DIA considers plans to build apartments on Southbank restaurant location
Redevelopment along Downtown’s riverfront could be shifting to the Southbank.
Related Group of Miami is in talks with Maritime Concepts, owner of the River City Brewing Co., to build a $92.34 million apartment building on the Southbank location where the iconic restaurant now stands.
Maritime has entered into a contract with Related Group to sell its interest in the property and buy out the 77-year ground lease on the 3.4-acre riverfront location for $10 million.
As proposed, the city would give the $4.93 million site to Related Group, which would make at least $250,000 in improvements to the Southbank Riverwalk. That would put the property back on the tax rolls, said Lori Boyer, CEO of the Downtown Investment Authority.
The city would get 100% of the taxes on the $4.93 million assessed value. Related Group would receive a 20-year, 75% Recapture Enhanced Value Grant, not to exceed $11.9 million, on the value of the new property.
The company plans to raze the popular steak and seafood restaurant and build a $92.32 million development that would include:
- An eight-story apartment building with 335 units with 27 studio apartments, 117 one-bedroom, 167 two-bedroom and 24 three-bedroom units. Amenities would include a riverfront swimming pool, clubroom, 3,500-square-foot fitness center, courtyard, deck and storage for bikes and kayaks.
- A 1,800-square-foot restaurant, with 3,200 square feet of outdoor seating. The company wants the city to pay half or up to $500,000.
- An eight-story parking garage with 535 spaces, including 30 public spaces and additional space for the Museum of Science and History.
- Reconstruction of the River City Marina, which was damaged in 2017 by Hurricane Irma. Related Group would operate the marina and reserve 20 slips for the public. The city would pay about $2.8 million to relocate an underground fuel tank and upgrade the marina boat ramp and dock.
- A 1,000-square-foot store where boaters could buy supplies.
The city gets 110 feet of riverfront property to expand the Riverwalk and the Friendship Fountain park.
In terms of resilience, Boyer said the city will move an underground fuel tank that is close to the waterfront farther inland and above ground.
The proposed building will have a 50-foot setback from the river and the first-floor elevation will be at least two feet above the flood plain as required by building codes revised after Hurricane Irma.
The restaurant owner, Maritime Concepts, leases the property from the city for $40,000 a year. The lease expires in 2097. Maritime also has the right of first refusal if the city decides to sell the property. Boyer said DIA would work with Maritime to find another location for the restaurant in the vicinity.
DIA has issued a notice of disposition, which means other bidders on the site have 30 days to present their projects. New bids would be considered at the DIA’s November meeting.
If no new projects are offered, DIA is likely to move ahead with the project, which requires approval by City Council, probably after the first of the year.
The project would mean the end of an era for the iconic site, which has been occupied by a restaurant for close to 75 years.
The Lobster House opened in 1944 in an old warehouse and quickly became a hit with businessmen and politicians. It had a cameo role in the 1955 film, “Revenge of the Creature.” The restaurant was destroyed in 1962 in a fire.
The Friendship Fountain was built a year later and a new seafood restaurant Diamond Head, which was bulldozed in 1990 to make room for the Acosta Bridge.
A new restaurant, Harbormasters, was built and became River City Brewing Co. in 1998.
Related Group’s apartments would be another link in a chain of apartments on the riverfront along the Southbank. The addition would give the Southbank more than 2,300 market-rate units.
The 28-story Strand, with 295 units, opened in 2007 followed a year later by the adjacent 37-story Peninsula condominiums, with 256 units.
Two years ago, Broadstone River House Apartments, with 263 units, opened between The Southbank Hotel at Jacksonville Riverwalk, formerly the Lexington, and the Duval County School Board building.
East of Acosta Bridge, the eight-story Southbank Urban Residences with 185 units, is under construction and is expected to be completed by spring 2022.
And in the pipeline are 915 units planned for the District, west of the School Board building.
By Lilla Ross
Resident community News
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