VyStar Credit Union executive leadership is targeting August to return to in-person work at its Downtown corporate campus as the organization eases coronavirus restrictions.
CEO Brian Wolfburg said March 8 that up to 1,200 of the credit union’s nearly 2,200 employees could be working at VyStar’s Downtown offices if Northeast Florida’s vaccination pace continues and COVID-19 cases continue to drop.
VyStar’s workforce and services have continued to grow since the pandemic began in March 2020 and Wolfburg said commercial office expansion will not be far behind.
“We are absolutely looking at everything that’s going on around us,” Wolfburg said. “We are interested in the conversation around the (former Jacksonville) Landing. We are interested in other development that’s occurring in the city.”
The Downtown Investment Authority plans a 4.5-acre riverfront park and private development at the former Landing site, now Riverfront Plaza.
Wolfburg said nothing has been decided, but VyStar’s near-term real estate expansion will grow its service area in Florida and Georgia but focus on Downtown Jacksonville.
VyStar is looking at space now, both new construction and renovation of available space.
Wolfburg said VyStar was able to streamline member services operations, employee on-boarding and project management while working remotely the past year.
For example, VyStar implemented a $26 million loan and grant program with the city in April using CARES Act dollars for small businesses facing declining revenue caused by the pandemic.
‘Big believer’ in a face-to-face work
Wolfburg says he’s “a big believer” in a face-to-face work environment and thinks the commercial office market will stabilize.
“That helps you build the brand. It helps you build culture, especially for newer employees or newer projects,” he said.
VyStar’s Downtown staff reached 1,100 in the days before the credit union closed offices and canceled travel and in-person meetings, according to Wolfburg.
That is more than the 1,000 employees VyStar executives estimated would move Downtown when it bought and renamed the 23-story SunTrust Tower at 76 S. Laura St. in July 2018 and later the seven-story building next door at 100 W. Bay St.
As an organization, Wolfburg said VyStar will grow to nearly 2,800 employees by the end of 2021.
“I believe that for truly great organizations you’re going to require physical presence where your employee base comes together, works together to solve bigger issues. Not tactical things of completing this work project, but strategic things about driving an organization and changing,” he said.
Post-pandemic, VyStar is considering allowing 20% of its Downtown employees to operate from home for a set amount of time per year for work-life balance, travel and family, Wolfburg said.
“But even with those individuals taking advantage of that, the number of employees that we have Downtown will absolutely continue to grow,” he said.
A voluntary return to the office could be sooner. VyStar may allow staff who are comfortable to begin working Downtown as soon as June, Wolfburg said.
A majority of VyStar’s board of directors and senior management team have received coronavirus vaccines but still are meeting virtually, he said.
The Bread & Board, active alley
Even with its workers at home, VyStar continued to make progress on its corporate campus amenities and public projects that tie into its broader Downtown strategy.
As of March 8, Wolfburg said the alleyway between 76 S. Laura St. and 100 W. Bay St. could be completed in four to six weeks to offer a performance venue, outdoor food options, games and pop-up retail space.
Construction on a skywalk connecting the two buildings also was finished this year.
The Bread & Board is close to opening two restaurants at VyStar’s Downtown campus.
The Bread & Board co-owners Dwayne Beliakoff and Jonathan Cobbs said March 10 that the Baja California-inspired Estrella Cocina will open May 1 on the rooftop at 100 W. Bay St.
At street level, The Bread & Board Restaurant and Provisions Market likely will open about a month later, Wolfburg said.
Wolfburg said he didn’t want the Jacksonville-based restaurateurs and their contractors to feel “an extreme rush” to open by a certain date.
Parking garage plans
Wolfburg said VyStar will break ground in the next six to 12 weeks on a seven-story, 798-space parking garage at 28 W. Forsyth St.
VyStar increased the ground-floor retail space in the garage design to 19,516 square feet after it took over the project in September 2019 from Laura Street Trio developer SouthEast Development Group LLC.
Five to six tenants are interested in the garage retail space fronting Laura and Main streets, Wolfburg said.
Coffee vendors, breweries and a dog day care have contacted VyStar but no contracts have been signed, he said.
“We’ve got a year-plus on that build-out. So once we get the shovel in the ground, I think we’ll turn our internal facilities team to that,” Wolfburg said.
Wolfburg said VyStar and Downtown Investment Authority CEO Lori Boyer looked at contemporary parking garage designs in Tampa, Miami and Orlando for inspiration.
“We didn’t want to just build another garage and nothing against any of the garages that are Downtown, but we know that it’s our members who live and work and play here. We want the Downtown community to be very strong and very vibrant,” he said.
VyStar’s investment in the garage design led to the focus on retail space and architecture that incorporates fabric screening also used by Daily’s Place Amphitheater connected to TIAA Bank Field, Wolfburg said.
Wolfburg said VyStar’s Downtown investment the past three years are part of the credit union’s commitment to the revitalization of the city, where the institution was founded.
“We believe we’re building a Downtown campus that is helping to play a part in reviving Jacksonville,” he said from his office, with a view of the Downtown riverfront.
Fidelity National Information Services Inc.’s headquarters are under construction along the north side of the St. Johns River in Riverside. Near the Duval County Courthouse, municipal utility JEA will lease a new building under development.
The Emerald Trail is designed to link neighborhoods throughout Downtown and beyond with McCoys and Hogans Creeks, parks and greens space.
On the Southbank, the Museum of Science & History site is targeted for redevelopment as the museum prepares to build a new structure on the Northbank.
“Jacksonville is an amazing city and situated in a beautiful region and has tons of potential ahead of it,” Wolfburg said.
“Our commitment, JEA’s new headquarters, FIS’s new headquarters, everything going on with the Emerald Trail, MOSH Genesis, all of this is just going to continue to make this a better place to live, work, and play.”
