Episode 125: Neighborhood Revitalization

A Conversation with the Jacksonville Urban League and the NAACP

LISC Jacksonville

What does LISC stand for?

LOCAL – LISC Jacksonville is dedicated to transforming local neighborhoods into healthy and sustainable communities of choice and opportunity – good places to live, work, do business, and raise a family.

INITIATIVES – We fund initiatives and projects that promote neighborhood revitalization, family wealth creation, and community advocacy.

SUPPORT – We support families, businesses, and organizations in Duval County by providing tools, resources, and funding.

CORPORATION – LISC Jacksonville one of 38 local offices of the national Local Initiatives Support Corporation (LISC), the largest community development organization in the United States.

Learn More about LISC JacksonvilleWATCH FULL VIDEO

Downtown Revitalization: What is happening and how you can profit from it

Downtown updates bring new potential for locals, property investors, and businesses


  • By Gregg Cohen | Co-Founder, JWB Companies
  • | 12:15 a.m. December 9, 2022

Jacksonville is on the verge of a major transformation right now and JWB Real Estate Capital has become a major player. With new construction comes new potential, and whether you’re a local company owner, property investor, or just a Jacksonville resident, it’s vital to understand why downtown’s development is so crucial to the city as a whole.

Imagine a vibrant, populated downtown Jacksonville

When a new prospective firm is looking for a place to establish their corporate headquarters, they will consider the housing options for their employees. If the downtown region has a low cost of living, offers many services, and is accessible via public transportation systems, it will play an important role in their overall selection of Jacksonville as a relocation site. When this occurs, our city’s population and revenue expand tremendously, and raises median incomes for the whole community.

What we have learned from other successful downtown revitalizations, like Nashville and Charlotte, is that they tend to follow a similar path. Here are the 5 phases:

Phase 1: Public and private support comes together to put a focus on increasing the number of people living and working downtown.

Phase 2: City governments provide developers with incentive packages in order to make the project of renovating vacant buildings economically viable. Pioneering developers with a long-term investing horizon take on the risk associated – with relatively low immediate returns – in order to get in on the ground floor of the revitalization.

Phase 3: The number of people living in the city grows as these projects are completed, and the amenities available to them (restaurants, bars, music clubs, etc.) also grow.

Phase 4: As the population rises, demand for housing grows, which leads to higher rents. More investors become attracted to downtown without the need for incentive packages.

Phase 5: Downtown becomes a destination. Employers and residents view living and working downtown as an amenity, median incomes rise, rent prices and home prices in surrounding neighborhoods increase dramatically as real estate in and around downtown becomes much more valuable.

The city of Jacksonville is now in stages 3 and 4. The Downtown Investment Authority’s decision to approve incentive packages for the downtown area has helped stimulate activity in the development community, with JWB among them. According to the 2021 State of Downtown Jacksonville report, we currently have $4.7 billion in the downtown development pipeline. In 2014, that number was only $885 million. That represents a 431% increase in activity in just seven years, while downtown residents have increased 40% over the last five years and now tops 7,500.

SPRINGFIELD PRESERVATION AND REVITALIZATION

SPAR COUNCIL WORKS TO PRESERVE AND BUILD COMMUNITY IN THE SPRINGFIELD HISTORIC DISTRICT.

SPAR, a 501c3 tax-exempt non-profit organization, has served as a resource and advocate for our community since 1974. We facilitate improvements in quality-of-life and work to preserve the unique character of our neighborhood, engaging with city leaders and law makers, hosting popular public events, and helping residents directly. 

See a cause that’s near and dear to you?
Then get involved. We’d love your help.



https://cdn.embedly.com/widgets/media.html?src=https%3A%2F%2Fwww.youtube.com%2Fembed%2F4gg3G1Ag0_o%3Fstart%3D4%26wmode%3Dtransparent%26feature%3Doembed%26start%3D4&wmode=transparent&display_name=YouTube&url=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3D4gg3G1Ag0_o&image=https%3A%2F%2Fi.ytimg.com%2Fvi%2F4gg3G1Ag0_o%2Fhqdefault.jpg&key=e23856ccc1f011e0b5e44040d3dc5c07&type=text%2Fhtml&schema=youtube


A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL-FREE  1-800-HELP-FLA (435-7352) OR ONLINE AT WWW.FDACS.GOV. REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL, OR RECOMMENDATION BY THE STATE. REGISTRATION #: CH12588

Leave a Reply

Your email address will not be published. Required fields are marked *

We would love to hear from you!

Please record your message.

Record, Listen, Send

Allow access to your microphone

Click "Allow" in the permission dialog. It usually appears under the address bar in the upper left side of the window. We respect your privacy.

Microphone access error

It seems your microphone is disabled in the browser settings. Please go to your browser settings and enable access to your microphone.

Speak now

00:00

Canvas not available.

Reset recording

Are you sure you want to start a new recording? Your current recording will be deleted.

Oops, something went wrong

Error occurred during uploading your audio. Please click the Retry button to try again.

Thank you

Send your recording