by David Chapman
Staff Writer
Over the next few years, Downtown Jacksonville’s residential market will be full of grand openings. For now though, the lines of communication between developers of these soon-to-be establishments and local Realtors is open for business.
Several local developers — all with ties to Downtown — discussed their projects in a trade show setting with area Realtors last week at the Jacksonville Marriott. The panelists who attended the event included: Walt O’Shea, vice president of Hines, Roger Postlethwaite, chief operating officer of LandMar Group, Mike Shalley,vice president of development of The St. Joe Company and George Moore, vice president of development for Kuhn Companies.
The four developers shared updates, timing and progress of their various Downtown projects. They also explained some of the appeal of living in an urban environment and the challenge Realtors face selling condominiums Downtown.
“The objective was to provide a convenient opportunity for Realtors throughout the Jacksonville area to get together to learn a lot more about some of the things going on Downtown,” said O’Shea. “We supplied a higher level of information so they can be better plugged into the core of the city.”
According to O’Shea — who talked about the planned 52-story The St. John condominium on the Southbank — a couple key points included a different perspective clientele for Realtors as well as the idea that the Downtown core is better prepared to quickly climb out of the down market cycle.
Realtors from the Jacksonville area also attended.
“It was a great idea to bring the different companies together,” said Jennifer Criswell, a Realtor with Prudential Realty Network’s Avondale office. “It was helpful because there is so much going on Downtown and the forum helped get the word out.”
Postlethwaite, who discussed LandMar’s Shipyards project, believes that a thriving residential Downtown brings more appeal to an entire region.
Shalley agreed, saying that Jacksonville’s effort to boost Downtown residential is ahead of the national curve. Shalley discussed St. Joe’s East San Marco project, a mixed-use community.
All four panelists agreed that the demand for a residential Downtown is strong, mirroring the national trend for revitalized urban cores through the growth of the residential population.
“The more successful the downtown, the more successful the market,” said Postlethwaite. “A thriving downtown helps potential buyers not in the Jacksonville market make the move to the area.”
With all the information the developers provided, the responses from Realtors has already started to come in.
“We’ve already got positive feedback,” said Moore, who shared information about the Kuhn Companies luxury condominium project at 112 W. Adams St. “I’d expect there will be more forums or something like it in the future.”