Author Topic: DT Development Update: Some developers waiting, recalibrating amid rising costs  (Read 759 times)


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The city Downtown Investment Authority hopes that if Gateway Jax’s $500 million mixed-use development announced Sept. 20 breaks ground on schedule in mid-2024, it will maintain what’s been a steady flow of residential units coming online over the past five years.

There are about 1,000 residential units under construction throughout Downtown’s 3.9-square-mile footprint.

The proposed Gateway Jax Pearl Street District in the North Core near City Hall would add another 1,000 multifamily units.

That would bring the number of multifamily units on the Northbank and Southbank to 6,400, according to the DIA.

DIA CEO Lori Boyer called that pace of development “terrific” but she said the pipeline of future projects is “definitely slowing down.”
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