The $7.5 million in federal financing would advance efforts to turn the historic structure near Downtown Jacksonville into a mixed-use cultural center. at 851 N. Market Street.
The historic National Guard Armory building near Downtown Jacksonville was once a place to see political speeches, athletic events and concerts by the likes of Duke Ellington and Janis Joplin.
On Sept. 10, efforts to revive the circa-1910s building as a cultural center got a boost when the Jacksonville City Council approved legislation allowing the city to pursue a federal loan for the project.
Council voted 18-0 in favor of Resolution 2024-0637, which authorizes Mayor Donna Deegan’s office to apply for a $7.5 million loan from the U.S. Department of Housing and Urban Development to help redevelop the armory building. Council member Terrance Freeman was not present.
The loan would support plans by REVA Development Corp. of Fort Lauderdale, through Armory Redevelopment Associates LLC, to adapt the armory into a mixed-use facility with art galleries and studios, co-working spaces, a food hall, performance space and a microbrewery. Residential units also are part of the plan.
After a bidding process, the city selected REVA in 2019 to develop the project. in 2020, the LLC entered into a 40-year ground lease for the property with the city, which had used the building as headquarters for the Parks and Recreation Department. It has been vacant for 15 years.
A city staff report on the resolution says the loan will come from HUD’s Section 108 program, which offers guaranteed financing to “to transform financially challenging projects into feasible endeavors.” As a recipient of federal Community Development Block Grant funding, the city is eligible for the loan program and will pay it back.
Under the resolution, the Housing and Community Development division of the Neighborhoods Department will oversee the loan application.
The 80,826-square-foot Armory is at 851 N. Market St. on 2.02 acres. It has endured flooding over the years, including when Hurricane Irma left 12 to 16 inches of standing water in the structure during 2017.
REVA, a 501(c)(3) nonprofit organization whose name is an acronym for Real Estate Ventures for the Arts, lists total cost of the project at $30 million, including work to reduce flooding. The developer says work on the nearby Emerald Trail will also alleviate the flood risk. Other factors in the project include removing lead-based paint and mold, and replacing obsolete mechanical, electrical and plumbing systems.
