Council approves package for former site of River City Brewing
The $99.16 million proposed Southbank apartment development to be called RD River City Brewery made significant progress on June 8 when the Jacksonville City Council unanimously approved Related Group of Miami’s redesign of the project. The redevelopment agreement includes $18.27 million in taxpayer incentives.
The eight-story building with 327 multifamily units, an attached 535-space parking garage, and a restaurant and bar with 3,200 square feet of outdoor dining space and a 914-square-foot indoor dining area will replace the River City Brewing Company next to Friendship Fountain on Downtown Jacksonville’s Southbank.
The developer plans to buy Maritime Concepts’ interest in the city-owned property and buy out the remaining 77 years of the company’s long-term land lease. Maritime owns the existing restaurant.
The 19-0 vote awarded Related Group a 75%, 20-year Recapture Enhanced Value Grant, which could refund up to $12.99 million of the parcel’s property tax growth.
The remaining public incentives package has $5.277 million in completion grants for the restaurant and site infrastructure work; improvements to the 29-slip public marina; increased maintenance on the adjacent park; and city lease revenue loss.
In January, Related Group of Miami submitted conceptual plans for the $92 million project to the Downtown Development Review Board. The Downtown Development Review Board deferred conceptual approval or Related Group of Miami’s redesign to give the developer a chance to make changes.
The changed plans include pocket parks worked into the exterior, varying architectural design features in the windows and elevations, and resident lounge terraces.
On March 17, the Downtown Investment Authority released a report that called the latest design “modern in style with clean lines, smooth textures, and minimal ornamentation.” On March 23, the Downtown Development Review Board granted conceptual approval for the latest design for RD River City Brewery apartments.
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