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Jacksonville Business Journal
St. Augustine seawall project to start in November 2025
The $45 million St. Augustine seawall construction project could start as early as November 2025 and is expected to add a layer of protection to the historic city.<\p> St. Augustine commissioners received an update on the project at a Commission meeting Monday night.<\p>
City looks to incentivize $35M industrial project in Northwest Jax
The Jacksonville City Council is now set to review a proposal to support a company’s plan to demolish a building in Northwest Jacksonville and construct a 300,000-square-foot building for industrial use at the site.<\p> Ed Randolph, the executive director of the Office of Economic Develop said the 21-acre site at 5421 Beaver St. has up to 300 abandoned vehicles and tractor trailers.<\p>
Hermeus is the company exploring Cecil for $135 million project
Hermeus, an Atlanta-based hypersonic aircraft company, is exploring Cecil Airport as a location for a new engine test facility, according to the Jacksonville Aviation Authority.<\p> The Mayor’s Budget Review Committee on Monday approved a proposal for incentive supporting the expansion of an aerospace and defense technology company under the codename Project Heat.<\p>
Big deadlines loom for Realtors commission lawsuits
The class-action lawsuits that rocked the residential real estate industry over the last year are barreling toward a possible conclusion — and some big changes in the remainder of 2024. <\p> One of the most important deadlines is Aug. 17, 2024, when the NAR has said it would implement a series of changes as part of its own $418 million settlement agreement over buyer commissions. <\p>
Cosentino Americas CEO says work on new facility close to starting
After facing a slight delay, construction on the new Cosentino manufacturing facility is set to begin in the coming months.<\p> The company is close to finishing the closing process on the new manufacturing site, said Eduardo Cosentino, the CEO of Cosentino Americas.<\p>
Gen Z cites housing affordability as its top election issue
In the wake of rapid home-price appreciation during the Covid-19 pandemic, housing is playing a bigger role in how Americans vote — among one demographic in particular.<\p> Ninety-one percent of adult Gen Zers said in a recent Redfin Corp. (Nasdaq: RDFN) survey housing affordability is important when considering whom they will vote for in the presidential election this November. Among a list of nine broad political topics, the subject ranked No. 1 for that generation — ranking even higher than the strength of the overall economy, which was the top priority for millennials, Gen Xers and baby boomers. Housing affordability for Gen Z respondents also outranked issues of education, gun rights and abortion rights.<\p>
National homebuilder committed to Jacksonville growth
A national homebuilder is picking up momentum in Jacksonville with multiple communities under construction, ready for sale and more in planning.<\p> Taylor Morrison, which is headquartered in Scottsdale, Arizona and is one of the top builders nationwide, announced Tuesday that two communities are now for sale along the First Coast — one in St. Augustine’s SilverLeaf and the other in Palm Coast. <\p>
Jax firm helps small businesses protect against cyber threats
CMIT Solutions is a managed IT Services provider that offers innovative, third-party technology solutions for small- to medium-sized businesses. CMIT provides personalized services that enable businesses to scale without worrying about complex IT issues and cybersecurity.<\p> The industry leader includes more than 250 franchise locations and 900 top technology practitioners. Dom Sanfilippo launched the Jacksonville CMIT Solutions in 2008. <\p>
Update: Rise Doro back for incentives ahead of reconstruction
The fire-damaged, and now demolished, Rise Doro apartments are slated for new city incentives before reconstruction. <\p> The Downtown Investment Authority Strategic Implementation Committee agenda proposes a $3 million workforce housing grant and a $1 million emergency rapid response grant from the city as well as a tax rebate of 75% over 20 years for Rise: A Real Estate Company to rebuild its mixed-use development.<\p>
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