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Jacksonville Business Journal
How this Jax-based architecture firm's new acquisition fits in
An employee-owned architecture, engineering and consulting firm headquartered in Jacksonville has its sights set on expanding westward, and its most recent acquisition enlarges its national footprint.<\p> RS&H acquired HB&A, a Colorado Springs-based architecture and planning firm earlier this month. <\p>
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>
Chef Norberto Jaramillo is not done serving high-end food yet
After 19 years, Chef Norberto Jaramillo will close the doors of La Cocina International inside Castillo Real hotel — but that won’t be the end of the chef’s impact in St. Augustine. <\p> Jaramillo operates two other St. Augustine locales: De Leon Latin Cocina, which uses local cuisine to represent his Colombian roots and La Cocina Bistro and Catering, a small market and Colombian bakery that serves as the production facility for Jaramillo-catered events. <\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>
The National Observer: Here's where the money lives
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals network of publications. Today,y we've got stories on the rising number of towns in which the median home costs more than $1 million; the interest office tenants are taking in their landlords' financial situation; and plans for a multibillion-dollar supercomputer complex by Elon Musk. But first, here's our inaugural list of the ZIP codes with the greatest concentrations of wealth in the U.S.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\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>
Future of DIA could be autonomy, committee says
The Downtown Investment Authority could receive independence from City Council through legislation by the conclusion of the Special Committee on the Future of Downtown. <\p> At its second meeting Monday morning, vice committee chair Rory Diamond expressed his goal to write legislation that reforms the DIA and what it will look like in the next generation, which centers on making the entity less dependent on Council approvals. Independence could include a DIA budget from the general fund as well as its own general counsel. <\p>
Bainbridge Ponte Vedra apartment community opens
The Bainbridge Companies LLC announced recently that Bainbridge Ponte Vedra, an apartment community, has opened. <\p> Located at 440 Burbank Ave., Bainbridge Ponte Vedra offers one-, two- and three-bedroom homes ranging from 797-1,485 square feet. All 396 apartments feature designer fixtures in kitchen and bathrooms, plank flooring, stainless steel appliances, quartz countertops and in-unit washers and dryers.<\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>
The List: First Coast's largest Audio & Video Production Companies
This week’s Jacksonville Business Journal lists the largest audio and visual production companies on the First Coast.<\p> The full List is available only to subscribers. Don’t subscribe? Sign up today. Digital subscribers can view the entire List online. Subscribers can also view additional records and expanded company information such as the firms’ practice areas.<\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>
Hypersonic aircraft company development at Cecil seeking incentives
The Mayor’s Budget Review Committee is set to review a proposal that will support the expansion of an aerospace and defense technology company and another for the demolition of a blighted building for new construction.<\p> Under a proposal dubbed Project Heat, an unnamed aerospace and defense technology company is seeking to expand its operations in Jacksonville, city records show.<\p>
These are the Fla. neighborhoods with the most excessive property fees
Tax, home insurance and homeowner association fees can add hundreds or even thousands of dollars to your monthly bills. But the level of these fees compared to your repayments can vary widely depending on where you live, even down to your ZIP code.<\p> To find out where the most and least excessive fees are, lender CashNetUSA analyzed these add-ons as a percentage of overall monthly costs around the U.S. to see where potential homeowners can find the best deals — and which areas have the most disproportionate property fees. The research team analyzed Zillow’s “for sale” listings and calculated the estimated monthly payments for homeowner association properties in 1,890 U.S. neighborhoods and then ranked the neighborhoods with the highest and lowest monthly payments dedicated to property tax, home insurance and HOA fees as a percentage of total repayments (including Principal and Interest).<\p>
Warehouse/storage project proposed on Race Track Road
A warehouse/mini warehouse project has been proposed for an area off Race Track Road, and the plan received a mixed review from the St. Johns County Planning and Zoning Agency.<\p> The proposal is for just less than 150,000 square feet of warehouse and commercial space on about 10.6 acres at 4280 and 4286 Race Track Road. The site is currently being used for the Durbin Creek Nursery.<\p>
Community First Credit Union names new CEO
Community First Credit Union of Florida announced that D. Samuel Inman has been selected as the successor to retiring CEO John Hirabayashi. Inman will transition into the new CEO and president role before taking full control on Aug. 31.<\p> “I’ve had the privilege of working with Sam during my entire 28-year career with Community First and he has been instrumental to our growth and financial stability,” Hirabayashi said in a press release. “I am confident Sam will build upon our successes and take the credit union to the next level.”<\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>
First Coast Forward: Will moving jail spur downtown development?
The jail on East Adams Street in Jacksonville is a vestige of a bygone era. <\p> When the John E. Goode Pre-trial Detention Facility was built more than three decades ago, the county courthouse was located not far away along East Bay Street, giving the jail and the adjacent Police Memorial Building close proximity for in-person court appearances.<\p>
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