by David Chapman
Staff Writer
Over the next few years, Jacksonville’s downtown 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.
Downtown Jacksonville developers discussed their projects in a trade show setting with area Realtors last month at the Jacksonville Marriott.
The panelists were the vice president of Hines’ St. Augustine office, Walter O’Shea; the chief operating officer of the LandMar Group, Roger Postlethwaite; the vice president of development for The St. Joe Company, Mike Shalley; and the vice president of development for Kuhn Companies, George Moore.
The four developers shared their updates, timing and progress of the projects as well as explaining some of the appeal of living in an urban environment and challenge for Realtors of selling condominiums in downtown Jacksonville.
“The objective was to provide a convenient opportunity for Realtors throughout 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 provided information on The St. John, a couple of 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.
“It was a great idea to bring the different companies together,” said Jennifer Criswell of 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 The Shipyards, 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 represented The St. Joe Company and discussed the 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 residences.
“The more successful the downtown, the more successful the market,” said Postlehwaite. “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 Kuhn’s luxury condominium project at 112 W. Adams St. “I’d expect there will be more forums or something like it in he future.”