New Infrastructure and Development in Jacksonville, Florida
There is significant debate in Jacksonville about the benefit that the recently proposed Shipyards could bring to the city and surrounding areas. I want to solicit the feedback of the bigger pockets community to see what your thoughts are regarding downtown development, infrastructure spending, and their possible impact on real estate and real estate investors. For those of you not familiar with the Jacksonville market these two links highlight the proposal recently brought to the city by Shad Khan - owner of the Jaguars and someone who has been keen on investment there since our new mayor opened the city up for investment and development.
http://www.bizjournals.com/jacksonville/news/2015/...
http://www.bizjournals.com/jacksonville/news/2015/...
The plan includes commercial space, residential space, retail space, hundreds of boat slips, public parks, an amphitheater, and dock space for the USS Adams to become a museum. Additionally, another developer has proposed a large aquarium near this development. We currently have a few SFR's in the suburbs and wonder what a project like this means for the future of the local market.
- Since these are currently just proposals, is the significant upside potential of growth in the city worth buying SFR's in the suburbs now with the hopes that the city will draw new interest for those looking to relocate to FL?
- As a small investor would you attempt to invest on the ground floor (or as close to the ground floor as is allowed) in some of the new residential space being proposed in the Shipyards?
- What are the potential negative effects of a project of this scale on a small city like Jacksonville? What are the potential risks for small investors?
- For those of you who are investors in Jacksonville - what are your thoughts regarding the project and its relationship to your local business?
I understand that there are some obvious answers to these questions - but my experience with the BP community it that there are always robust conversations around those answers and many contributions that were not so obvious at first glance. Thanks everybody.