Newspaper article The Florida Times Union

Fidelity Plans to Expand Riverside Site

Newspaper article The Florida Times Union

Fidelity Plans to Expand Riverside Site

Article excerpt

Byline: Karen Brune Mathis, Times-Union senior business writer

Fidelity National Financial Inc. intends to develop a six-story, estimated 168,000-square-foot office building and a parking garage at its Riverside Avenue campus as it relocates its California headquarters to Jacksonville -- and then expand as needed to include possibly three more buildings and two more parking garages.

Fidelity acquired the Riverside property as it bought the financial services division of Alltel Corp., which included the Alltel Information Services business and campus property at 601 Riverside Ave.

The site now features the 13-story, 334,000-square-foot Alltel building completed in 1994 and three other smaller buildings.

In addition to the six-story office building, Fidelity wants to build a four-story, 800-car parking garage and a 175-space surface parking lot in the first phase as it relocates 250 executives to Jacksonville and hires 500 people locally over the next several years.

While plans are flexible, Fidelity, which won initial approvals yesterday for up to $12.525 million in state and city incentives, reported that it also might need:

-- To expand that initial six-story building into a 19-story, 532,000-square-foot structure.

-- To replace the three smaller existing structures with a 10-story, 280,000-square-foot building.

-- To add a 47,000-square-foot data center building that also provides 950 parking spaces.

-- To build a seven-story parking garage with 2,850 spaces.

Across Riverside Avenue, Fidelity also might build:

-- A 10-story, 200,000-square-foot building.

-- A seven-story, 1,300-space parking garage.

-- And a pedestrian bridge above Riverside Avenue to link the developments.

Al Stinson, Fidelity chief financial officer and executive vice president, said yesterday that there was no timetable to develop the campus after the first 168,000-square-foot building. …

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