Newspaper article The Florida Times Union

Citigroup to Start Building New Center

Newspaper article The Florida Times Union

Citigroup to Start Building New Center

Article excerpt

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

Citigroup expects to break ground in October on its proposed $93 million Southside operations center.

City reviewers have been studying site plans for the 541,000-square-foot complex planned on 81.76 acres in Flagler Center, south of St. Augustine Road, between Philips Highway and Interstate 95.

Those plans show three connected three-story, 171,999-square-foot buildings and a 25,000-square-foot cafeteria. King Engineering Associates Inc. is the project engineer for the paving, grading and drainage plans under review.

Citicorp Credit Services Inc., part of New York-based Citigroup, announced plans in March to build the center to open in March 2005. It will be a Citi Cards operation that provides and services credit cards and will relocate from 600,000 square feet of space among several buildings it owns or leases in Deerwood Center, north of Baymeadows Road between I-95 and Philips Highway.

Citi Cards spokesman Bruce Reid said yesterday the contractor has not been chosen.

In March, Citigroup said it expected to break ground by August, but Reid said the project is a major one. Large projects typically require more intensive reviews.

Citi Cards intends to move its 3,400 workers to the center and hire at least 400 more within three years of opening. To help, the Jacksonville Economic Development Commission approved a $2 million road fund request to the state to help build a 1.2-mile four-lane road from the site to Philips Highway.

AEGIS LANDS: Aegis Funding Corp. has leased space at the Belfort One building in Belfort Park in Southside to set up its operations center about Oct. 1.

Patricia Wente, vice president of corporate communications with Houston-based Aegis Mortgage Corp., the parent company, said Aegis will use 18,400 square feet of space at the 7751 Belfort Parkway office. …

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