Heads out of sands? This is not a lot of construction activity, historically for the market/submarket or relative to similar SE metros right now. This is not an edge city by real estate industry standards. The vast bulk of Jax activity is occuring there on the SS right now, but it's not a lot of "REIT" capital. Jax is still a value-add and opportunistic town attractive to retail and a smidge of institutional capital playing in the value-add/opportunity/smaller than gateway market arena. FL as a whole outside of SoFla is not attractive to most debt/equity due to lack of stable or quality job growth, which is the key drive of multifamily development.
Jacksonville is fortunate to have Mayo, an expanding research hospital group with a campus in Jax that benefits from warm climate (but falls prey to lack of direct air connections). However, MOB is like multifamily right now in that demand is high, debt is attractive and available, credit name-brand hospital groups are backing, and yet there is no MOB market in Jax. It's still all public/private hospital development competing in the same queu for regulatory approval and some degree of public financing, which tells me that the metro is behind the times and lagging there, too.
And industrial growth? Don't pay much attention, but haven't seen any FL cities in the headlines, which tells me that bets are off even with port expansion projects. Hotel growth? Jax not a tourist city, no CC expansion (which is driving most countrywide booms right now despite the headlines on this site that convention business is apparently going away). Retail growth? Simply there to serve population growth, but the market doesn't seem to be advancing as a bright spot whereby capital can chase disposable income growth, retirees, tourism, etc etc. IOW Nordstrom isn't arriving because Jax became wealthy and a higher per capita spending town (or spending/income growth town), it's arriving because Jax is now over 1.5 million people and more in the region with no Nordstrom, an expanding brand with access to incredible and cheap capital and more flexibility in catering stores to areas (not to mention the best land for retail in the city is still cheap...you can't find land like that around the SJTC for as cheap in Nashville or Orlando or Raleigh or Charlotte).
There is no potential for the SS to resemble Rosslyn-Balston, or any other significant edge city (at least for decades to come). Rosslyn-Balston is literally 1.5-3.5 miles from the heart of DT DC, the 3rd-4th largest and arguably one of the top 5 most attractive CBD investments in the country (where above market GSA leases and priced out credit tenants get pushed to nearby edge cities such as in that corridor or Montgomery County, MD).
Until Southpoint forms a cohesive plan and Southpoint landowners join to form a strong BID or CID, nothing will be done to shape the area into a new-urbanist suburb (aka edge city in the industry mold/standard). Right now it's simply the ok side of town, much like East Memphis/Germantown, or south Nashville into Williamson County, or the north side of Orlando into Seminole County/Altamonte Springs (but not even there yet), etc etc. In other words, it's merely the "good side of town" where businesses and residents can locate safely, but it's not anywhere close to resembling an "edge city" that functions as a CBD away from a CBD.
Another good edge city example is Buckhead in Atlanta, which is 5 miles from Midtown and 6-7 miles from downtown, and is nothing more than a prestigious vertical suburb with a degree of walkability. What makes it so desirable to certain firms is its emphasis on acting as the hub for FIRE firms in the SE. What's becoming more and more important in CBDs and edge cities/submarkets across the country is specialization. It's very important to have certain cohesive industries lumped together. Some cities such as NYC, SF/Bay, and Boston have done this for a century, automatically. Other cities such as Atlanta have adapted to this style for ~20 years now. It will be an important factor in developing edge cities, submarkets, and CBD districts going forward. Jax does not have this (it's frankly too small, but if it were serious about growing it would focus certain symbiotic industries in certain areas and the government AND the private sector would plan growth together).