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2022 Looking Ahead: Growing Retail, Residential Opportunities Downtown

January 07, 2022

The year 2022 could finally be the year that downtown Jacksonville takes big steps toward reaching its potential. For the first time in a while, both the interest in revitalizing downtown and the capital to make it happen are available at the same time. That could yield big results in 2022.

One reason is the number of residents is increasing. City officials have targeted 10,000 as the number of residents needed in the city center to create the demand for new retail and restaurants and begin creating community density. That number stands around 6,800. Several multifamily developments are in the pipeline already for downtown, and others are expected to be announced in 2022. That means that 10,000 resident goal is within reach.

Aside from just multifamily development, hundreds of millions of dollars’ worth of real estate developments are proposed for the city, several of which will take shape this year. A key one of those is a public park at the former site of Jacksonville Landing. Watch for work to begin at that site in 2022, as well as for a developer to sign on to handle a commercial pad on the site near the Main Street Bridge.

Finally, the city is putting a focus on programming and events designed to foster community in the city and to draw Jaxons downtown. One of the newest of these is Sip & Stroll, which takes place once a month on the Southbank Riverwalk. Events like these will be key component of an overall revitalized and attractive downtown Jacksonville.

Get the full story from the Jacksonville Business Journal.