Jacksonville investor on Downtown: 'They’re still in the Dark Ages'

[simms3]

^^^I can't wait for Hallmark partners to begin discussing 220 during lease-up and after they stabilize it.  So eager to see what numbers they pull in (I hope they're as vocal as Novare and Daniel have been in Atlanta).

[JayBird]

Is it the recent economic troubles for the country that cause DT to be a bad investment, developer characters from the cities past (Kuhn comes to mind), or just the general political leadership at this time?  Or a combo of it all?  I'm naive to the properties markets, I see an empty lot that is centrally located in county, utilities already in ground and a clean slate to build upon all = $$$. I had thought the Strand and Peninsula proved that there is a viable market DT.  So, is it just a matter of having to wait for next election and then game is on?

[JayBird]

Thanks Stephen.  Well, that does seem logical. It also makes me think that ANY action with the JRTC will have big impact one way or another on which way DT goes. 

As for zoning, wouldn't the obvious answer be that the majority of land in core should be zoned for whatever allows mixed use?  I mean I would think it would anything except for single family homes and and industrial sites.  And I assume it is that developers need to change zoning and city doesn't allow.  That seems foolish. 

[Cheshire Cat]

Its more than that though.

Despite the pretty cool events and gimmicks to bring attention to the downtown, there are powerful factors at work that keep it from happening.

Leadership is one of them.  Seriously.  Especially for people looking to invest capital.

Most of the profitable projects that would make downtown hum arent legal.  Look at what Alex Coley has had to go through wtih his project.

Boards of self important 'professionals' are sitting on top of hundreds of acres of vacant properties looking to 'leverage' their worthless land for deals that will never materialize.  At best, the ones that do usually involve obscene amounts of government money subsidizing projects that literally will not work without tax payer cash.  They need to get the hell out of the way and allow a self organizing complex business system model to reassert itself.

And I cannot help but be reminded of Madonna's pretty insightful observation a few years back.

"Now that I got everyone's attention, what do I have to say?"

There isnt any thought or leadership about what downtown is, what it should become, or how best to get there.  The most common answer is that its some kind of piggy bank whose sole reason for being is to squeeze corporations for tax money to be redistributed in Mandarin.

Our leadership is literally too stupid to realize that the downtown depended on a rail to ship connection to create the economic energy that made a city (which is now disconnected), and that its replacement economic model (high rise towers that housed the insurance and banking industry office workers) has disappeared due to computerization, remote workers, and downsizing.

They are more focused on removing amenities and punishing the homeless than they are in creating an environment that makes money or breeds the kind of mindset and skills that creates and drives it, and not one of them has given a moments worth of time to think about what creates a geographical economic unit. (like a downtown, for example).

No thought of what industry to go towards, no idea what kind of educational stimulus to apply in moving us toward that goal, and we are literally tearing down houses faster than new residents can move into the area.

If people can't see that, then they are momentarily distracted by the fun of the events, and not thinking long term, I think.

We need to rezone (thoughtfully) the downtown, restore its attractiveness for trade and workers, think about which direction is the bedrock economy of the city, and stop jumping on every redevelopment project that Professor Henry Higgins can sell us to prevent Trouble (with a capital "T") from the Pool Hall.

When our 'leaders' start talking about how money and people actually work-----doesnt matter which method or direction---then people and investors will take them seriously.

In the meantime, we are going to cut down trees to afflict the homeless in hemming park, watch Jim Love shut down the small business friendly environment of Riverside and San Marco, demolish every unattended house in Springfield, and talk about how a convention center will save downtown.

Absolutely it's much more than that and I think most of us reading and posting here realize that fact.  Certainly there is much to be done at many levels and perhaps that discussion deserves a thread away from this one which began with one developer's remarks saying Jacksonville lives in the "dark ages". In retrospect I am not sure what the intent of the original article was meant to be as it was short on news value. 

I would enjoy further interaction about what can and should be done to change things for the better in Jacksonville in a fair and balanced way.  I think everyone has said all that needs to be said about this article and one developers statements.  I know I have. 

[spuwho]

I was waiting for simms to jump in here. (and he did)

Hey, don't interview just one, interview a bunch. Ask hard questions. Do a MJ headliner.

Go off record with them if that will get them discussing pitfalls.

[ProjectMaximus]

Does anyone know if lake met the guy who started fundrise? I remember coming across it when he first announced his inclusion as a vanguard fellow or whatever, and this startup in Washington, D.C. Caught my eye.

You can find more info at fundrise.com, but it's basically a revolutionary way to crowdsource investment funding for developments that citizens of a community want to see happen. I didn't read too much beyond the basic premise, but it seems to have plenty of success stories so far.

Sorry for being lazy and not searching the forums/being more diligent in this post...I'm on a mobile device and just feeling lazy.

[vicupstate]

One last post, and this will be all I have to say on this topic. 

1) As someone alluded to, Gonzales may have said plenty of things about why he feels the way he does, but the reporter did not necessarily include those.  I've been interviewed by reporters at length, yet only one sentence actually gets printed.  And BTW, if he had said POSITIVE things, those would be the most likely to be left out, from my experience. Controversial comments are what most reporters seek (the Daily record being an exception to that rule).

2) As a local  developer he brings credibility to the very things the posters on here say all the time.  I'm sure many readers of this forum think of us as 'do-gooders/dreamers that don't understand the real world of business'.  But when someone in the development business supports OUR ascertion that the  city leadership is the problem, it makes our complaints seem more legitimate, at least in the view of some people.

3) I have said many times on here that 'leadership' is what is missing.  I always try to shoot down the theory that 'consolidation', 'southern culture/expectations' , 'negative perception of DT' or any other convenient excuse is the culprit.  It is not.  Thinking that  it is anything other than what it truly is (poor leadership leading to bad decisions)  will only delay turning things around.

[I-10east]

Well certainly the Jessie Ball duPont Fund, C2C Solutions, and Everbank among others disagrees with Gonzales. Believe me, I'm not trying to say that we have some world class downtown, but it's not like companies haven't recently invested into downtown Jacksonville. You think that we were Dodge City, KS after the sheriff was shot the way Gonzo was talking.

[thelakelander]

Does anyone know if lake met the guy who started fundrise? I remember coming across it when he first announced his inclusion as a vanguard fellow or whatever, and this startup in Washington, D.C. Caught my eye.

You can find more info at fundrise.com, but it's basically a revolutionary way to crowdsource investment funding for developments that citizens of a community want to see happen. I didn't read too much beyond the basic premise, but it seems to have plenty of success stories so far.

Sorry for being lazy and not searching the forums/being more diligent in this post...I'm on a mobile device and just feeling lazy.

Yes, I met him (Daniel Miller).  He's also the co-founder of real estate crowdsourcing website, www.popularise.com.  I'll be spending a week in DC next month.  5 of the 40 Vanguards , from this year, live in DC (including Dan).  I may try and meet with a few.

[fsquid]

Well certainly the Jessie Ball duPont Fund, C2C Solutions, and Everbank among others disagrees with Gonzales. Believe me, I'm not trying to say that we have some world class downtown, but it's not like companies haven't recently invested into downtown Jacksonville. You think that we were Dodge City, KS after the sheriff was shot the way Gonzo was talking.

I 10.  You do realize that there is a difference between a company relocating into an already built building and an actual real estate developer, right?

shhhh, he's on a roll.