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The Coastal
  • Development
    Building Up Jax - Jacksonville Construction and Development Updates Each Saturday

    Building Up Jax: MOSH releases new Northbank renderings

    Building Up Jax - Jacksonville Construction and Development Updates Each Saturday

    Building Up Jax: Whataburger adding third new Jax location

    Building Up Jax - Jacksonville Construction and Development Updates Each Saturday

    Building Up Jax: Whataburger now open in St. Johns, coming soon in Middleburg

    Building Up Jax - Jacksonville Construction and Development Updates Each Saturday

    Building Up Jax: East San Marco tenants revealed

    Building Up Jax - Jacksonville Construction and Development Updates Each Saturday

    Building Up Jax: Homespun Kitchen expanding to Riverside

    Building Up Jax - Jacksonville Construction and Development Updates Each Saturday

    Building Up Jax: Vagabond Coffee joining VyStar Tower; Dreamette to Springfield

    Building Up Jax - Jacksonville Construction and Development Updates Each Saturday

    Building Up Jax: Great Greek nears St. Johns opening; Hwy 55 Burgers coming to Westside

    Building Up Jax - Jacksonville Construction and Development Updates Each Saturday

    Building Up Jax: Purple Roots now open at Tinseltown

    Building Up Jax - Jacksonville Construction and Development Updates Each Saturday

    Building Up Jax: Fire museum on the move; Dreamette to San Marco

  • History
    • All
    • Jax Evolved
    Florida Times-Union building

    Story of a Building: The Florida Times-Union Building

    Edgewood Bakery

    Remembering Edgewood Bakery: Once a Murray Hill Staple, Now an Empty Building

    jacksonville university

    A Brief History of Jacksonville University

    history of Ed wAters College

    A Brief History of Edward Waters College

    Worman's bAKERY AND DELI

    Remembering Worman’s Bakery and Deli

    Before Normandy Mall, There Was the Loew’s Normandy Drive-In Theatre

    Before Normandy Mall, There Was the Loew’s Normandy Drive-In Theatre

    Green Turtle Restaurant in Jacksonville, fl

    Remembering Joe Adeeb’s Green Turtle Restaurant

    San Marco Theater, San Marco, Jacksonville, FL

    Story of a Building: San Marco Theatre

    Sun-Ray Cinema building Five Points Jacksonville FL

    Story of a Building: Sun-Ray Cinema Building

  • Jax Evolved
    VyStar at 100 West Bay Street, Jacksonville, FL

    JAX EVOLVED: VyStar Reinvigorates the Former Life of the South Building

    JAX EVOLVED: San Marco Preservation Society Now Occupies South Jacksonville City Hall

    JAX EVOLVED: San Marco Preservation Society Now Occupies South Jacksonville City Hall

    Old St. Luke's Hospital jacksonville fl

    JAX EVOLVED: Old St. Luke’s Hospital Building Now Houses Jacksonville Historical Society

    Paul Davis Restoration, formerly Chevrolet Parts Depot, Springfield, Jacksonville, FL

    JAX EVOLVED: Paul Davis Restoration Gives Life to Old Chevrolet Parts Depot

    Old St. Andrew's Church building, Jacksonville, FL

    JAX EVOLVED: Old St. Andrew’s Church Building

    Novel Coworking / Groover-Stewart Drug Company Building, 25 N. Market Street, Jacksonville, FL - Image copyright 2020 Google

    JAX EVOLVED: Groover-Stewart Drug Company Building Now Houses Novel Coworking

    Dyal-Upchurch Building, Jacksonville, FL

    JAX EVOLVED: Downtown Jacksonville Adaptive Reuse Collection

    The Barnett, Jacksonville, FL

    JAX EVOLVED: The Barnett’s Long Journey to Redevelopment

    JAX EVOLVED: Brewster Hospital to North Florida Land Trust, LaVilla, Jacksonville, FL

    JAX EVOLVED: From Brewster Hospital to North Florida Land Trust

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      • Art
      • Hidden Gems
      • Local Quirks
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      Local Producer Alex Moye Releases New Album, “All I Need”

      Local Producer Alex Moye Releases New Album, “All I Need”

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      Southern Italian Deli Market Jacksonville FL

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      How the Prati Italia Team Survived the Pandemic

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BILL$, BILL$, BILL$: Jacksonville’s Development Spending Comes Full Circle Within a Decade

by The Coastal
March 20, 2018
in Development, Featured
BILL$, BILL$, BILL$: Jacksonville’s Development Spending Comes Full Circle Within a Decade
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Around a decade ago, billions of dollars worth of public, private, and cooperative developments were proposed throughout the city of Jacksonville.

These ambitious projects included a massive multiuse development along Bay St., a revitalization of downtown’s Ambassador Hotel, and even a high-rise equipped with a gondola service crossing the St. Johns River.

Other expensive projects, such as a new arena and baseball park, a new downtown library, and the first phase of the ill-fated Berkman Plaza condominiums had recently been completed as well.

Development was booming – but not at a sustainable rate.

Then the recession of the late 2000s hit, and the money dried up quickly. Projects started falling through left and right. Areas that looked set for a major boom, such as downtown, instead only saw a few new developments – which were largely isolated, since other projects expected to complement them were never realized.

But now, just a decade later, Bold City developers – and the city – are making the bold call to jump back into the days of high spending.

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With the economy back on track, creditors are more willing to back big projects again. And it helps that Jax is experiencing a population boom right now, particularly among young people.

In just the past couple years, billions of dollars worth of public and private development has been proposed within Jacksonville. Ambitious projects such as proposed “healthy-town” concept The District and Shad Khan’s redevelopment of the Shipyards and Met Park are likely to be half-billion dollar investments by themselves.

Even mid-‘00s fever dreams like that gondola system proposed by developer Mike Balanky are suddenly finding new life.

And some of the promised developments have already been delivered upon – such as Amazon.com’s new Jacksonville fulfillment and distribution centers, which required over $300 million to build.

New development is important; it brings about growth in critical parts of the city such as downtown, and brings new jobs to the community. All this money being thrown around has its drawbacks, though.

Many of these projects involve a combination of public and private funding. For most proposed downtown developments, it’s almost a given that the city will be kicking in something – usually to help with preserving historic elements or upgrading infrastructure.

It makes projects like The District, which could end up requiring as much as $26 million in infrastructure investments from the city, a bit of a double-edged sword. If it works, everyone is happy. If it fails, taxpayers have then contributed millions to help some rich guys build empty buildings.

And for projects where funding responsibility lies squarely on the city’s shoulders, the risk-reward dynamic is even more pronounced. If the new regional transportation center makes Jax public transit a more enjoyable experience, you’ll hear few complaints. But if it doesn’t help, it becomes an object of ire for discerning taxpayers for years to come.

It’s a hard balance to strike, ultimately. The city has set the precedent of offering heavy incentives for development, and has become more aggressive in doing so under the leadership of Lenny Curry. This means there are inevitably going to be projects that don’t work out, and those projects may be frustrating to many.

But while some developments might not work out as planned, plenty of others do – and they bring along positive impacts that can be felt within the community for years to come.

So for now – and until the money dries up again – the spending continues. Maybe we’ll get that gondola after all.

By the Numbers: Big Projects in Jax

We put together a random collection of some developments in various stages of completion with particularly high price tags to offer some context on the money being spent on development in Jax.

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The Coastal is a local magazine in Jacksonville, FL, founded in 2015 to bring you stories about the past, present, and future of the First Coast.

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