260 Unit Downtown Pensacola Developmemt

[Jay Helms]

Pensacola Investors - how does this downtown development affect your investing strategy? 

http://pulsegulfcoast.com/2016/04/downtown-pensaco...

[Michael Garrison]

Originally posted by @James DeRoest:

I think it's great. I'd love to pick up a few more properties to the west of this development, south of Jackson, north of Garden. There is already a slow but noticeable gentrification going on, moving very slowly from downtown towards Pace along that Garden-Jackson corridor of subdivisions.

 James Is so right here. The gentrification is very much in full force and there are some great properties to be rehabbed. There are some others that need to go away. I see it bringing a much needed tax base  as well. Yes, he gets out on property tax for a bit but the influx of cash that will be spent in the down town area is going to skyrocket. So I think that will offset any property tax that is not paid. The entire area should thrive behind this project. I'm hoping the traffic issues don't get to bad. Maybe it alleviates some of It. Guess we will see.