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A $72 million historic renovation is happening right now in Jacksonville to the Union Terminal Warehouse. It will become the place where hundreds of people can live, work and entertain.
The four-story warehouse sits just beside the Arlington Expressway. In 1913, the warehouse was known as the finest warehouse in the state of Florida, and was the largest commercial building too.
“This is going to create similar opportunities for people to live and work in a building that’s been part of our fabric for decades but long been forgotten for the most part in terms of its productive capacity,” said Steve Kelly, Director of Downtown Real Estate and Development for the Downtown Investment Authority.
The 110-year-old building, with a grid-like façade, terracotta tiles on the walls, steel clad doors, concrete stairwells and reinforced concretes support will transform.
“We will actually be roasting here and have a café here so we are super excited about this opportunity,” Leo Baker, President of Vantage Point said. “We are just excited to be here in Jacksonville and expand our business by employment and great coffee to the community.”
House Bill 499 and Senate Bill 288 would provide state funding for other historical buildings in the state to be renovated and preserved. Local politicians hope the bills pass.
State Representative Paula Stark said, “It gives developers and even individuals who are interested in older buildings and restoring them, a little more incentive to do it.” Stark represents District 47, Osceola County and South Orange County.
Currently projects like the Union Terminal Warehouse get a 20% federal tax credit but if the bills pass, it would create a 10% credit on the state level.
“Absolutely we are going to support it,” State Representative Dean Black said. “It is going to have a lot of support and really for a couple of reasons because you get the best of both worlds. We actually get to preserve our history but we are also going to help address housing affordability at the same time.”
State Senator Tracie Davis said, “This is a perfect example of a partnership on the local, state and federal levels and it’s just amazing.”
In less than a year, the Union Terminal Warehouse will begin a new renaissance as a home, business and entertainment cornerstone for the growing bold city.
See the whole story from News4Jax.