The city Downtown Investment Authority approved a $4.97 million forgivable loan package Aug. 16 for JWB Real Estate Capital LLC to finance improvements at the Greenleaf & Crosby Building at an estimated cost of $16.88 million.
The 96-year-old building is at 208 N. Laura St. at Laura and Adams streets Downtown. It is a designated historic landmark.
JWB bought the building for nearly $7 million in June 2022.
The loan package comprises:
• A $1,948,800 Historic Preservation Restoration and Rehabilitation Forgivable Loan.
• A $2,027,100 Code Compliance Forgivable Loan.
• A $994,000 Deferred Principal Loan.
The scope of interior work detailed in documents presented to the DIA includes removing sheetrock in the lobby and stairs to restore the space to its original historic state, restoring original plaster walls and ceilings, removing nonhistoric flooring to restore terrazzo/original flooring in the basement, first floor, elevator lobbies and main corridors of each floor, renovating restrooms on each floor and improving building systems such as HVAC, plumbing, electrical and fire safety.
Exterior improvements include replacing the roof; removing the sidewalk to waterproof and caulk the basement that extends past the building footprint beneath the sidewalk; restoring the second-floor windows above the main entrance to original condition; cast stone repair work of the exterior; restoring the exterior fabric awnings and brass storefront systems; and other restorations.
The architect for the project is Jacksonville-based Studio 9. The general contractor is Avant Construction Group Inc of Jacksonville.
When the renovation is complete, the building will have 44,000 square feet of office space available for lease and an 11,000-square-foot restaurant on the first floor. JWB plans to move its headquarters from 7563 Philips Highway in Deerwood Center to the Greenleaf Building.