Over objections of the property owners, the City’s Historic Preservation Commission on Wednesday denied an application to demolish the Bostwick Building at 101 E. Bay St.
The former bank, often referred to as the “jaguar building,” was the first structure restored following the Great Fire of 1901. The property has belonged to the Bostwick family since the mid-1800s, said Karl Bostwick, president of Guaranty Trust Investments Inc., the owner and applicant for the demolition permit.
He said the building was acquired in 1996 with the desire to see it restored and the Bostwick family supports salvaging the building, but the economics of the project — evaluated by 50 engineers and contractors over the past 16 years — don’t support investment.
“They all came to the same conclusion. The cost associated with renovating this building is not economically feasible,” said Bostwick.
The City has been levying a fine of $100 per day for the past three months for failure to maintain the building to the standards of the building code.
“The family does not have the financial resources to bring the building up to code,” said Val Bostwick.
Several people, including landscape architect and urban designer Chris Flagg, testified to the commission that the building is too important from a historical standpoint to be demolished. Flagg is incoming chair of Downtown Vision Inc.’s board of directors.
“We don’t need another vacant corner lot Downtown,” he said.
Flagg said he hoped the City can begin to “change the paradigm” of allowing historic buildings to be demolished and wishing later that options for preservation had been explored.
“I hear a lot about bringing Jacksonville to the next level. I don’t want to see the next level to be a step backwards. We need to ensure the preservation attitude stays intact,” Flagg said.
Oliver Barakat, DVI board member and senior vice president of CBRE, also testified in favor of denying the demolition permit.
Barakat, also an appointee to the City Office of Economic Development’s Downtown Investment Authority, said he was not representing the DIA, but was personally compelled to speak in favor of saving the Bostwick Building.
“I’ve watched historic buildings crumble Downtown, but this is the first time I’ve come to speak on preserving a building,” he said.
Barakat said that as a commercial real estate broker, it is his opinion that a 7,000-square-foot building on a prime corner location is “very rare” Downtown.
“I believe a business, a bank or a law firm would pay good money to lease that building,” he said.
Paul Crawford, interim executive director of the City economic development office, also testified in favor of denying the demolition permit application.
He said the administration wanted the permit application deferred so that the City could begin the process of designating the building a local historic landmark, with or without the owner’s cooperation.
After hearing testimony for more than an hour in favor of preserving the building, the commissioners voted to deny the demolition application and voted also to declare the property a “potential landmark.”
City Assistant General Counsel Jason Teal said the decision by the commission to seek local landmark status for the building immediately set into motion a process.
He said at the commission’s next monthly meeting, staff could advise the commission whether the local designation application is complete.
Teal advised the commission that there must be a public hearing on the landmark application within 90 days of Wednesday’s action.
Following the public hearing and assuming the commission finds that the building meets the criteria for landmark designation, the proposal would then be sent to City Council for its approval.
“That’s what would happen in the next several months,” said Teal.
Bostwick said he thought the decision was unfair.
“I want the permit to be issued. I want what the Constitution allows – my property rights,” he said.
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