Jacksonville Path of Progress

16 Replies

Where do you believe the path of progress is heading in the Jacksonville metro?  Where is the market moving towards and where are the best places to invest?

@Sean Pan I believe we are going to hear about the Shad Khan investment in early 2018. The explosion of Downtown, "Shipyards area", "District area" (on southbank) and other projects in and around the river front in downtown will be great factors for downtown growth. 

The bus terminal was shut down, and plans are being made for a new multi terminal for bus and rail in downtown. Also plans to develop the old newspaper site (18 acres of riverfront). Lots going on downtown. 

Town center continues to expand with a new IKEA as well as new apartments up and down FL-202. St. Johns County continues to grow, but Nassau County, to the north is where St. Johns was 5 years ago. So many new developments in Nassau and Yulee. St. Johns was the fastest growing county in Florida for many years. There are opportunities all over Jacksonville. 

Thanks @Jack Bobeck . What is your opinion on the west side (near the 10 and 295 intersection)? I know it's mostly filled with blue collar workers. Is there anything to suggest that that area will start to improve as well?

interesting @Jack Bobeck thanks for sharing.

If down town is mooving in to the right direction I would think that the east side of CBD called Urban core will follow.

What's your take on that? 

Many local investors I talk to saying that Urban Core 32206 is going nowhere.

And Springfield is rough as guts.

Thoughts? 

@Sean Pan - There is a lot of land out there and the family that sold the land to the developers around Town Center has been buying up and down I-10 for a while now. At some point development will come out there too. The issue is that the good jobs, 50, 60, 70k are downtown to the Southside, so its a brutal drive in on I-10 or 295 to the southside, so people want to live close to where  they work. I know there are pockets out 103rd street or Normandy, good developments, but they are few and far in between. What may help is when FL-23 is connected to I-10 south around Clay County and to I-95. Roads always open up more development. The road is somewhat complete, but the bridge over the St. Johns River is a "funding" issue and ultimately is years away from completion. Still Oakleaf continues to grow and expand. 

@Hadar Orkibi I look at Springfield as 12 streets, 1st - 12th and really bounded east west by some core streets or railroad tracks. There are gorgeous homes there, but most were built around 1900. So you have these homes that are over 100 years old and need work, lots of work. Some were converted in the 40s to multifamily, to compensate for the men overseas due to the war and wives needed more income. Here is a page on my wife's real estate website about Springfield, you might find helpful, showing homes in price ranges. My dad had a house on Liberty street he almost went broke with fixing and selling. I remember as a kid in the 80s going to it, the area then was rough and downtown was still downtown. Its a tougher area, surrounded by lots of zip codes that are some of the poorest in the area. I have a link to zip codes and their value if you want to PM me, I'd be happy to send to you. 

@Jack Bobeck , interesting to hear about the development happening in Jacksonville. I invested there a couple years ago and thought the waterfront area had a lot of potential. The Jacksonville market seemed very undervalued at the time.

@Joseph M. Jacksonville, like many cities, is trying to land Amazon H2. Their presentation was out of this world with space right on the river in downtown. Shad Khan, owner of the Jaguars and the richest owner in the NFL with a net worth of over 6 billion was willing to work with Bezos to make this happen. He too wants to develop the same space and turn it into a city within a city. Either way, citizens cannot lose. It will happen. Even Kraft, owner of the Patriots, is rumored to want to partner with Khan on the development. The goal is to host an NFL draft as well as future super bowls as the development will add many thousands of rooms for hotels. The little city is poised to turn a corner. 

Jacksonville is definitely up and coming. I am a native and love living here and investing here..BUT 1. there's not enough to lure Amazon headquarters...everyone who lives here knows this 2. 32206 and the Springfield rebirth is a failure...4-5 nice streets in that area and the other 200 streets is just crime ridden areas... 3. the westside will explode in the next 4-5 years...excellent area to invest in, people will make the drive no problem 4. I see Jax continuing to be a great place overall to invest in and will stay mostly a blue collar dominant city. thoughts?

@Sean Pan

@Jack Bobeck Is spot on. I think RE professionals in Jacksonville have been bullish and seen the opportunity downtown for a quite some time but really needed some leadership to come in and jolt the city awake. Shad hopefully is exactly that. The rebirth of the Riverside/Avondale (zip: 32204) area is bound to bleed into downtown. Regardless of what Amazon does with H2, they are clearly bullish on Jax as well, as they just built a HUGE distribution center off 295.

Jaxport has won contracts from several huge companies such as Disney. Jobs continue to flow in. It's hard to find an area in Jax that is not trending upward, but my personal favorite areas are downtown, Nocatee (in St. Johns), and Riverside. I work in the Jacksonville Beaches and St. Augustine. It's hard to find flips in the Jax Beach markets, but the upside is tremendous if you can find one. The properties I have listed in JB last an average of 12 days before getting under contract.

Sean, I see that you're from California, and there are some hot markets out there for sure, but I believe your looking in the right area in Northeast FL.

Best of Luck!

This article is interesting. Apparently 55 percent of property downtown Jacksonville is owned by the government. Lots of vacant land available to develop . When i was there and investing there I noticed the same thing .

Seemed unusually for their to be so much land available in or near the downtown area of the 12 largest city in America .

The article also links to the 40 page study that was done . Didn't read it yet but plan to .

Study: Downtown Jacksonville Filled With 'Abundant Redevelopment Opportunities'

http://news.wjct.org/post/study-downtown-jacksonville-filled-abundant-redevelopment-opportunities

short and sweet the Springfield area is just too close to high crime areas imo and it is a hit or miss from one street to the next. 1 Street will be nice and the next will be dangerous and ran down.

I have lived here since 2004 and it has been “up and coming” since then.  I personally work downtown Jax.

I have a friend there. The up and coming area is a good place to invest if not in the high crime area.

I probably need to visit my friend there and do more research re: best neighborhood to invest. I wonder if closer to downtown is better. Thanks for your helpful input. Florentina

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