A hotel and restaurants for Neptune Beach’s old Kmart, Fitch downgrades JTA, and Fleet Landing’s tower would be mostly taxable

A hotel and restaurants planned for Neptune Beach’s old KmartTriBridge Residential wants to tear down the former Kmart at 500 Atlantic Blvd. and build Town Center West, a project its attorney Steve Diebenow says should cost more than $100 million. The plan calls for a 150 room boutique hotel, two one story restaurants, and two story office and retail buildings. It still needs variances and development plan approval, then about 9 to 12 months of design and permitting. The Kmart closed in 2016, and earlier plans, including a Walmart, fell through. Source: Jax Daily Record, Oct. 26, 2026

Fitch drops JTA’s credit rating two notchesFitch Ratings cut the Jacksonville Transportation Authority from AA+ to AA minus, skipping the AA rating on the way down. CFO Randall Barnes told a City Council committee on Oct. 23 that the rating isn’t tied to any of JTA’s debt, so borrowing costs won’t change right away, but it hurts the authority’s reputation with investors. JTA ended fiscal 2025 with an $18.9 million shortfall and has announced service cuts and nearly 200 layoffs. Source: Jax Daily Record, Oct. 23, 2026

Fleet Landing’s Northbank tower would pay taxes on most of the projectEven though Fleet Landing is a not for profit, a Downtown Investment Authority staff report says most of its planned 31 story retirement tower at 111 Riverside Ave. would be taxable, including 238 independent living units, the parking garage and the land. Only 28 assisted living units and 18 memory care units were treated as tax exempt. The $49.27 million tax rebate the DIA board approved Oct. 21 now goes to City Council. Source: Jax Daily Record, Oct. 26, 2026

A school, a truck stop and a gun range top Monday’s permitsCornerstone Classical Academy got a $670,000 permit for new bleachers at 2360 St. Johns Bluff Road S., with Auld & White Constructors as contractor. Pilot Travel Centers is adding four charging stations at 4075 Jones Branch Blvd. for $200,000, and Jacksonville Clay Target Sports is installing an International Bunker Trap and Skeet range at its New Berlin Road site for $50,000. Source: Jax Daily Record, Oct. 26, 2026

Pusser’s in Ponte Vedra Beach becomes Craig’s Beach HouseThe lakefront restaurant at 816 Florida A1A N. is being renovated and renamed, with an expanded menu, new cocktails and an upgraded sports bar setup. Former National Restaurant Association chairman Craig Miller is leading the change with Pusser’s owner Gary Rogalski, and the restaurant is expected to stay open during the work. Source: Jax Daily Record, Oct. 23, 2026

An $11.8 million oceanfront sale leads the weekThe week’s top home sale was 1117 Ponte Vedra Blvd. in Ponte Vedra Beach, an 8,474 square foot house on 1.37 acres that last sold for $6.4 million in 2015. Next on the list were 141 35th Ave. S. in Jacksonville Beach at $3.495 million and 5300 Chandler Bend Drive in Jacksonville at $3.15 million. Source: Jax Daily Record, Oct. 26, 2026

VyStar names a new chief risk and compliance officerKatie Averill joins VyStar Credit Union on Nov. 2 to lead risk management, compliance and anti money laundering, reporting to Chief Legal Officer Lance Davies. She comes from Iowa, where she has served as the state’s superintendent of credit unions since 2017. Source: Jax Daily Record, Oct. 23, 2026

JaxBP holds its fall educational gathering tomorrow at UNFJacksonville Business Professionals, a nonprofit network of about 100 accountants, attorneys, lenders, insurance and HR pros, marks five years this year. Its Fall 2026 Educational Gathering is set for Oct. 27 at the University of North Florida, with panels on relationship building and on operations and profits. Source: Jax Daily Record, Oct. 26, 2026