Author Topic: More infill housing underway in Jax's urban core  (Read 1277 times)

Metro Jacksonville

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More infill housing underway in Jax's urban core
« on: October 08, 2017, 08:20:04 AM »
More infill housing underway in Jax's urban core



Momentum in the densification of Jacksonville's urban core picks up steam as more projects continue to break ground. Quietly, construction is now underway on two multifamily infill developments, adding a combined 233 apartment units in the inner city.

Read More: http://www.metrojacksonville.com/article/2017-oct-more-infill-housing-underway-in-jaxs-urban-core

jaxjaguar

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Re: More infill housing underway in Jax's urban core
« Reply #1 on: October 08, 2017, 10:02:05 AM »
Trying to view the full article on my phone, but I keep getting redirected to a malicious Walmart gift card webpage :(

thelakelander

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Re: More infill housing underway in Jax's urban core
« Reply #2 on: October 08, 2017, 10:50:46 AM »
Thanks for letting me know. I'll take a look at what's going on.
"A man who views the world the same at 50 as he did at 20 has wasted 30 years of his life.” - Muhammad Ali

Captain Zissou

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Re: More infill housing underway in Jax's urban core
« Reply #3 on: October 10, 2017, 11:08:44 AM »
So if you add the apartments on Homes street, we're looking at between 600-700 more residents in the inner core.  I'm concerned about Broadstone River House and would love to see 200 Riverside break ground.  How close are we to the magic 10,000 people number?

sanmarcomatt

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Re: More infill housing underway in Jax's urban core
« Reply #4 on: October 10, 2017, 11:20:46 AM »
So if you add the apartments on Homes street, we're looking at between 600-700 more residents in the inner core.  I'm concerned about Broadstone River House and would love to see 200 Riverside break ground.  How close are we to the magic 10,000 people number?

Why are you concerned about Broadstone?

Captain Zissou

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Re: More infill housing underway in Jax's urban core
« Reply #5 on: October 10, 2017, 11:21:12 AM »
So if you add the apartments on Homes street, we're looking at between 600-700 more residents in the inner core.  I'm concerned about Broadstone River House and would love to see 200 Riverside break ground.  How close are we to the magic 10,000 people number?

Why are you concerned about Broadstone?

Somebody said work has stopped.

sanmarcomatt

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Re: More infill housing underway in Jax's urban core
« Reply #6 on: October 10, 2017, 11:31:56 AM »
So if you add the apartments on Homes street, we're looking at between 600-700 more residents in the inner core.  I'm concerned about Broadstone River House and would love to see 200 Riverside break ground.  How close are we to the magic 10,000 people number?

Why are you concerned about Broadstone?

Somebody said work has stopped.

Plenty of activity on Friday but haven't been this week.

acme54321

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Re: More infill housing underway in Jax's urban core
« Reply #7 on: October 10, 2017, 11:47:44 AM »
Broadstone seems to be the slowest construction project of all time.  There are always a couple of guys there doing work but it never seems much more than that.  They started framing a week ago or so?  When I was on the riverwalk yesterday around 2:00 there was a guy driving a boom lift around and I heard one nailgun a few times.   Usually when a project is in framing there are multiple crews and it sounds like WW3 with all of the nailers running.   It seems like there are never more than 10 people on site and I drive by multiple times a week. 
 
The whole project has been consistent.....  ly slow.
« Last Edit: October 10, 2017, 11:50:12 AM by acme54321 »

fieldafm

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Re: More infill housing underway in Jax's urban core
« Reply #8 on: October 10, 2017, 12:32:55 PM »
Broadstone seems to be the slowest construction project of all time.  There are always a couple of guys there doing work but it never seems much more than that.  They started framing a week ago or so?  When I was on the riverwalk yesterday around 2:00 there was a guy driving a boom lift around and I heard one nailgun a few times.   Usually when a project is in framing there are multiple crews and it sounds like WW3 with all of the nailers running.   It seems like there are never more than 10 people on site and I drive by multiple times a week. 
 
The whole project has been consistent.....  ly slow.

That's really more of a microcosm of the labor market in Jax right now. General contractors are having a hard time with reliable subs... particularly on multifamily construction. There are really only 4 GC's doing multifamily in Jacksonville right now, and most of their labor pool is in areas like Atlanta, Nashville, Miami... where work is plentiful.

acme54321

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Re: More infill housing underway in Jax's urban core
« Reply #9 on: October 10, 2017, 07:51:39 PM »
I don't know about all of that, they're pumping out multifamily stuff all over the Southside and SJTC

fieldafm

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Re: More infill housing underway in Jax's urban core
« Reply #10 on: October 10, 2017, 08:16:00 PM »
Jacksonville lags behind many Sunbelt cities in multifamily housing starts. Labor supply is low, forcing labor costs to rise.  The construction labor pool has been a problem in Jacksonville (and nationwide) for a few years now.


Jim

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Re: More infill housing underway in Jax's urban core
« Reply #11 on: October 11, 2017, 10:16:20 AM »
I don't know about all of that, they're pumping out multifamily stuff all over the Southside and SJTC
Correct.  Broadstone's slowness is unique unto itself right now.  Southside and SJTC area are not having that problem at all.  Neither are the La Villa projects. Nor Bartram Park and St Johns County projects.

And a lot more is about to start.

acme54321

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Re: More infill housing underway in Jax's urban core
« Reply #12 on: October 11, 2017, 12:47:52 PM »
To be fair when they started this project I think the DDRB presentation had something like completion in Fall 2018.  I thought that sounded crazy because that was like 30 months of construction.  I guess they have a plan because at that's where they're heading.

I still don't buy the labor shortage excuse though, but whatever.

fieldafm

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Re: More infill housing underway in Jax's urban core
« Reply #13 on: October 11, 2017, 01:40:04 PM »
To be fair when they started this project I think the DDRB presentation had something like completion in Fall 2018.  I thought that sounded crazy because that was like 30 months of construction.  I guess they have a plan because at that's where they're heading.

I still don't buy the labor shortage excuse though, but whatever.

My comments on labor supply/price of labor are based on my professional experience in this area and looking at proformas for multifamily and mixed-use construction projects day in and day out.

Construction costs, based largely on a surge in labor prices, are an issue in today's market. It's why you see proposed mixed-use projects such as 200 Riverside in Brooklyn have to add five new floors' worth of units in order to be able to generate enough rent to make their project financially feasible.

There is a limit on gleaning much from anecdotal observations comparing construction of a garden-style apartment with surface parking on a greenfield suburban site, versus building an apartment complex with structured parking on a waterfront, urban site that includes bulkhead work, environmental remediation and whose work was halted by flooding issues caused by a hurricane. That's not exactly comparing apples to apples.