JACKSONVILLE, Fla. — A project on Jacksonville’s Eastside is underway that will transform a warehouse with more than a century of history.
The Union Terminal Warehouse was built in 1913.
Columbia Ventures acquired the property in December 2018 and plans its adaptive reuse as a vibrant multi-family anchored mixed-use community.
Financing methods include utilizing historic tax credits and opportunity zone equity as key components of the capital stack.
The project site is at 700 East Union Street, and the work plans to help revitalize Jacksonville’s Eastside.
The site has been designed by Dasher Hurst Architects who says there will be market-rate apartments, restaurants, indoor parking, a rooftop terrace with great views of downtown and other retail spaces.
“It’s a nice area, quiet and everything -- so I think it’d be good,” said Little John Cox who lives on the Eastside.
According to Columbia Ventures, when completed in 1913 -- owner C.B. Gay declared it to be “the largest and finest warehouse in the state of Florida.”
Action News Jax met Elizabeth D’Augerot, a commercial realtor and local investor outside of this project. She also lives on the eastside.
“It’s such a beautiful area,” D’Augerot said. “At one point this area was the place to live. So, the fact that it ever really took a downturn is sad but to see that it’s being revived again -- I think is very important.”
According to Columbia Ventures: it will be a unique and authentic node along the Emerald Trail and Hogan’s Creek. It will be a place that locals are proud to name amongst their City’s growing catalog of features.
The project is expected to wrap in the second quarter of 2024.
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