In the latest episode of This Week in Jacksonville: Business Edition, host Kent Justice welcomed Jake Gordon, CEO of Downtown Vision, Inc. (DVI), to discuss the 2024 State of Downtown Report.
Downtown Jacksonville set to see billion-dollar boom in residential, hospitality projects, but challenges persist
“We’re seeing investments like never before,” Gordon said. “Downtown Jacksonville is truly being built brick by brick. When compared to just a couple of decades ago, these numbers show the significant progress we’ve made.” Other notable projects include major renovations at the DoubleTree by Hilton on the South Bank and Marriott Jacksonville Downtown. These upgrades reflect growing confidence in Jacksonville’s potential as a destination for visitors and conventions.
Neighborhoods like Brooklyn and South Bank are transforming with new residential projects, including mixed-use developments that integrate retail, dining, and green spaces.Despite positive trends, office vacancies present a significant challenge. The report highlights a 26% vacancy rate, driven largely by shifting work-from-home trends. However, Gordon sees this as an opportunity for innovation.
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