, based on new ad valorem taxes on leasehold improvements and tangible personal property from the expansion.
It also commits to $260,000 from the City for its part of a Qualified Target Industry Tax Refund. The City pays 20 percent and the state pays the remaining 80 percent, or $1.04 million.
Deutsche Bank also would make a $10 million capital investment to accommodate the new jobs in technology, front-office and finance functions, according to a news release.
Deutsche Bank intends to create the jobs over three years, starting with 50 and then adding 75 the second year and 135 the third year. The jobs would need to be created by Dec. 31, 2016.
The Daily Record reported in July that Deutsche Bank also is negotiating with the state for a $364,000 state workforce development grant and $140,000 from the state Quick Action Closing Fund.
The total City and state incentives package totals $1.95 million.
Mallot said in July that Jacksonville is in competition with North Carolina and New York for the expansion and jobs and that City approval of the incentives by the end of August would be ideal.
In 2008, Deutsche Bank chose Jacksonville for its 1,000-employee operation.
In June 2008, Council approved more than $880,000 in incentives for the bank to choose Jacksonville for the center.
Dollar stores update
The City approved construction for Dollar General at 7700 Merrill Road. The 9,100-square-foot store will be built by The Hatch Group LLC at a construction cost of $400,000. … Family Dollar’s plans for Monument Road and East State Street are moving along. Developer Twin Rivers Capital LLC of Charleston, S.C., filed plans for an 8,320-square-foot Family Dollar on an acre at Monument and St. Johns Bluff road. The address is 1556 Monument Roads. Meanwhile, Market Street Retail LLC of Charleston, which is affiliated with Twin Rivers, is working on its plans for a 9,100-square-foot Family Dollar on 1.6 acres at 233 E. State St. Property owner Ellis Warren intends to move Warren Motors to Brentwood once the property sale is completed.
North Jacksonville apartments
Plans for Duval Station Landing are in review. The seven-building, 88-unit apartment project is shown on almost 6 acres along Duval Station Road at Majestic Court. F&G Construction General Contractors Inc. is shown as the contractor and the property owner is First Coast Land Development Inc.
JCPenney remodels
JCPenney Co. Inc. continues to remodel stores-within-a-store. The company intends to remodel its department store at The Avenues mall at 10308 Southside Blvd. with the concept.
The retailer is remodeling areas within its department stores to focus on brands such as Liz Claiborne, Arizona, Levis, Izod and the JCP Shop.
The Avenues project is shown as an $80,000 job.
REI making tracks
The REI store at The Markets at Town Center at St. Johns Town Center is planning for an $850,000 interior build-out. The project, at 4862 Big Island Drive, will renovate 23,759 square feet of space for retail, storage, business, bike-assembly and other uses.
Seattle-based REI, which stands for Recreational Equipment Inc., announced in March it would open the Jacksonville store in spring 2013.
River Reach considering 7 more phases
Property owner CCS Old San Jose LLC filed plans indicating it might add eight triplex buildings at the River Reach development along San Jose Boulevard. The project, formerly called Old San Jose, could add 24 units, according to the plans. Dominion Engineering Group is the agent for the 14-acre project.
Avondale Mellow Mushroom discussion continues
Supporters and opponents of a Mellow Mushroom in Avondale continue to debate the issue, specifically parking concerns in the neighborhood shopping district.
The City Council Land Use and Zoning Committee deferred a motion Tuesday by developers to withdraw legislation to rezone the properties – 3601 and 3611 St. Johns Ave. – as a Planned Unit Development.
The issue was deferred and will be continued at the Sept. 5 meeting.
About 30 “We Love Avondale” supporters attended the Tuesday meeting, with many saying they were concerned that withdrawing the legislation would remove their opportunities to be heard by Council on the issue.
“It is a pleasure to hear our residents come up and speak,” said Holland & Knight attorney George Gabel, who joined the Avondale group.
“Our concern here today is that the residents’ rights will be protected.”
Developers also filed for a certificate of appropriateness zoning exceptions and an administrative deviation on the property, which provide for public comment.
Council member Jim Love, who represents the district, is not on the committee but attended.
Lawyer Steven Diebenow, who represents the development, said he looked forward to continuing to meet with Avondale residents and business owners.
“As we have done since the outset of this project in March, we look forward to continuing our dialogue with Councilman Love, Riverside Avondale Preservation, the merchants, the other restaurant owners and the neighbors that live around The Shoppes of Avondale,” he said after the meeting.
“In response to community concerns, Mellow Mushroom has made more commitments to address parking and traffic circulation than any other business in The Shoppes of Avondale during the past 20 years,” he said.
A public hearing on the zoning exceptions is expected at a Planning Commission meeting at 1 p.m. Aug. 30 in the first floor training room at the Ed Ball Building Downtown.
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