J Magazine Fall 2017

WHO OWNS DOWNTOWN?
» DATA VISUALIZATION: Courtney Williams & MARC JENKINS «
Times-Union previously reported.
Last year, the site at 801 Broadcast
Place had an assessed value of $25.9 million,
but because it’s owned by JEA, the
taxable value is zero.
The development value for The District
would be $400 million-$450 million,
which will increase the taxable value exponentially.
The same would be true for the 70
acres that Jacksonville Jaguars owner
Shad Khan wants to develop across from
EverBank Field.
If an agreement is reached with Khan’s
investment company, the city-owned
Metropolitan Park and Shipyards sites —
which have no taxable value — would become
another mega-development.
At full build-out, the project will include
600-1,000 residential units, a hotel,
300,000 to 500,000 square feet of office
space, 150,000 to 250,000 square feet
for retail and restaurants and a marina,
the Times-Union reported. All of which
should bring a huge increase in taxable
value.
Mayor Lenny Curry’s budget included
$8 million to demolish the old county
courthouse and city hall on Bay Street.
Wallace said the ability to have a clean
slate on the high-profile site near the Hyatt
Regency Jacksonville Riverfront would
be attractive to a developer.
And hopefully become another example
of turning a government-owned property
into a development that generates
jobs, capital investment and tax dollars.
Wallace pointed out that the tax-exempt
institutions in Downtown play a
role in its vitality and lifestyle.
Indeed, they invest millions in capital
improvements, employ thousands of
people who give a boost to Downtown
businesses and can serve as a catalyst for
growth.
For example, the Jessie Ball duPont
Fund spent more than $20 million to buy
and convert the former Haydon Burns Library
into an office center for nonprofits.
Those agencies brought 200 employees
to Downtown, all potential customers for
restaurants and stores.
The impact from the center’s 2015
opening was felt quickly, including by the
Burrito Gallery. The restaurant received
a $73,000 DIA grant to finance a kitchen
expansion and other work, which owners
said was partly necessary because of the
influx of customers from its new neighbor
just across Adams Street.
The renovations at the Jessie Ball du-
RESIDENTIAL
NONPROFITS
CHURCHES
Total assessed value: $330.76 million
Percent of assessed value in Downtown: 10.94%
Total taxable value: $313.86 million
Percent of taxable value in Downtown: 21.51%
Total assessed value: $371 million
Percent of assessed value in Downtown: 12.28%
Total taxable value: $13.24 million
Percent of taxable value in Downtown: 0.91 %
Total assessed value: $78.23 million
Percent of assessed value in Downtown: 2.59%
Total taxable value: $6.64 million
Percent of taxable value in Downtown: 0.45%
SOURCE: 2016 Property Appraiser’s Office, ESRI
FALL 2017 | J MAGAZINE 23