Video from the night of the fire shows towering flames and heavy smoke pouring from the building. Footage taken two days later reveals the extent of the damage, with nearly all residential units destroyed. Months later, reconstruction was already underway. Now, the building is once again ready to open its doors.<\/p>\n
RISE Real Estate CEO Greg Blais said the fire is something he will never forget.<\/p>\n
\u201cI remember being awoken that morning to text messages and voicemails early in the morning and seeing our building on the news in flames, and I thought, I was like, this can’t be happening,\u201d Blais said.<\/p>\n
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The fire broke out five days before tenants were expected to move in. The $60 million project was heavily damaged, though parts of the structure were able to be saved.<\/p>\n
\u201cAll of the concrete structure, which included the garage and the podium, was intact and salvaged. All of the wood frame structures, so all of the units, had to be rebuilt,\u201d Blais said.<\/p>\n
The rebuilding process was supported by public funding. Prior to the fire, city officials say the RISE received $5,751,559 million from the Downtown Investment Authority through a REV grant. After the fire, that amount increased to $11,450,000. The RISE also received an additional $1 million emergency rapid response grant and a $3 million city workforce housing completion grant, both provided by the City of Jacksonville.\u00a0<\/p>\n
Blais said rebuilding the property came at a much higher cost than originally anticipated.<\/p>\n
\u201cThe rebuild was certainly more expensive than the original one. If you think about the impact of COVID and the increase of construction costs while we were building the first Doro, things increased significantly during that time frame,\u201d said Blais.<\/p>\n
Two years later, the RISE Doro is nearly ready to welcome residents for the first time. The leasing office and common areas are already open, and move-ins are expected to begin soon.<\/p>\n
\u201cOur leasing office and common areas on the ground floor are open, and we’re actively leasing,\u201d Blais said.<\/p>\n
He said the first phase of residential units is expected to open within weeks.<\/p>\n
\u201cOur first phase of residential units will open in the next few weeks, middle of February, I’ll say. And then we anticipate sometime in, say, late April, first of May, the entire building to be occupiable and have its certificate,\u201d Blais said.<\/p>\n
Blais also said discussions are ongoing to secure tenants for the first-floor restaurant space and rooftop bar, but no agreements have been finalized.<\/p>\n