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People who live and work downtown often want to know why things aren’t better. Why aren’t there more restaurants, shops, services and places to gather along our beautiful St. Johns River? Visitors to Jacksonville from out of town and other states (particularly successful, sophisticated developers) often ask why Jacksonville hasn’t tapped into what they see as obvious opportunity and potential.  

The reality is that downtown Jacksonville does have more to offer, with more on the way. VyStar’s new campus, Vista Brooklyn on Riverside Avenue, Hardwick’s on Adams Street and the amazingly revamped Friendship Fountain on the Southbank are just a few recently completely downtown projects. Each of these also happen to be finalists for Urban Land Institute North Florida’s Awards for Excellence. 

The list of downtown projects currently under construction, permitting or planning is inspiring. Riverfront Plaza is being built while millions have been secured for its sister riverfront parks. In 2024 alone, eight new restaurants have been approved through our food and beverage retail enhancement program.  

Here's how the Downtown Investment Authority turns renderings into reality for Jacksonville

Jacksonville has the second-hottest job market in the country, according to an analysis from The Wall Street Journal and Moody's Analytics — jumping three spots from the area's No. 5 showing last year.

This is the fifth year the newspaper has conducted the analysis, which ranks areas based on unemployment rate, labor force participation rate, job growth, labor force growth and wage growth. This year's ranking is based on 2022 data.

The First Coast came in only behind Salt Lake City in the study and led a slate of other Sunshine State metro areas, with Orlando at No. 3, Tampa at No. 4 and Miami at No. 6. Oklahoma City squeezed in at No. 5.

While Tampa and Miami both outclassed Jacksonville when it came to wage growth, and Austin had the largest labor force participation rate, Jacksonville led the country's large metros in the increase in the size of its labor force.

Jacksonville's strong showing is a result of companies ranging from corporate offices to warehouses relocating from the Northeastern corridor to Jacksonville, the Wall Street Journal said.

VIEW ARTICLE HERE

JACKSONVILLE, Fla. – The City of Jacksonville, Groundwork Jacksonville, and Jacksonville Transportation Authority (JTA) hosted a press conference to give more details about the $147 million federal grant awarded for the Emerald Trail.

Getting the grant from the U.S. Department of Transportation wasn’t easy as 682 cities applied and 132 were selected. Jacksonville received the sixth-highest grant amount.

Local option gas tax dollars will be used to provide a match of $36.65 million approved by the city council.

Kay Ehas is the CEO of Groundwork Jacksonville, the team behind the Emerald Trail project. Five years ago, the city council adopted the master plan for the trail. Ehas said the new funding is a major victory for her and the team.

READ FULL ARTICLE HERE

While Downtown observers have heard it for years, developers say this time, it’s real.

They say you won’t recognize Downtown in three to four – maybe seven – years. That it is at a tipping point in development and attracting residents and capital investment.

That Jacksonville is 20 years behind Tampa’s resurgence, but it’s time is now.

They say it’s real because they all are working together and that the city is, too. They used the words “collaboration” and “harmony.” 

Another common word is “intentionality.”

They cited the need for “passion” for development, especially historic redevelopment with its unexpected discoveries after work starts.

Of course, they said, the key is to make a development deal “pencil” – or make financial sense to lenders and investors – and that is where the city and the Downtown Investment Authority factor into the equation by granting incentives.

A panel of five developers headlined the Bisnow “Urban Resurgence: Exploring Commercial Real Estate Developments in Downtown Jacksonville” discussion Feb. 29 at the Southbank Hotel Jacksonville Riverfront.

Four of them are active Downtown developers and the recipients of DIA incentive agreements.

Gunster shareholder Julia Holden Davis moderated the panel. 

Bisnow, a Washington, D.C.-based digital media company that reports about the commercial real estate industry and sponsors events, hosted the “Jacksonville State of the Market Urban Resurgence, Investment Insights, & Infrastructure Innovations” event.

The Downtown panelists comprised Alex Sifakis, president of JWB Real Estate Capital; Bryan Moll, CEO of Gateway Jax; Billy Zeits, vice president of government affairs with Corner Lot; Matt Marshall, senior vice president of Rise: A Real Estate Company; and Ken Thomas, project executive of Catamount Constructors Inc.

The Downtown discussion was the first of three panels, with the others covering investment trends and community impact.

Read the full story at the Jacksonville Daily Record.