Report by PwC and the Urban Land Institute says “good job and population growth is driving development.”
An annual report that tracks national and Canadian real estate development and investment trends ranked Jacksonville as one of the top 10 areas to watch for homebuilding prospects but ranked it lower in overall real estate prospects.
The 115-page Emerging Trends in Real Estate report, produced annually by PwC and the Urban Land Institute, listed characteristics and market strengths for Jacksonville, including that “good job and population growth is driving development.”
ULI’s North Florida chapter will host three programs to present the findings in Jacksonville, Gainesville and Tallahassee.
The Jacksonville event is scheduled at 5:30 p.m. Thursday at the US Assure Club inside TIAA Bank Field.
The Gainesville event was Thursday and the Tallahassee presentation is scheduled for Feb. 6.
Mitch Roschelle, a partner and business development leader for PwC, and state Sen. Rob Bradley, who represents the 5th district for North Central Florida and is a managing partner of an Orange Park law firm, are scheduled to speak at the three events.
“(Bradley) will share his thoughts on how Florida’s continuing growth and changing political climate will impact many aspects of real estate development throughout the state,” states the ULI North Florida event registration website.
This year’s report is the 40th edition of the publication, which was developed based on the views of 750 industry experts interviewed and 1,650 individuals surveyed.
A majority of the people surveyed were private property owners, commercial real estate developers, real estate advisers, private equity real estate investors and homebuilders.
Jacksonville ranked No. 9 of 79 metropolitan cities in the U.S. for homebuilding prospects and No. 48 for overall real estate prospects.
Compared to other Florida cities, the report says Jacksonville “continues to struggle to find the right formula to attract development in the downtown area, but a number of neighborhoods and suburbs offer opportunities for investment and development.”
For more information on the report and the events, visit northflorida.uli.org.