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Jacksonville Business Journal
The AI boom is coming for these at-risk manager roles
For years, front-line workers have worried about automation taking their jobs. It may end up being middle managers who are most in danger.<\p> Companies are gaining access to new artificial-intelligence tools and capabilities at the same time many are re-assessing their operations in a challenging post-pandemic economic environment. That combination of potential new efficiencies and a desire for cost savings is putting management-level employees in the crosshairs.<\p>
Four Seasons, Mercedes-Benz among top construction
Approximately $337.9 million of work was approved across 816 permits for the eight-day period ending May 27. Removing 699 permits for single-family homes, townhouses, duplexes, mobile homes and condominiums leaves 117 permits totaling $263.2 million.<\p> Among the top permits for the period are:<\p>
Restaurateur looks to bring distinctive tastes to life near downtown
A restaurant near downtown that looks to bring together cuisines from Spain into the Middle East is targeting a summertime opening, bringing fresh seafood, baked bread, braised meats and distinct spices to an historic space on North Pearl Street.<\p> “There are so many common threads of food, culture and language to celebrate, that's what Othello is going to be about,” owner Vanesa Ewais told the Business Journal. “The southern part of the Mediterranean — there's more to it than just Greek and Italian food, and, hopefully, we can showcase some of that.”<\p>
Amelia Island mansion looks to set record with $13.9M listing price
An Amelia Island mansion is for sale with a list price of $13.9 million, with the sellers hoping to set a local record.<\p> The newly constructed home sits on about an acre of land with private beachfront at 4330 S. Fletcher Ave. <\p>
Spec warehouse could be on its way to Cecil Commerce Center
The city's master developer at Cecil Commerce Center is considering a speculative warehouse at the industrial site, according to records filed with the city.<\p> The city and Texas-based developer Hillwood Investment Properties applied with the St. Johns Water Management District for an environmental resource permit for the project.<\p>
EverBank expands on the West Coast
Jacksonville-based EverBank NA is opening a West Coast financial center in Roseville, California, a suburb of Sacramento, part of an expansion of its presence in the West.<\p> The financial services company has most of its traditional bank branch locations in Florida, and financial center banking offices in New York, New Jersey, Boston and St. Louis.<\p>
JTA moves ahead with plan for U2C to Jags stadium
If construction on the Jaguars’ Stadium of the Future moves forward, it is not expected to impact the first phase of JTA's Ultimate Urban Circulator project.<\p> The Jacksonville Transportation Authority says it’s met with the football franchise to discuss the first phase, also known as the Bay Street Innovation Corridor, which will have station locations near the stadium.<\p>
How fintech Paysafe is growing — in Jacksonville and around the world
Paysafe, a provider of payment processing and digital wallets, posted its best quarter in Q1 2024 since going public in 2021. This marks seven consecutive quarters of year-over-year revenue growth for Paysafe. <\p> A London-based fintech, the company is led by CEO Bruce Lowthers, who is based on the First Coast and was formerly president of FIS. Paysafe's North American headquarters is in Jacksonville.<\p>
How PNC is looking to grow its private bank in Jacksonville
Not only are more people migrating to Florida, more money is moving with them. In the last three to four years, for example, Florida leads the nation in attracting Americans aged 26 to 35 who make over $200,000, according to Franklin Street data.<\p> As a result, PNC Private Bank, which offers wealth management and private banking services for high net worth individuals and families of $3 million or more, has dedicated a number of resources to the North Florida market.<\p>
Real estate commissions shakeup will require more agent scrutiny
The National Association of Realtors and several brokerages have struck big money deals to settle an array of class-action lawsuits around real estate commissions.<\p> It might become harder for homebuyers to figure out how to pick the right agent to work with in the wake of the settlements. That's because the settlements, which now add up to hundreds of millions of dollars, will also bring with them changes in how buying agents are paid, how homes are listed and may require more buyers to pay for an agent directly when buying a home. And if buyers potentially shell out thousands of dollars or more, they will have to do their own due diligence.<\p>
Developer explains why Five Points Theater is their next project
A historic piece of Park Street in Riverside was bought May 16 by an Atlanta-based investment firm.<\p> New owners Andrew Seng and Jay Weaver of Union South Partners plan to invest $2 million in renovations and maintain the space as an entertainment destination with retail and office, although the Sun-Ray Cinema will be out of the space come July.<\p>
What employers need to know about the crushing childcare costs
In the coming weeks, schools around the nation will be out, and many employees will find themselves scrambling for child-care options. <\p> But child-care costs are soaring, thanks to the child-care cliff, a lack of new child-care centers and workforce shortages in the industry, among other factors. <\p>
Longtime eatery on St. Augustine's bayfront to shut its doors
One of the most visible restaurants on St. Augustine's bayfront is closing its doors, the eatery announced Thursday on Facebook.<\p> A1A Ale Works said in its post that the restaurant's last day would be May 26.<\p>
Jags stadium deal looks pretty good for city compared to peers
For a mid-sized city like Jacksonville, being a metro with a major sports team comes with a price tag.<\p> The tough part is making that price as palatable as possible, and Jacksonville seems to have scored well when compared with similar NFL markets.<\p>
Rental rates are dropping fast in Jax
Although still elevated from pre-pandemic levels, Jacksonville’s rental rates are finally dropping. <\p> According to a report from real estate company Redfin, the biggest rent declines year over year have been in America’s Sun Belt — the lower, warmer half of the continent, which includes Florida, Southern California, Arizona, Texas and Tennessee.<\p>
Growing demand spurs Jax maritime school's move to bigger campus
To meet demand, a local maritime academy is moving to a new — and larger — location next week.<\p> Bluewater Maritime School offers entry-level classes for those looking to enter the merchant maritime industry as well as masters licensing education for experienced seafarers working to become captains, among others.<\p>
Four Seasons to rise from Shipyards along Northbank riverfront
The $215.1 million Four Seasons Hotel & Residences will soon rise along the Northbank riverfront.<\p> The city issued a construction permit for Jacksonville Jaguars owner Shad Khan’s Four Seasons hotel Wednesday, two weeks after it issued a permit for his six-story office building.<\p>
Green Flower add 2 new cannabis education certificates at UNF
The University of North Florida recently expanded its online cannabis education offerings in partnership with Green Flower.<\p> The new certification courses, Cannabis Compliance and Risk Management and Cannabis Product Development and Design, accompany three existing programs between Green Flower and UNF.<\p>
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