More than $6.5 billion in pipeline projects signal downtown Jacksonville’s shift from potential to reality (Courtesy of the Jacksonville Business Journal) — Downtown Jacksonville isn’t talking about transformation anymore — it’s showing it.
Construction cranes, packed event calendars and record-setting investment levels now define the urban core, signaling a shift from years of incremental progress to a full-scale resurgence fueled by public-private partnerships and renewed institutional confidence.
A new State of Downtown report from Downtown Vision Inc. captures the scale of that momentum: more than $2 billion in projects either completed or underway, nearly 9,000 residents calling the urban core home and major commitments from anchors such as the University of Florida, Baptist Health and the Jacksonville Jaguars.
The report, released Nov. 19, outlines how housing growth, infrastructure upgrades, hospitality expansion and a wave of park and mobility projects are converging to reposition Downtown Jacksonville as a competitive economic engine for the region.
As Mayor Donna Deegan put it, downtown is now “a reality in motion” — a sign that the city’s long-promised renaissance is beginning to materialize across its neighborhoods.
Housing market nears 10,000 downtown residents
Downtown Jacksonville is quickly evolving into a full-fledged neighborhood as new residents fill towers, townhomes and adaptive-reuse projects across the core.
Downtown now has 8,941 residents and 5,665 residential units, capping a five-year period in which 1,766 units have delivered. The Downtown Investment Authority has set a goal of 8,140 multifamily units by 2030, with the current pipeline and acceleration of construction suggesting that benchmark is increasingly within reach.
Residential growth is fueled by both new construction and adaptive reuse. Flagship developments include:
- RiversEdge: Life on the St. Johns — more than 950 residential units, four acres of parks, river access and a central riverfront park; first residential phase delivers in spring 2025.
- Pearl Square — a multiphase development with more than 1,000 units and the Northbank’s first Publix grocery store, set to open its first phase in 2026.
- One Riverside Avenue — anchored by Whole Foods, with more than 390 apartments and 39,000 square feet of riverfront retail.
These projects collectively reshape both the skyline and resident experience, adding daily foot traffic and enhancing walkability through new green spaces, street-grid conversions and connected commercial corridors. The report notes that 91.6% of downtown residents “like or love living Downtown” and more than half say the area has improved since they moved in.
Downtown’s retail and dining market gains momentum
Retail activity is becoming a key driver of downtown Jacksonville’s resurgence as new concepts open and incentives draw more operators to the urban core. Downtown now hosts roughly 1 million square feet of retail space, with market asking rents of $19.24 per square foot. Eleven new restaurant openings in 2025 signaled the market’s renewed energy, supported by incentive programs aimed at lowering build-out costs and attracting restaurateurs to targeted corridors.
DIA’s suite of retail incentives — including Retail Enhancement Programs, Food & Beverage REP and the Waterfront Restaurant Program — are designed to boost restaurant clusters, modernize older buildings and increase ground-floor activity across the core. Projects such as the Whole Foods-anchored One Riverside Avenue and the restaurant-lined corridors in Brooklyn and City Center are accelerating that shift.
A slate of new establishments is planned or under construction, including Starbucks, ALDI, Norikawa, Oak Steakhouse Jacksonville, Baby Got Brunch, multiple bars and speakeasies and the Publix-anchored retail at Pearl Square.
Office market stabilizes amid hybrid shifts
Despite national headwinds, downtown Jacksonville’s office sector is stabilizing as employers continue to anchor operations in the urban core.
The district contains more than 8 million square feet of office space, and while vacancy peaked at 26.1% in 2023, it improved to 25.7% in 2024 and edged down again to 25.5% by the second quarter of 2025. Market conditions remain heavily influenced by high interest rates, elevated construction costs and the long-term shift toward hybrid work.
Roughly 36% of downtown employees now follow a hybrid schedule, according to annual survey data — a pattern that mirrors national workplace trends and continues to shape leasing decisions. To help attract and retain tenants in this environment, the Downtown Investment Authority’s Commercial Revitalization Program offsets parking expenses for companies signing new leases, a targeted incentive meant to ease occupancy costs and support office activity.
Even with a challenging national landscape, downtown Jacksonville remains a hub for major employers across finance, insurance, health care, professional services and government. In total, the district supports more than 46,800 workers, underscoring its role as a central employment engine for the region.
Tourism, hospitality and entertainment surge
Strengthening visitor demand and new hotel investment are accelerating downtown Jacksonville’s hospitality market, underscoring its growing role as a regional destination. Tourism indicators show sustained momentum, with 837,762 annual overnight guests, an average of 53,882 daily visits and nearly a 10% increase in total visits compared to early 2024.
That demand is fueling a construction wave across the lodging sector.
The flagship project is the 170-room Four Seasons Hotel and Private Residences — Downtown’s first five-star property — which will feature 26 luxury residences, a 6,000-square-foot marina building and more than $387 million in total investment, including a $4 million, 20-year commitment to Metropolitan Park. Additional hotel activity includes the 128-room AC Hotel Brooklyn, representing a $32 million investment, and multiple boutique concepts taking shape within the RiversEdge development and the restored Ambassador Hotel.
Entertainment activity is surging alongside tourism and hotel growth.
Downtown hosted 2,990 events in 2024, drawing nearly 3.8 million attendees across concerts, festivals, sporting events, expositions and performing arts. Those events continue to deliver year-round foot traffic, filling hotels, driving restaurant sales and reinforcing downtown’s position as a lively, high-impact economic engine for the region.
Parks and mobility investments reshape the urban core
Downtown Jacksonville is undergoing a sweeping reimagining of its public spaces and transportation network, with major park and mobility investments strengthening the urban core’s appeal to residents, businesses and visitors. Nowhere is that transformation more visible than along the riverfront, where a series of high-impact projects is redefining how people connect with the St. Johns and move through the city.
Friendship Fountain, which reopened in 2024, has quickly become a daily draw with an average of 1,100 visitors. Nearby, work continues on Riverfront Plaza, the seven-acre signature park designed to anchor the Northbank with a playground, river terrace, pavilion and iconic public art. The Emerald Trail — a $184 million, multi-phase greenway — is simultaneously stitching together neighborhoods across the urban core, while the restoration of McCoys Creek represents more than $113 million in environmental improvements, flood mitigation, new trails and kayak access.
Mobility upgrades are advancing in tandem with park development. The city is expanding its bike-ped network, widening sidewalks and converting key corridors — including Adams and Forsyth streets — from one-way to two-way traffic to improve safety and support ground-floor retail activity. These changes are intended to make downtown more navigable and better positioned for long-term commercial growth, city planners say.
One of the most significant innovations is the Neighborhood Autonomous Vehicle Innovation project, launched in June 2025 as the nation’s first fully autonomous transit loop. Operating along a 3.5-mile route connecting the sports district with the central business district, the NAVI system demonstrates how technology and urban planning are converging to create a more efficient, connected Downtown.
A downtown entering its next phase
With more than $6.5 billion in projects completed since 2024 or moving through the development pipeline, downtown Jacksonville is transitioning into a new phase marked by visible progress rather than long-term aspiration. The surge in residential construction, coupled with major investments in parks, infrastructure, higher education, health care and mobility, signals a fundamentally stronger urban core taking shape.
These layers of development — from riverfront parks to autonomous transit, from high-end hotels to large-scale academic campuses — are collectively redefining downtown’s competitiveness and long-term economic trajectory. The momentum captured in the report points to an urban center no longer waiting on a renaissance but actively experiencing one.
As Deegan noted, all of this activity is contributing to “a downtown that is connected, accessible, and alive,” strengthening the city’s position as a growing civic, cultural and economic hub for the region.
Photo courtesy of Ron Whittington