The list for "Downtown" is not at all credible. It is better described as "incredible" and for all the wrong reasons
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Aside from the aforementioned comments about including things like demolition of buildings (and the Hart Bridge ramps for $37 million) and interstate expenditures that serve to expedite people getting "around" Downtown more than into it, it includes routine maintenance items like office renovations and infrastructure repairs. Why don't they go on and add all maintenance and operating costs of every structure in the area. This type of "investment" mostly just maintains the status quo as refreshes/upkeep without adding employees or contributing to the development of the greater area unless they are re-purposing a building or bringing a long dormant building back online.
JEA is shrinking employment downtown but they are down for $72 million. Most of the dollars of significance are in Brooklyn and the Southbank. When I grew up here, no one ever called those areas "downtown. "And, Downtown didn't include the "Stadium District" either as that was all industrial.
How about subtracting the values of buildings going offline like the First Baptist properties, the Landing, the old City Hall and Courthouse, the old Greyhound bus station, the Catholic center, the soon to be vacant (demolished?) JEA building, the Florida Times Union building (hey, they included it in their new office build-out!), all the restaurants that close (like FSCJ's 20 West that they included in their total), etc. They should also subtract all the tax credits and incentives ($233 million just for Lot J) the City puts up.
As to the $3.6 billion in proposed projects, are they going to count those every year, over and over, until they get built, if ever? Most are likely pie in the sky projects and numbers that have been thrown around for over 10 years (can you say "Berkman Plaza II" or the "Shipyards" - down for a cool $2 billion or over half of the total shown). Interestingly, they missed adding the $100 million aquarium and millions more for the USS Adams. LOL.
Surprised they didn't count FIS's likely new $145 million Brooklyn HQ's as "proposed." Missed that one.
For this list to have any real value, it should have at least three minimum requirements: Only count private dollars invested, only count projects for which construction began during the subject period (i.e. can only count a project once!) and only projects that increase the permanent employment base. Everything else is smoke and mirrors and comparisons from one period to another become meaningless as a result. They should also breakdown the numbers by Brooklyn, Southbank, Northbank and Stadium to highlight what pieces are thriving and which are just treading water.
The real test to me for Downtown is how resilient it will be during an economic downturn. Will businesses and residents move out in droves or hang in there for the long haul because Downtown is a truly viable neighborhood in good times and bad?
