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Can somebody explain Lot J?

#1

OK, Khan wants to invest in a $500 million project near the stadium, in an attempt to boost revenue for the Jaguars.
How does this work, exactly? 

Let's say Shad builds a hotel next to the stadium.  How does that boost revenue for the Jags?  Will the team be selling $8 Pepsi to hotel guests?  It sounds like the stadium would be open as a commercial entity on non-game days.  Doing what, exactly?  Renting out space for yoga classes?  Do they think hundreds of people a week are going to want a stadium tour?

Then there's this idea that an NFL game can be hyped into a week-long destination event.  I wonder how the people who paid for the $1800 ticket/hotel package will feel when seeing game tickets hawked outside the stadium for $20?  Then they can enjoy a half-empty stadium in the broiling sun and a team getting blown out by halftime.

Why doesn't Shad just build a truck bumper factory next to the stadium?  It would certainly be profitable, but again I don't see how operating some other business adds to the Jaguars bottom line.
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#2

The Jaguars as a business are the ones making the 500 million dollar investment. Therefore they will reap the profits of the complex, rents, sales, etc.
Looking to troll? Don't bother, we supply our own.

 

 
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#3

(02-08-2020, 01:55 PM)Byron LeftTown Wrote: OK, Khan wants to invest in a $500 million project near the stadium, in an attempt to boost revenue for the Jaguars.
How does this work, exactly? 

Let's say Shad builds a hotel next to the stadium.  How does that boost revenue for the Jags?  Will the team be selling $8 Pepsi to hotel guests?  It sounds like the stadium would be open as a commercial entity on non-game days.  Doing what, exactly?  Renting out space for yoga classes?  Do they think hundreds of people a week are going to want a stadium tour?

Then there's this idea that an NFL game can be hyped into a week-long destination event.  I wonder how the people who paid for the $1800 ticket/hotel package will feel when seeing game tickets hawked outside the stadium for $20?  Then they can enjoy a half-empty stadium in the broiling sun and a team getting blown out by halftime.

Why doesn't Shad just build a truck bumper factory next to the stadium?  It would certainly be profitable, but again I don't see how operating some other business adds to the Jaguars bottom line.

Tickets are no longer "hawked outside the stadium."  They are all electronic.
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#4

OK, it's the Jaguars making the investment and reaping the profit. So the project will be built with traditional funding, which is debt. So the small-market NFL Jags are going half a billion dollars in debt to build hotels. Got it.

Can somebody explain Lot J?
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#5

This is strange, since I read the O-Zone maybe once a month, but my question was asked and answered in today's column:

Marty from Jacksonville



John, could you explain how Lot J would increase revenue for the football team? What does a development like Lot J have to do with the football team? I don't get the connection.



Khan, and by extension the Jaguars, would be major investors along with Cordish Companies and the city. As such, they would get significant revenue from the projects.

It sounds like the 4 parties (or 3 parties if Khan and the Jags are the same thing) are taking on debt and risk for a project nobody asked for.  Luxury high-rise hotels when global travel is collapsing?  Another live venue for music acts?  Gee we only have the Auditorium, Metro Park, Daily's Place and a huge stadium there, so let's build another music venue.  Residential?  Will people pay extra to live next to an NFL stadium?  Why?

So 10 years and maybe $1B later, what do we have, a thriving "downtown" or some overpriced and underused buildings?
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#6

I have been pressing Ozone for weeks about how the Jaguars are supposed to generate revenue by this major project and he refuses to answer. The retail sales, hotel accomadations, and food industry sales will generate revenue for the state, county, and city, but how does that generate revenue for the Jaguars? Unles the Jaguars LLC are the lenders of the money to finance the project(s), or the owners of the buildings and or land and recieve revenue from leases by shop keepers, there is no direct revenue for the Jaguars. Mr. Khan will make a [BLEEP] pot full of money if the plan works, so it looks like these projects are simply designed to pad Mr. Khans pockets. The other major obstacle I question is who is going to spend enough time and money in these hi end shops to make them profitable year round?
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#7

(02-08-2020, 03:13 PM)Byron LeftTown Wrote: This is strange, since I read the O-Zone maybe once a month, but my question was asked and answered in today's column:

Marty from Jacksonville



John, could you explain how Lot J would increase revenue for the football team? What does a development like Lot J have to do with the football team? I don't get the connection.



Khan, and by extension the Jaguars, would be major investors along with Cordish Companies and the city. As such, they would get significant revenue from the projects.

It sounds like the 4 parties (or 3 parties if Khan and the Jags are the same thing) are taking on debt and risk for a project nobody asked for.  Luxury high-rise hotels when global travel is collapsing?  Another live venue for music acts?  Gee we only have the Auditorium, Metro Park, Daily's Place and a huge stadium there, so let's build another music venue.  Residential?  Will people pay extra to live next to an NFL stadium?  Why?

So 10 years and maybe $1B later, what do we have, a thriving "downtown" or some overpriced and underused buildings?

Sorry I have to keep throwing a flag on you, but global travel is not collapsing.  In fact, global travel is growing very fast and shows no sign of slowing down.
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#8

(02-08-2020, 04:17 PM)The Real Marty Wrote:
(02-08-2020, 03:13 PM)Byron LeftTown Wrote: This is strange, since I read the O-Zone maybe once a month, but my question was asked and answered in today's column:

Marty from Jacksonville



John, could you explain how Lot J would increase revenue for the football team? What does a development like Lot J have to do with the football team? I don't get the connection.



Khan, and by extension the Jaguars, would be major investors along with Cordish Companies and the city. As such, they would get significant revenue from the projects.

It sounds like the 4 parties (or 3 parties if Khan and the Jags are the same thing) are taking on debt and risk for a project nobody asked for.  Luxury high-rise hotels when global travel is collapsing?  Another live venue for music acts?  Gee we only have the Auditorium, Metro Park, Daily's Place and a huge stadium there, so let's build another music venue.  Residential?  Will people pay extra to live next to an NFL stadium?  Why?

So 10 years and maybe $1B later, what do we have, a thriving "downtown" or some overpriced and underused buildings?

Sorry I have to keep throwing a flag on you, but global travel is not collapsing.  In fact, global travel is growing very fast and shows no sign of slowing down.

No sign?  How about a global pandemic?  Get back to me in a month about that vibrant travel and tourism industry.
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#9

(02-08-2020, 04:52 PM)Byron LeftTown Wrote:
(02-08-2020, 04:17 PM)The Real Marty Wrote: Sorry I have to keep throwing a flag on you, but global travel is not collapsing.  In fact, global travel is growing very fast and shows no sign of slowing down.

No sign?  How about a global pandemic?  Get back to me in a month about that vibrant travel and tourism industry.

The virus is made in China. It's got about two more weeks before it stops working.
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#10
(This post was last modified: 02-08-2020, 06:12 PM by p_rushing.)

Lot J is about trying to copy the Patriots and build stuff around the stadium to keep people there year round. The problem is there are no reasons to want to live downtown. The 1 grocery store that I know of you couldn't pay me to go into.

The big issue Khan is forgetting the Pats were terrible and the stadium was empty. Then they started winning and kept winning. People didn't want to be there until after they were winning. Khan is trying to skip steps. Plus he can bring his bumper clients in for games and have them spend all the time at lot J and never leave and see the rundown areas around.
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#11

Khan needs to do his part and get a winning team before he calls out the fans for not being there. Who wants to see a Jag whooping every sunday?
[Image: mvp.avia8a99974486b2b89.md.png]
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#12

When you have at most 10 games a year, "fun places to go around the stadium" don't matter to the fans, and the fans won't matter to the "fun places."
Jacksonville certainly does not have enough "fun places." A lot of natural beautiful scenery that is blighted with abandoned or dilapidated buildings. We should all be glad someone is building some nice places.
Probably has nothing to do with the future of the football team, though.
My fellow southpaw Mark Brunell will probably always be my favorite Jaguar.
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#13

After more than a decade of parking in lot J for Florida Georgia, I have to find somewhere new to park...WTH!?!? Sad
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#14

They will not answer your question in detail as they are trying to get a casino/hotel next to the stadium
A new broom always sweeps clean.
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#15

All those Florida-Georgia week-long tailgaters partying under the elevated expressway...I guess now they'll be in a....multilevel parking garage? That should be fun, breathing car exhaust and burger smoke for a week in a dark garage.
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#16

(02-08-2020, 09:49 PM)Byron LeftTown Wrote: All those Florida-Georgia week-long tailgaters partying under the elevated expressway...I guess now they'll be in a....multilevel parking garage?  That should be fun, breathing car exhaust and burger smoke for a week in a dark garage.

It's time for that thing to end anyway.
“An empty vessel makes the loudest sound, so they that have the least wit are the greatest babblers.”. - Plato

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#17

(02-08-2020, 11:17 PM)flsprtsgod Wrote: It's time for that thing to end anyway.

The Florida-Georgia game or parking garages?
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#18

(02-09-2020, 11:21 PM)Byron LeftTown Wrote:
(02-08-2020, 11:17 PM)flsprtsgod Wrote: It's time for that thing to end anyway.

The Florida-Georgia game or parking garages?

Both?
“An empty vessel makes the loudest sound, so they that have the least wit are the greatest babblers.”. - Plato

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#19
(This post was last modified: 02-10-2020, 09:31 AM by The Real Marty.)

Okay, here's the explanation for Lot J.   

Lot J is a project that should stand on its own, but the pitch to Jags fans is that having NFL football right next to Lot J will juice up the businesses in Lot J when there is a game going on, and that the additional revenue Lot J receives on a football weekend will be as much as the additional revenue the team gets from a home game in London, thus inducing Khan to bring all the home games back to Jacksonville.  Because Khan will be probably the biggest investor in the Lot J project.

On the other hand, Gene Frenette told me in an email that the additional revenue Khan gets from a London game is an extra 8 to 10 million dollars.  In my opinion, that is quite a hurdle to climb for Lot J to beat that.  

[I'm not name-dropping Gene Frenette.  I don't know him.  I emailed him my opinion about the home games moving to London and he was nice enough to email me back.]

I think Khan is asking for about $230 million from the city.  Someone, hopefully someone on the city council, needs to do that math and see if this all makes sense financially not only for Khan but also for the taxpayers.  It can't all be dollars and cents, though.  Some things in life don't make sense financially, but you just want them.  Like an NFL football team.
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#20

If it's about getting people to spend thousands attending an NFL game, there's no way it will work. Do they really think people will stay 3 nights in an expensive hotel, attend a music concert and buy 6-10 restaurant meals, to see the Jags play?
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