Downtown Development Update: What's rising, what's delayed

[Steve]

Isn't our Downtown office Vacancy rate like 26%? Why are we building buildings downtown?

[thelakelander]

^Great question....

[MakeDTjaxGre@tAgain]

This is only my guess. But from the sounds of it, they are always looking to buy and own rather than lease. Cheaper that way in the long term - same as renting vs buying a house. If they could buy a vacant office building DT, then that would be the way to go imo. I'm just not sure there is any that fits the space, parking, auditorium space, breakdowns etc what they require - you guys would know.

[Ken_FSU]

Wasn't sure where else to put this, but cool story coming out of a neighborhood that is too often treated like a punchline locally:

https://www.firstcoastnews.com/article/news/community/moncrief-community-celebrates-first-ice-cream-shop-duval-2-scoops/77-0cfa9bd8-bfad-403f-8a95-061e1e54520a

[marcuscnelson]

Here we go again. DT is hemorrhaging office workers to the burbs and hybrid employment opportunities. For anyone interested in seeing downtown revitalization happen, there are some industries and institutional anchors we have to ensure don't leave as the market continues to change. Local government and public sector entities are one of those institutional anchors we can control at the local level. But when our own local entities fly the coup, its foolish the fault the private sector for doing the same thing.

Channel 4 announcing that DCPS will choose between either Midtown (Schultz Center) or Baymeadows (Prominence Park).

https://www.news4jax.com/news/local/2026/09/08/duval-county-public-schools-narrows-headquarters-search-to-two-options/

[Ken_FSU]

Here we go again. DT is hemorrhaging office workers to the burbs and hybrid employment opportunities. For anyone interested in seeing downtown revitalization happen, there are some industries and institutional anchors we have to ensure don't leave as the market continues to change. Local government and public sector entities are one of those institutional anchors we can control at the local level. But when our own local entities fly the coup, its foolish the fault the private sector for doing the same thing.

Channel 4 announcing that DCPS will choose between either Midtown (Schultz Center) or Baymeadows (Prominence Park).

https://www.news4jax.com/news/local/2026/09/08/duval-county-public-schools-narrows-headquarters-search-to-two-options/

Yet they'll still keep telling us there's a master plan for downtown Jacksonville...

[jaxlongtimer]

Midtown is the superior option if choosing between these two.  Already own the building, better location, has the auditorium they will need to continue using if they chose Baymeadows, and would help revitalize a depressed office park (FYI, the first office park in America!  Original called the Koger Center.)

I still don't see the reason for them to move now from a financial standpoint.  With a stressed budget, this seems a waste to do now and the numbers don't support moving vs. staying where they are.  And, in a few years, after all the other "overabundance" of river front land in the hands of developers is built out, they will get a lot more money for their property.

[thelakelander]

^Yea, that's where I'm at. I'm failing to see a real strong financial reason for DCPS to move at all. I do see why it be good for the brokers, Dream Finders, etc.

[fsu813]

Midtown is the superior option if choosing between these two.  Already own the building, better location, has the auditorium they will need to continue using if they chose Baymeadows, and would help revitalize a depressed office park (FYI, the first office park in America!  Original called the Koger Center.)

I still don't see the reason for them to move now from a financial standpoint.  With a stressed budget, this seems a waste to do now and the numbers don't support moving vs. staying where they are.  And, in a few years, after all the other "overabundance" of river front land in the hands of developers is built out, they will get a lot more money for their property.

I assume they want to get a decent deal while they can, as the economic future is uncertain. A bird in hand...

I agree that Midtown is superior long term. Have to think Midtown reps will work to close that reported $2 mill gap in costs.

[simms3]

I personally support incentives for projects downtown to an extent, and especially to proven developers.

But I have come to believe that once again the city is putting the cart before the horse, as it has done time and time again.

You have to focus on jobs, job growth and job creation before all else.  Plain and simple.  We can build downtown apartments till we are blue in the face, but unless you have people around to afford them, we will be subsidizing the hell out of individual projects until eternity!

I sense, even in some downtown-centric business communities, that this reality is setting in.  Where are the jobs??  Where is the job growth in the sectors that feed downtown apartments and hotels?