Newly released 2017 State of Downtown Report finds recent projects are turning Jacksonville’s 'potential' into action

Jacksonville, FL — Recent projects are turning 'potential' into action-- it's the key takeaway from the new 2017 State of Downtown Report, released Wednesday by the not-for-profit organization, Downtown Vision.

Downtown Vision says their annual study tracks and analyzes a number of indicators to measure success and growth for downtown Jacksonville, including development and investment, transportation expansions, hospitality, and more.

The organization says the most significant trend was the surge in development projects.

In 2017 alone, Downtown Vision says there were more than $3.5 billion in projects that were either completed, under construction, or proposed. That's a huge jump, as the organization says between 2000 and 2016, there were $2.5 billion projects completed in total.

"This report offers great news for everyone who lives in Duval County. We're seeing Downtown transform before our eyes thanks to support from our mayor, City Council, and agencies like DIA, and because of numerous Downtown stakeholders, such as small businesses, private developers, and concerned non-profits. All of this means a more competitive city, more businesses location here, more jobs created, and a bigger tax base to fund citywide improvements," says Downtown Vision's CEO, Jake Gordon, in a statement.

The report also highlights other positive signs of growth in downtown, including the following:

- Demand for downtown living is high

- The office market is extremely competitive, compared to other major Florida downtowns

- Universities are beginning to bring a new student base to downtown

- Public transportation options are expanding

- All of downtown's four-star hotels have been recently renovated; new hotels are being proposed

Read more about the findings, by clicking HERE.