JACKSONVILLE, Fla. – Downtown Jacksonville is growing thanks in large part to commercial and residential investments made prior to the coronavirus pandemic.
That’s according to the 2019-2020 State of Downtown Report, the latest in a series of studies released by Downtown Vision, Inc., a nonprofit agency focused on economic development in downtown Jacksonville.
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The study covers a period stretching from January 2019 to June 2020, but the data it examined was collected most before the pandemic found its foothold in Florida.
Here are the key takeaways:
- From residential to office, retail to parks and trails, infrastructure to medical, nearly $3 billion in projects are currently under construction.
- The number of residents living downtown has also increased to more than 6,100.
- The number of multi-family residential units downtown has grown to more than 3,800.
Downtown Vision, Inc. attributes the growth to new additions such as the Jacksonville Transit Authority’s new regional transportation center, new construction such as the Barnett, the Ambassador Hotel, the Independent Life Insurance Building; and the ongoing revitalization of downtown’s riverfront.
“Pre-pandemic, Downtown Jacksonville was growing rapidly,” Downtown Vision CEO Jake Gordon said. “Despite the severe impact on many businesses, major construction continues and the stimulus support is helping. The public and private sector are pulling together to keep Downtown growing. And as we recover, the more successful our Downtown is, the more competitive we are as a city, the more talent and jobs we recruit, the more our city thrives, and our tax base grows to fund even more improvements all our residents deserve.”
To learn more or to view the complete 2019-2020 State of Downtown Report, visit Jax Chamber’s website or view the embedded document below: