01/10/2022
The Jacksonville downtown market is hot hot🔥🔥. Here is a a quick overview,
The Doro- a 7 story multi family 247 units with a rooftop pool, mixed use on ground level. Estimated cost $65 million, estimated completion Dec 2022. They have already started the substructure.
The Shipyards by Shad Khan- finally approved and estimated completion 2025. This project consists of a Four Seasons hotel, luxury condos and mixed use of office and retail. First phase just under $500 million
Laura Street Trio by Stephen Atkins Southeast Group- this project consists of a 5 star restaurant surrounded by a boutique Marriot Bonvoy Autograph collection, project estimated cost $250 million, estimated completion 2025. They have recently added an additional 166 unit multi family to the mix.
Emerald Trail Master Plan-30 mile network of bicycle and pedestrian trails that will connect downtown with 14 historical neighborhoods, 18 schools, and 30 parks. Estimated cost $30 million
FIS Headquarters-Almost completed, bringing 1,800 employees to downtown/Brooklyn. This project consists of 12 story office/parking, estimated cost $145 million.
JEA Headquarters- this property is located on Adams st next to the courthouse, estimated cost $72.2 million, nearing completion.
Vystar parking garage-this property consists of retail space on the ground floor and 780 parking spaces. Estimated cost $22 million, estimated completion 2023
One Riverside Ave- this project consists of mixed use retail, office, restaurants, and apartments. This project is in the former Times Union Building. Estimated cost $182.2 million
Residences at Barnett-completed 2020 by Stephen Atkin-Southeast Group and Danis is already 💯 occupancy and prices were raised to meet demand. Completion costs $53 million
These are the double digit million dollar projects, there are quite a few single digit million dollar project in the works as well. There are many more on the horizon, Ford on Bay is currently reviewing bid and development ideas. Estimated costs are said to be close to $500 million.
Residential is following suite, the Urban Core-Springfield is taking off as well. Tear downs/full renos within the historic area 4 years ago were ranging $30-40k are now going for around $120-140k after rehab ranging $350-600k. Outside the historical full rehabs were ranging anywhere from $8-20k are now going for $50-$80k after rehab ranging from $250-$350k. Vacant lots were $3k for a 3,000 sqft lot are now going for $30-40k. We haven’t even hit halfway of where the core is going.
Go Jacksonville 🙌🏼
