One national trend that’s been bringing residents into urban cores is dense, highly walkable, mixed use developments, but a new report shows the growth rate of this type of project is slowing, after it had grown for several consecutive years.
In this Business Brief, Bill Delaney with Modern Cities tells WJCT News Director Jessica Palombo what that could mean for Jacksonville.
Millennials have been credited for the growth in urban areas, but those tastes could be changing, and that could spell trouble for projects like the Shipyards, the District and even smaller developments like the Laura Street Trio, Delaney said.
However, at least for the immediate future, Jaxons’ appetites for urban housing is still bigger than the city’s supply, meaning the national trend isn’t clear here just yet.
Delaney said, to keep the downtown momentum going long term, city leaders may need to keep economic incentives in mind.
Bill Delaney writes for Modern Cities.