Nocatee initially got hit hard by the crash and they changed directions quite a bit. I can't remember the exact number, but they made a substantial number of modifications to the originally approved PUD (50+ IIRC). It's a much less cohesive development now, basically a scattered area of subdivisions, instead of an interconnected community.
Since the market started coming back a few years ago, it has exceeded expectations and had a ton of homes built. In the short term, the alteration of their original plans may have made sense, but I think over the long term, I believe it will prevent Nocatee from ever being a truly special community. Its basically Eagle Harbor East, but closer to the beach, St. Augustine, and with more conservation area.
All that said, the continued rapid growth of Northern St. Johns County should be a wake up call to Jacksonville. You could revitalize all of Springfield and Murray Hill (and probably more) with the amount of people that have built in Nocatee. Durbin Crossing and other Northern St. Johns County developments are also doing well. Reasons: 1. Schools. 2. Better Parks and Recreation 3. Minimal crime 4. Affordability. Big factors Jax has in its favor: 1. Better food. 2. Better shopping. 3. More culture. 4. Cooler neighborhoods. 5. Jobs.
Four of the things Jax has in its favor can be accessed by SJC residents (with a commute). Three of the things SJC has in its favor can't be accessed by Jax residents. So essentially you can live in SJC in a crime free area, send your kids to better schools, and pay less for more, and simply drive a little more to work, or to a night out. COJ has to start investing more in its schools, parks, and reducing crime if it wants to start tipping the scale back the other way.