Landing/Downtown Market Study Results

[thelakelander]

Study suggests that it may be difficult to land a hotel at the Landing and scale of redevelopment should be reduced.

Redevelopment of Landing, Downtown will likely depend on taxpayer-funded incentives, study says

Redeveloping the Jacksonville Landing is "the most critical component of any plan to redevelop Downtown," according to a draft study that could help shape the urban core's project priorities.

Riverfront activation and adding to Downtown's housing base over the next 20 years also rank high on the market feasibility study presented Wednesday to members of the Downtown Investment Authority.

Each comes with a price, though, and one likely dependent on taxpayer-funded incentives.

For instance, one of the keys for Landing retail development is securing a "national retailer as an anchor," but such a store would need to be "heavily incentivized to enter the Landing — as high as $3 million for 20,000 square feet."

On the housing side, there's a goal of 10,000 new residents over the next 20 years, which would require 7,000 new units, or 350 per year. From 2000-13, though, a total of 1,500 units — or 115 per year — were added.

"These goals are considered achievable, but are not supported by past experience," says the study from Red Rock Global LLC and Urbanomics Inc.

full article: http://www.jaxdailyrecord.com/showstory.php?Story_id=542729

[tufsu1]

shocking

[thelakelander]

True. Taking a quote from Joakim Noah about the Miami Heat, "You gotta give Miami the Landing's conceptual plans credit. They're Hollywood as hell....."

[tufsu1]

I see many similarities between the Landing and the NBA

[KenFSU]

Is the draft study publicly available?

[mtraininjax]

On the housing side, there's a goal of 10,000 new residents over the next 20 years, which would require 7,000 new units, or 350 per year. From 2000-13, though, a total of 1,500 units — or 115 per year — were added.

If downtown takes 20 years to add 10,000 people, it will never make it. I think this report isn't worth the toilet paper its written on!

[Scrub Palmetto]

+2K will be an improvement, +5K will be an even bigger one, +7K bigger still, etc. 'Making it' will happen on the road to 10K, not only after. Though the timeline isn't impressive or terribly ambitious, I think 500 new people moving Downtown per year could still have a noticeably positive impact.

[thelakelander]

On the housing side, there's a goal of 10,000 new residents over the next 20 years, which would require 7,000 new units, or 350 per year. From 2000-13, though, a total of 1,500 units — or 115 per year — were added.

If downtown takes 20 years to add 10,000 people, it will never make it. I think this report isn't worth the toilet paper its written on!

This should not be a surprise. I've repeatedly replied to several that this was the realistic timeline for 10k residents. Better find a way to benefit from the 75-100k already living within a three mile radius.

[vicupstate]

On the housing side, there's a goal of 10,000 new residents over the next 20 years, which would require 7,000 new units, or 350 per year. From 2000-13, though, a total of 1,500 units — or 115 per year — were added.

I'd be willing to bet that of the 1,500 units mentioned, very few came since 2008.

All of these came before then: Parks at the Cathedral, 11 E., Carling, Home Street Lofts, Churchwell Lofts, Knight Lofts, Strand, Peninsula plus some others that don't come right to mind. 

[thelakelander]

One thing to keep in mind is the amount of land area those 1,500 units are spread out over. For example, Springfield's residents are closer to the Northbank core then Home Street Lofts. I believe viewing DT Jax with imaginary borders hurts us to a degree. At times we forgot about the importance of linking and tying in the thousands of existing residents and workers just outside the imaginary bubble.

[Overstreet]

I'd be happy to build a 27 sstory apartment building in Jacksonville than the one I'm doing in Houston. I've never experienced such a struggle.  Unfriendly government officials, neighbors ...etc

[Rob68]

I had a friend come in from minneapolis yeasterday. She lived here for many years and has been gone for many years. My partner and I took her downtown last night to the pho place on adams..we were addressed by two different people within 100 ft from my car..she made a comment that since being in minneapolis metro for over 15 years she hadnt been panhandled once..for me..for there to be a new viable downtown living experience there must be better ways of the very poor to make it down there without begging.  Im good at dealing with that element of life but some people arent.

[finehoe]

*yawn*  Another year, another study on downtown.  It's well past time to stop "studying" the problem and actually DO something.

I would love to see the grand total of the money spent over the last thirty years "studying" what's wrong with downtown Jacksonville.

[TheCat]

[tufsu1]

Folks...this study was an economic analysis...I'm happy the DIA did this before handing over millions to Sleiman or anyone else.