Author Topic: Southside Construction Update - October 2013  (Read 3376 times)

Metro Jacksonville

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Southside Construction Update - October 2013
« on: October 30, 2013, 03:05:03 AM »
Southside Construction Update - October 2013



A brief look at the status of various projects under construction in and around Jacksonville's Edge City, the Southside, during the month of October.

Full Article
http://www.metrojacksonville.com/article/2013-oct-southside-construction-update-october-2013

jaxbeachguy

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Re: Southside Construction Update - October 2013
« Reply #1 on: October 30, 2013, 08:09:21 AM »
In retrospect, was consolidation the right choice back in the 60s?  Seems to me that it actually encourages the sprawl that we see today.  Massively large city/county + lax zoning/enforcement + cheap and plentiful land = Jacksonville.

JaxNative68

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Re: Southside Construction Update - October 2013
« Reply #2 on: October 30, 2013, 11:06:28 AM »
^^^^ You need to read the plethora of other threads on that topic on this site.

simms3

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Re: Southside Construction Update - October 2013
« Reply #3 on: October 30, 2013, 11:51:19 AM »
If Jacksonville were not consolidated, arguably city leaders in the smaller City of Jax would still not know what they're doing or how best to run the city.  At least with consolidation most of the city can run on autopilot and attract the jobs as a low cost alternative to bigger cities, fueling real estate development that fills city coffers.  There is no indication that a smaller Jax would somehow lead to less sprawl and more apartments/offices being built downtown, which means there would still be no tax base and far more income inequality (affluent tax paying Ortega/Avondale/San Marco holding the stick for poor destitute tax beneficiaries north, east, and west of the city).
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thelakelander

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Re: Southside Construction Update - October 2013
« Reply #4 on: October 30, 2013, 11:56:49 AM »
Yeah, it's not the vehicle. It's the drivers sitting behind the wheel.  Even if we were not consolidated, there's nothing to suggest that we wouldn't be more than another struggling version of Mobile, Richmond or Dayton.
"A man who views the world the same at 50 as he did at 20 has wasted 30 years of his life.” - Muhammad Ali

thelakelander

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Re: Southside Construction Update - October 2013
« Reply #5 on: October 31, 2013, 12:01:20 PM »


Quote
Inside 5000 Town, the first apartments at St. Johns Town Center

The developers are planning a grand opening party on Nov. 6, though the first residents moved in around Labor Day and the property is already 40 percent occupied. The 130-apartment building has a mix of one-, two- and three-bedroom units.

Rents for one-bedroom units range from $1,385 to $1,435; two bedrooms range from $1,470 to $1,930; and three bedroom units range from $2,275 to $2,320.

full article: http://www.bizjournals.com/jacksonville/news/2013/10/31/inside-5000-town-the-first-apartments.html
"A man who views the world the same at 50 as he did at 20 has wasted 30 years of his life.” - Muhammad Ali

simms3

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Re: Southside Construction Update - October 2013
« Reply #6 on: October 31, 2013, 12:32:28 PM »
^^^LoL my outdated 1960s 400 SF studio is more expensive than the largest and most expensive luxury unit in that building!  Amazing.  New type III construction with amenities, prime location, and high end finishes.  We can conjecture that these probably represent top of the market rents equivalent to Strand, Tattersall, or Bell Riverside.

130 units here + ~250 at Tattersall, 295 DT, another ~250 in Riverside, and another ~250 under construction at 220 Riverside = ~1,250 rental units at north of $1.50psf for the highest paid workers in Jax.  That's still a really shallow market and either an indicator that home prices are so low and would be renters are just buying (why not), or there just aren't that many high paying jobs in the metro for those in the traditional renting age bracket of 25-35.
Bothering locals and trolling boards since 2005

thelakelander

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Re: Southside Construction Update - October 2013
« Reply #7 on: October 31, 2013, 12:42:16 PM »
^Home prices have been extremely low here over the last few years. In many cases, it is cheaper to buy as opposed to rent.
"A man who views the world the same at 50 as he did at 20 has wasted 30 years of his life.” - Muhammad Ali

fieldafm

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Re: Southside Construction Update - October 2013
« Reply #8 on: October 31, 2013, 12:43:14 PM »
I can attest that 5000 Town is much nicer than Uptown 1/4 mile away. 

The rent/sq ft at 5000 Town are in the upper range of the comparable sub-market.  Renting is still growing at a faster pace relative to home ownership in Jax... although I suspect that will change dramatically in the next year or so, just strictly looking at the current supply of housing.. prices are going to start swinging back to home ownership.

jaxjags

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Re: Southside Construction Update - October 2013
« Reply #9 on: October 31, 2013, 06:33:15 PM »
I did read an article recently (cannot remember which journal) that indicated many of the 20-40 age group do not consider home ownership a must. They are more interested in career mobility and low debt than owning a home and the financial commitments that brings. Of course these trends may change as this same age group starts families.

Wacca Pilatka

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Re: Southside Construction Update - October 2013
« Reply #10 on: November 01, 2013, 11:22:07 AM »
I'm not sure that Richmond should be lumped in with the mid-size struggling cities anymore (beyond the fact that it and Jacksonville are similar in pre-consolidation era land area and population).  It has finally started to reverse its long trend of population losses and has had a tremendous influx of new developments and residential growth in its core.
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thelakelander

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Re: Southside Construction Update - October 2013
« Reply #11 on: November 01, 2013, 11:39:35 AM »
^True. Btw, we'll be showcasing Richmond in the Learning From series next week.  Here's a few teasers of their redevelopment efforts....








"A man who views the world the same at 50 as he did at 20 has wasted 30 years of his life.” - Muhammad Ali

jct718

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Re: Southside Construction Update - October 2013
« Reply #12 on: November 05, 2013, 04:18:28 PM »
Any information on what the land at Southside and AC Skinner/Deerwood Pkwy is being cleared for?