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You may have seen it for decades on bus shelters, lawns, basketball courts, flyovers, roofs and overpasses. Perhaps you’ve been to Jacksonville lately. If so, you know that development can often be a tricky task to navigate. Property values range from steeply to attainable levels, and demand for housing has increased. But even with all the complaints, locally-based investor Christopher Stone maintains that development “will become a reality someday,” according to the Jacksonville Daily Record. Stone most recently sold the Pitkin Square Apartments to developer who plans to build a large, upscale development of 203 multifamily residences plus apartments. The neighborhood is called the “Bayfront” and is famous for its restaurant, sports bar and music venue. Stone has said that development should become possible at least by 2040, and aims to grow the neighborhood to be the third largest in North America. It will be key to Stone’s plan to bring nearly 5,000 new residents to the area, which is home to major business and educational institutions, including St. Johns County’s Jax Museum. Stone’s plan also includes a performance by musicians, fresh seafood at Palatka Harbor, and municipal government officials embracing the goal of diversity within the neighborhood. Will someone in this case look up development issues from the 70’s? Should we keep an eye on development in Jacksonville?
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