Two companies are seeking to redevelop and operate the municipal marina on St. Petersburg’s downtown waterfront.

The city on Thursday publicly released the two proposals that had been submitted last week. Each promises profitable overhauls, but they differ in cost and scope.

One is a joint proposal from Safe Harbor Marinas and the Harborage Marina at Bayboro, which Safe Harbor operates. It is located a few blocks south of the municipal marina. The other pitch comes from Suntex Marinas.

Both companies have a national footprint — Safe Harbor owns 135 marinas around the country, while Suntex owns or manages 73 — and both run more than a dozen marinas in Florida. Both also run saltwater marinas, a city requirement after a previous effort to find a redeveloper-operator under former Mayor Rick Kriseman failed over the favorite’s lack of saltwaterexperience.

The Safe Harbor proposal begins with a five-year lease, a length favorable to the city because it wouldn’t require voter approval through a referendum. It would still need to be approved by six out of eight city council members.

The company would pay the city a total of $1.25 million up front for the five-year lease. After five years, it proposes, its payment to the city would be based on a percentage of its revenues, estimated at $678,000 in Safe Harbor’s sixth year at the helm and increasing to $1.2 million by year 10.

Estimates three years ago pegged the cost of redeveloping the marina at $30 million. Safe Harbor would put $48 million toward the project, according to the proposal. That includes new docks with additional space, a welcome center and a two-story “amenity center” with a lounge and exercise facility. It also involves a new restaurant on the site of Fresco’s Waterfront Bistro, which the city included in its request for proposals.

The Suntex proposal goes bigger. It says the company would invest about $70 million in the redevelopment, including more dockage than the Safe Harbor proposal, infrastructural overhauls, a two-story restaurant and changes to the public space around the marina, including a new plaza and athletic fields.

Rental payments to the city would be based on a percentage of revenue. In the first 10 years, according to the proposal, it projects that payment at $14.2 million, more than double Safe Harbor’s projected payments over the same time.

Unlike Safe Harbor, though, Suntex wants the kind of long lease that would require voter approval: 30 years, to be followed by two 25-year extensions.

Some of the more than 100 people who permanently live on boats at the marina have said they fear their rents — less than $1,000 a month, making it an affordable option in an increasingly hard to afford city — will spike when a private operator takes over.

The Suntex proposal says the city’s current rate for those residents is in line with the typical rates in the region, and that “the live-a-board fee will be competitively adjusted to reflect the future marina’s amenities.” Those residents would also “be subject to vessel relocations and customary construction and utility disruptions” during the redevelopment. The Safe Harbor proposal does not address current residents.

Spend your days with Hayes

Subscribe to our free Stephinitely newsletter

Columnist Stephanie Hayes will share thoughts, feelings and funny business with you every Monday.

You’re all signed up!

Want more of our free, weekly newsletters in your inbox? Let’s get started.

Explore all your options

A city report in 2014 found the marina was in need of extensive repairs. The search for a redeveloper-operator began in 2019, when Safe Harbor Marinas submitted an unsolicited proposal to redevelop the marina. It proposed taking on the cost of renovating the marina in exchange for the right to lease and operate it.

That triggered a city process to give other groups opportunities to submit offers. Kriseman’s pick — a proposal by Safe Harbor Development, a Tennessee-based company that’s different from Safe Harbor Marinas — got pushback from the marina’s boaters and never got the approval of a supermajority from City Council to go forward.

Mayor Ken Welch restarted the process to find a developer-operator in April. The request for proposals has no selection criteria and Welch will be the sole arbiter of the winning proposal, though staff will compile a strengths and weaknesses report.

Source

Driven by integrity and a long-standing culture of performance excellence, Centennial doesn’t just build structures – we transform spaces and create places. These are unique places for our clients to learn, teach, work, play, and heal. With 30 years of nationwide experience on over $4 billion in diverse projects, we excel at making the impossible possible.

Come explore the Centennial difference.

Source

Your commercial design build process just got a lot simpler.

Founded in 1957, J&B Ohio has decades of experience as a multi trade commercial construction contractor. We specialize in putting the finishing touch on projects, from EIFS exteriors to glass/glazing, doors and hardware, flooring, ceilings, and more.

• Exterior Wall Panel Systems
• Glass/ Glazing
• Doors & Hardware
• EIFS
• Framing/Drywall
• Flooring
• Acoustical Ceilings & Wall Panels

Explore Our Products and Services

Source

Excellence in Construction,
Teamed with Unparalleled
Customer Care Our experience and commitment can help turn
your dreams into a reality. Contact Us Today Akron Canton Airport Ticket
Wing Addition & Renovation 10,000 SF phased and occupied renovation
to the existing ticket wing interior, façade,
and canopy with a 2,000 SF addition on the North end. View the Project Gleneagles Golf
Course Clubhouse New construction and site development of a 20,000 SF
golf clubhouse and banquet facility, with basement cart
storage, and new entry drive and parking lot improvements. View the Project Akron Water Distribution
Yard Relocation New construction and site development of a
20,000 SF, two story office building, with an
attached 40,000 SF pre-engineered metal building. View the Project Ohio & Erie Canal
Towpath Trails We have built miles of the Ohio & Erie Canal Towpath
Trail including Cascade Locks, Northside Connector,
Park East, Summit Lake, Kenmore, and PPG trail sections. VIEW THE PROJECT Your Project will be Given
the Personal Attention
it Deserves From beginning to end, we will provide the experience,
resources and dedication necessary for a “job well done.” Contact Us Today

WHO WE ARE AND WHAT WE DO

The Cavanaugh Name Stands for Excellence in Construction, Teamed with Unparalleled Customer Care

Our objective is to provide a positive construction experience for our clients from ground breaking stages to final occupancy. Through our experience, resources, and the dedication of our valued employees, we supply the owner a can-do work ethic combined with a cost effective strategy to meet all of their expectations. We guarantee that your project will be given the personal attention it deserves. From beginning to end, we will provide the experience, resources, and dedication necessary for a “job well done.”

Fourth Generation Business

Positive Construction Experience

Unparalleled Customer Care

Exceeding Customer Expectations

Excellence in Construction

We specialize in commercial and industrial construction, site development, and carpentry
employing talented project managers, estimators, and tradesman including heavy equipment operators, skilled laborers, and award-winning carpenters coupled with the latest technologies.

General Contracting

We are a full service general contractor employing in house operators, laborers, carpenters, and manage…

Site Work

Our skilled operators, laborers, and fleet of heavy equipment with GPS technologies perform site demolition, grading, excavation, and utilities…

Carpentry

Our skilled carpenters specialize in rough and finish carpentry, timber framing, concrete form work, metal studs, drywall, ceilings…

Design-Build

We specialize in the design-build method of construction in which Cavanaugh Building works hand in hand with the design team…

WE LEAD BY EXAMPLE

Our Projects

CarpentryDesign-BuildGeneral ContractingSite WorkShow All

CarpentryDesign-BuildGeneral ContractingSite WorkShow All

CarpentryDesign-BuildGeneral ContractingSite WorkShow All

CarpentryDesign-BuildGeneral ContractingSite WorkShow All

About Cavanaugh

Our objective is to provide a positive construction experience for our clients from ground breaking stages to final occupancy.

“; err += “To fix this, you can:
1. Set ‘Module General Options’ -> ‘Advanced’ -> ‘jQuery & OutPut Filters’ -> ‘Put JS to Body’ to on”; err += “
2. Find the double jQuery.js inclusion and remove it”; err += “”; err += “”; var slider = document.getElementById(sliderID); slider.innerHTML = err; slider.style.display = “block”; } } ]]>
Source

A breakdown of commercial and multifamily construction data in top US metropolitan areas 

The return of demand for apartments, condos and commercial real estate made 2022 a landmark year in the history of construction starts and brought considerable construction activity along with it.

We started the year publishing our Top 10 MSAs list for 2022 and already at the end of Q1, there were a few shakeups. Most notably: Los Angeles broke into the top 10, edging out Seattle.

Combined, the metropolitan areas of New York; Dallas; Washington, DC; and Miami accounted for almost half of the commercial and multifamily starts across the top 16 metropolitan areas last year — meaning these cities are ready for droves of people to move in and call it home. New York led the pack with an impressive $37.8 billion, which accounts for roughly 12% of all US commercial and multifamily starts.

While the top MSAs shows a return to major metros like NYC, it simultaneously presents a different story for other metros. Beacon metros on either coast show the impact of high living costs in those parts of the country. Demand was in decline in Los Angeles and Boston as more people moved out to the suburbs. Secondary metros and suburbs can be cheaper than the cities they surround; LA and Boston were the only two metros in the top 16 to see declines in commercial and multifamily construction starts in 2022. And, as we pointed out, LA still broke over Seattle; affordable or not. 

Moreover, the data indicates that not only were people leaving bigger metros, but they were also moving to more affordable states like Texas. When looking at Texas metros, the influx of people is bolstering the very robust increases seen in Dallas, Austin and Houston across 2021 and 2022.

It’s a competitive climb to the top 10. And it will remain so: commercial and multifamily starts across the top 16 metropolitan areas improved 30% in 2022, up substantially from 18% growth in 2021.

The second half of the year is shaping up to be a challenging one. Be sure to check back soon for the MSA data mid-year update to see which cities entered — or fell out of — the top 10 in the first half of 2023.

Source

Ox Hill Companies is moving forward with City Centre West, a seven-story development in Fairfax, Va., that will feature condominiums, office and medical office space.

The Fairfax City Council approved the application for development Tuesday after a five-year design process. 

Located on 1.78 acres at 10501 Main Street in Old Town Fairfax, the 210,029-square-foot mixed-use development will feature 79 condominiums and penthouses, 28,200 square feet of office space, plus an additional 8,500 square feet for medical offices. The building will also feature a drive-through bank, ground-floor retail, restaurants and a park named Corner Public Plaza Park. 

Ox Hill assembled the three parcels for the project in 2019 through separate purchase agreements. The prices of the deals were not disclosed. 

“The luxury condominium market is one of the least-served product types in Northern Virginia,” Chris Smith, managing principal of Ox Hill, told Commercial Observer. “Buyers of this product type have limited choices of products and locations and often leave Fairfax County for D.C. and other places. Fairfax provides a quaint walkable town, centrally located, for luxury buyers interested in a slower-paced environment and higher quality of life.”

Ox Hill is committed to — and designing in accordance with — the requirements and goals set forth in the Old Town Small Area Plan, which was part of the larger 2035 Comprehensive Small Area Plan for the City of Fairfax. The plan was originally adopted by the City Council in 2020.

“With this first project, Ox Hill will be focusing on Key Idea 5 — establishing a balanced city center with a transition into mixed-use buildings,” Smith said. “The appeal for the city is focused on the need for increasing multifamily options in Old Town. For the buyer, it provides the highest quality construction and luxury in the region.”

Amenities in the building will include a rooftop pool, concierge service and private underground parking.

Thomas Juul-Hansen, a New York City-based designer, is designing both the interior and exterior of the building.

Groundbreaking for City Centre West is expected in March, with a completion date projected by spring 2026.

Keith Loria can be reached at [email protected].

Source

Eric Messer. Credit: Cushman & Wakefield

Throughout the industrial boom of recent years, Florida’s industrial market experienced tightening conditions and continuous record-breaking performance, driven by robust warehouse/distribution activity in the port cities of Miami and Tampa. But an additional market might be reaping the benefits.

Could Jacksonville, and North Florida more generally, be the next industrial market to blossom, propelled by an influx of manufacturing interest?

Florida’s industrial market continued to outperform the overall U.S. in early 2023. At the close of the first quarter in 2023, the state’s major markets averaged only 2.7 percent direct vacancy (excluding sublease opportunities) — well below the national rate of 3.3 percent.

Christa DiLalo. Credit: Nancy Warner

South Florida remains the state’s industrial darling, bolstered by its global connection to the Caribbean and Latin America primarily through the Port of Miami and Port Everglades in Fort Lauderdale. Miami-Dade County has the largest industrial inventory in Florida with more than 168.3 million square feet of warehouse/distribution (W/D), manufacturing, and office services/flex product. It also boasts the lowest vacancy in the state, with a direct vacancy rate of only 1.5 percent during the first quarter of this year. Despite substantial new construction increasing the inventory, this rate has decreased 200 basis points over the past five years. 

Meanwhile, Broward County boasted the highest asking rental rates in the state at $15.29 per square foot triple net, followed closely by Palm Beach County at $15.13 per square foot. These South Florida markets are the only three in the state to surpass the $10-per-square-foot mark. That’s compared with the state average of $10.15 per square foot.

In comparison, average industrial asking rents in Jacksonville are the lowest in Florida at just $6.28 per square foot, offering prospective industrial users cost-saving opportunities. In addition, Jacksonville’s strategic central location within the Sun Belt sets up a unique opportunity for manufacturing and distribution companies to rapidly reach many of the growing cities in the Southeast.

In particular, the Jacksonville market is seeing something of a resurgence when it comes to manufacturing product. Like much of the U.S., Florida’s industrial landscape is dominated by warehouse/distribution product, which comprises more than three quarters of the state’s industrial inventory. However, the manufacturing sector has been gaining momentum, with a statewide direct vacancy rate of only 1.3 percent — tighter than the W/D rate of 2.9 percent. While warehouse space has been infused with new supply through recent speculative construction deliveries, manufacturing has seen limited supply built over the last decades.  And with an average age of 48 years, Florida’s manufacturing building stock is also substantially older than other product types. 

And when it comes to manufacturing, Jacksonville is emerging as a rising star.

In early June 2023, Toronto-based roofing company IKO industries confirmed a $270 million investment in a manufacturing campus near Jacksonville. Expected to total 700,000 square feet, the Clay County project will feature an asphalt shingle production facility, an insulation board plant, and a commercial rolled roofing plant. The first stage — a 300,000-square-foot shingle facility — is slated to be functional by mid-2025.

The Jacksonville City Council approved the 330-acre land sale and incentives package for Cosentino Group, a Spanish sustainable surfaces company, for a multiphase manufacturing facility at Cecil Commerce Center in West Jacksonville in late May 2023. The first phase of the project is slated to break ground in January 2025 and will include a 408,000-square-foot manufacturing facility and another 734,000 square feet for adjacent support areas and two production lines. 

In the first quarter of 2022, construction was completed on a Niagara Water bottling plant, a 554,000-square-foot build-to-suit manufacturing facility in Middleburg. Together, these Jacksonville-area properties mark Florida’s three largest manufacturing construction projects in more than 15 years. 

Manufacturing activity has been on the rise elsewhere in the Southeast in recent months as well. In Atlanta, companies like Rivian, Hyundai Motor Group/SK On, Qcells, and SK Innovation have announced more than $13.2 billion in combined capital investment for planned EV-related manufacturing projects. Earlier this month, SK On and Ford received a $9.2 million federal loan for three EV battery plants in Tennessee and Kentucky. In the Carolinas, healthy 2022 activity was followed by a March 2023 announcement by Dura Supreme Cabinetry for a multimillion-dollar manufacturing initiative in Iredell County near Charlotte.

Looking toward the future, Jacksonville’s affordability and its central location connecting Florida to the rest of the Southeast will continue to drive a rise in interest among manufacturing users, benefiting not just the metro but Florida as a whole. 

Eric Messer is senior research manager of Florida research and Christa DiLalo is director of Southeast research for Cushman & Wakefield.

Source