Why is residential development downtown so slow?

[mwfsu84]

I know, I know, there is a decent size list of new residential developments coming downtown. And every one of them that has started selling/renting units, is either close to occupancy, or ahead of projections.

I'm a native and cheerleader for the Jacksonville area, so my opinions may be biased. But it seems to me like the demand for more housing downtown is greater than many of us realize. You'd think developers would catch on too.

The sales figures don't lie: people want to live downtown. Who can blame them? Downtown Jacksonville has a beautiful river, and a lot of untapped potential.

I'd love to see a 750 foot condo high rise. Sort of bummed by this Riverpointe downsizing.

[RiversideGator]

I agree. I also think the demand for rentals downtown is very high considering that almost every rental unit available, that I am award of, is rented. I also wish we could get a 750 footer. Maybe they will still surprise us.

[asonj23]

It seems that once a few of these developments under construction are established the real boom will start. Downtown living in Jax is still an untested market and just needs a few developments to take the plunge and boast their success before others will risk it. I say in 2-3 years we will see a much larger list of developments going vertical.

Watch out Miami, here comes Jax!!

[Urban_Legend]

It won't seem as slow, once we see some results. Right now, alot of stuff is still tentative, planned, proposed, or waiting for the city to get its act together.

Soon, you'll see the towers rise, most of them on the southbank. Also, Berkman is 80% sold, and seriously getting ready for Phase II. Then we'll have the big, "anchor-store" projects: Shipyards and JEA site.

[FLORIDA SKYRISE ORDER]

It won't seem as slow, once we see some results.  Right now, alot of stuff is still tentative, planned, proposed, or waiting for the city to get its act together.

Soon, you'll see the towers rise, most of them on the southbank.  Also, Berkman is 80% sold, and seriously getting ready for Phase II.  Then we'll have the big, "anchor-store" projects: Shipyards and JEA site.

<{POST_SNAPBACK}>

Things are on the move in Jax; and I applaud and laud the fact that FINALLY things are moving; however, Miami is light years ahead of Jax and I believe we will never even approach that scale. You have to have something downtown or in the target market/area in order to spur huge developments, proposals, etc.; and Jax just doesn't have a huge spark right now. There is a spark, though small, but not large enough to incite building projects in the number, size and scope of Miami's. However, the current projects on the drawing board, as someone said, should spur other and more developments to follow suit; and then we should be able to stand up to cities like Orlando, Tampa, etc. development and project-wise.

It's good that Jax is not standing still as it did in the 1970's, 80's, and 90's, but building up and out!

FLORIDA SKYRISE ORDER

[afh]

There is a spark, though small, but not large enough to incite building projects in the number, size and scope of Miami's. 

FLORIDA SKYRISE ORDER

<{POST_SNAPBACK}>

What is happening in Miami has been going on for the past 30 years. It did not happen overnight and I would say that in the last 5 or 6 years the building boom has started to really pickup down there. What is happening in Tampa, Jax and Orlando is more recent so it will take the same 30 years that it took for these three cities to reach what is going on in Miami today.

The spark starts small but gets bigger over the course of years and years.

[cracklow]

Is there some sort of weird attachment to height going on here? Low rise high density residential with people living in it I think preferable to high rise high density with empty units or owned only by investors. I'm just crazy, I don't think Jacksonville's answer to downtown is towers right now.

[Urban_Legend]

^I agree, I prefer a good streetscape to an impressive skyline. I love mid-rise urban neighborhoods, their so much more lively IMO.

But there are some highrise towers that can have good street interaction; unfortunately, Jax hasn't seen too many of those....

[RiversideGator]

Is there some sort of weird attachment to height going on here? Low rise high density residential with people living in it I think preferable to high rise high density with empty units or owned only by investors. I'm just crazy, I don't think Jacksonville's answer to downtown is towers right now.

Cracklow: I would like to see both low rise high density and highrise high density and have people actually residing in the units as opposed to investors. I think we can and should do both in downtown. There is no reason the skyline cant be improved though as long as activity downtown is enhanced, is there?

[Captain Obvious]

Right now we probably have better hope of highrises than urban lowrise and midrise ... slow as the highrise development may be.

Downtown landowners are simply asking too much for their property. Most empty sites seem to be for sale at well over $1 million per acre. Certain areas like Brooklyn and LaVilla might be prime for lowrise, but the CBD and southbank are probably highrise only for the prime properties.