JACKSONVILLE, Fla. – Mayor Lenny Curry announced Tuesday that Berkman Plaza II, the unfinished tower that has languished for a decade along the Northbank Riverwalk in downtown Jacksonville, has been sold.
But instead of tearing the eyesore down, Curry said, the new owners plan to transform the vacant shell of a building into a hotel and entertainment venue that will breathe much-needed life into the area.
Curry acknowledged the buyer closed on the deal Monday. News4Jax later learned the buyer was 500 East Bay LLC, based out of Wisconsin, and the price was $4.75 million.
The mayor said he anticipates crews could begin clearing the site and preparing it for redevelopment within the next week. He said indications are the underlying structure is sound, and safe for renovation.
"The expectation is that structure will be reworked in a way that will be a hotel and riverfront entertainment," Curry told News4Jax.
Those living in the neighboring Berkman Plaza on East Bay Street said they've heard time and time again the site will be redeveloped. Some remain unconvinced this time will be any different.
"I will believe it when I see it," said Laura Thompson, who heads the community's homeowners' association.
The eyesore predates Curry's 2015 election. Work stopped on the Berkman Plaza II project in 2007 after a garage under construction nearby collapsed, killing one person and injuring several others.
The building was tied up in legal back and forth for years until the builder, Choate Construction of Atlanta, received it as part of a settlement stemming from the lawsuits that resulted from the collapse.
Now the tower, which has been a frequent target for complaints over the years, has new owners.
"I have been working with Choate, the owners of it, for over three years now. To be clear, it's been hard work. But yesterday we facilitated them closing with the developer on Berkman II," said Curry.
"They will be putting a hotel flag there and there will be some form of really fine entertainment," he added.
Curry anticipates the project could be complete in three years. It could tie in with other developments nearby, including the Shipyards project and a planned entertainment district near Daily's Place.
"I've always said it's not about the game," said Curry. "It's not about just developing one part of downtown. You know when you go from east to west to the middle of the core, this is a long-term plan. This is making sure that developers and investors know that Jacksonville is open for business."