The long-awaited redevelopment of the historic Jones Bros. Furniture Co. building, constructed in 1926, has finally secured the necessary permits and financial incentives as of December 19. However, it remains uncertain whether this truly signifies progress for the project. There is significant skepticism among residents, fueled by years of inactivity not only on this project but also on others, such as the Laura Street Trio. Many have witnessed downtown initiatives stall despite substantial financial commitments from the city.

The Corner Lot Development Group has the permits and city incentives to transform the seven-story, 38,836-square-foot vacant building at 520 N. Hogan St. into a mixed-use development featuring 28 residential units and at least 1,700 square feet of co-working space. Avant Construction Group Inc. has been issued a $9 million renovation permit, but with the project's history of delays, many are wondering when tangible progress will be seen.

Adjacent to the Jones Bros. project, the site at 502 N. Hogan St., built in 1915 as the old Farah’s Uptown Deli, has been permitted for demolition to pave the way for a six-story mixed-use structure named Jones on Hogan. This ambitious plan includes 145 residential units, 8,500 square feet of retail space, and a 3,500-square-foot rooftop amenity.

Substantial Incentives: A Double-Edged Sword?

The Jacksonville City Council and the Downtown Investment Authority (DIA) have pledged over $14.1 million in incentives to alleviate some of the financial burdens for the developers. Nonetheless, the sluggish pace of development raises questions about the effective use of public funds.

Incentives Breakdown:

- Jones Bros. Project ($6.031 million):

- $2.089 million Historic Preservation, Restoration, and Rehabilitation Loan

- $2.736 million Code Compliance Forgivable Loan

- $1.206 million Deferred Principal Loan

- **Jones on Hogan ($8.07 million):

- $3.1 million Completion Grant

- $4.97 million Recapture Enhanced Value (REV) Grant (65% tax rebate over 20 years)

The total investment for both projects stands at an estimated $98.5 million, with a minimum development cost requirement of $40.86 million for the Jones on Hogan phase.

Why the Delays?

Despite obtaining a demolition permit for 502 N. Hogan St. in June 2022—shortly after property acquisition—development progress has been minimal. The lack of clear communication on delays leaves concerned residents pondering whether this project will continue to languish. Changes to road infrastructure around the site, such as reducing Church Street to one lane at the Gateway Jax Pearl Square construction site, may also create additional logistical challenges for both residents and local businesses.

Addressing Urban Blight and Homelessness

A pressing concern affecting area quality of life and redevelopment efforts is the homelessness crisis. The parking lot behind 502 N. Hogan St. has effectively become a low profile homeless encampment, marred by weeds, bedding, and personal belongings. Nearby properties, such as the Independent Life Building, are also struggling with code violations.

In addition, a new Florida law allows residents and businesses to sue municipalities that fail to address homeless encampments, highlighting ongoing concerns about oversight by absentee property owners.

Complicating the situation further, other DIA-backed projects—including the adjacent Independent Life, Ambassador Hotel, and Central National Bank—are currently stalled, prompting the DIA to reassess its financial commitments. DLP Capital, a partner in the Independent Life building, is also backing the Gateway Jax project.

Corner Lot Development’s Role

Corner Lot Development Group, founded by CEO Andy Allen and active in Jacksonville’s real estate sector since 2009, has experience in multifamily and residential development. However, their track record in urban redevelopment is less robust. While the Jones Bros. project has the potential to be a key component in the revitalization of Downtown Jacksonville, the numerous challenges may complicate its success.

Enhanced transparency and clearly defined timeline requirements, enforced by the new DIA board and CEO Lori Boyer, will help ensure timely construction progress. Additionally, active vigilance from community stakeholders focusing on downtown revitalization is essential for supporting the culture and community outside the new developments once construction is complete.