Donovan Rypkema, principal of PlaceEconomics, a Washington, D.C.-based real estate and economic development consulting firm, was the keynote speaker at the early morning session.

Rypkema said even though he only arrived in Jacksonville Thursday, it was enough time to make several observations about Downtown’s present and future.

He said successful urban core redevelopment can result in benefits to surrounding areas.

“A healthy downtown will spur development in other neighborhoods,” Rypkema said.

He said the organizations that succeed in revitalizing the urban core can take what has been learned and apply that expertise as “mentors” to improving other areas.

“I don’t know of an example where a healthy downtown hindered development of other neighborhoods,” said Rypkema.

Made aware of the upcoming migration Downtown of 1,600 EverBank employees, Rypkema said he wouldn’t expect the impact of the new population to have the maximum effect, even though almost every city “loves having law firms and accountants” in its urban core.

“That doesn’t put people on the street. You need retail, food and beverage, entertainment and housing,” he said.

Rypkema said while adding a worker Downtown will result in an additional $4,000-$5,000 a year going into the neighborhood economy, adding a new resident has a much greater impact, equal to 3-4 new jobs.

He also commented on the amount of parking he saw available Downtown compared to other cities he has visited.

“If parking was the answer for a downtown, Jacksonville would have the healthiest downtown in the country, but cars don’t spend money,” said Rypkema.

mmarbut@baileypub.com

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