Earlier this year, I shared my thoughts about turning downtown’s potential into action. The recently released 2017 State of Downtown Report demonstrates these actions.
There were $3.5 billion in projects that were completed, proposed, or under construction in 2017. That total is approximately $1 billion higher than the last 17 years combined.
There are other highlights in the report, including:
- Housing in downtown Jacksonville is growing. The occupancy rate for residential units was 96 percent.
- More than 900 residential units were under construction in 2017, and 2,400 more were proposed.
- Demand for office space was also high, with the lowest vacancy numbers since 2000.
That momentum is continuing this year with the proposed development at the stadium’s Lot J, the Shipyards, the work underway at the Barnett Building and Laura Street Trio, and the recent sale of the long-neglected Berkman II, with plans to convert it into a hotel, family entertainment center and parking garage. Local colleges and universities are expanding into downtown, with FSCJ building dormitories on Adams Street, Jacksonville University creating a downtown campus, and UNF building a satellite campus for its business school.
To put it simply, downtown is emerging. We’re attracting big investments in our urban core that will benefit our entire city. We must continue actions that will create the vibrant hub our citizens deserve.
Read the 2017 State of Downtown Report