Remodeling project aims to revive historic building in downtown Jacksonville
The owner of the historic Barnett National Bank building in downtown Jacksonville applied for a permit to remodel the vacant 18-story office building.
The remodeling project would turn the building into a mixed-use property with 108 apartments at a cost about $22.4 million.
The building’s owner, Barnett Tower LLC, applied Dec. 20 for a permit to remodel the 156,744-square-foot building as a mix of residential units, offices and retail stores.
Built in 1927, the Barnett building at 112 West Adams St. in Jacksonville is listed on the National Register of Historic Places.
SouthEast Development Group financed its 2013 acquisition of the building with a $3 million from a company owned by Shad Khan, owner of the National Football League’s Jacksonville Jaguars.
SouthEast lost the building in foreclosure to Kahn’s company, Stache Investments Corp.
Last February, Las Vegas-based Molasky Group bought the building from Stache Investments for $4 million.
Molasky revived plans to remodel the building in partnership with SouthEast, led by principal and managing director Steve Atkins, who also serves as manager of Barnett Tower LLC. [Jacksonville Daily Record] – Mike Seemuth
Source: The Real Deal