Newspaper article The Florida Times Union

Morning Briefs

Newspaper article The Florida Times Union

Morning Briefs

Article excerpt

LAND PURCHASE COMPLETED FOR CSX TERMINAL

A company affiliated with CSX Corp. has completed the purchase of 318 acres in Winter Haven that the Jacksonville-based railroad hopes to use for an intermodal and automotive terminal.

The property, purchased by Evansville Western Railway Inc., is slated to become part of a 1,200-acre parcel where CSX is planning a 5 million-square-foot logistics center. However, the company has faced opposition from nearby residents, who dispute CSX's claims about the job creation and tax income benefits of the terminal.

The center will allow the relocation of freight traffic from rail lines lines that will be turned into a commuter-rail corridor centered on Orlando.

A Development of Regional Impact review will be conducted to evaluate the effects of the terminal on the region.

Timothy Gibbons/The Times-Union

GROUNDBREAKING NEXT MONTH ON BROOKLYN PLAN

Brooklyn's first mixed-used community is on track for an October groundbreaking, its developers have announced.

Miles Development Partners gained City Council approval Wednesday for its $250 million Brooklyn Park project.

The complex will have 800 apartments, a boutique hotel and 50,000 square feet of retail to include a gourmet grocery store by its 2012 buildout. A one-acre park will sit in the 12.5 acre community bordered by Riverside Avenue, Park, Jackson and Leila streets.

Liz Flaisig/The Times-Union

3COM AGREES TO BUYOUT BY PRIVATE EQUITY FIRM

Network equipment maker 3Com Corp. is giving up its independence in a $2.2 billion buyout by Bain Capital Partners, but it's gaining freedom from the whims of the market and a chance to expand in China.

The cash deal announced Friday also gives Huawei Technologies, China's largest manufacturer of telecommunications equipment, a minority stake in the technology pioneer - something that could improve its prospects in Asia and raise eyebrows in Washington. …

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