It might be uniquely due to this time of year, summer, when tourists visit Florida for vacation. It might be due to the continued migration of folks from other parts of the country (and the world) looking for a place to live in the Sunshine State. It might be due to the vast miles of oceanfront coastlines that border the state of Florida. It might be due to the popularity of Disney. Or it might just be due to the spirit of economic opportunity felt high and wide throughout the region. Whatever it is, Florida seems to be popular these days. Maybe not quite as popular as California or Texas in terms of land acquisitions, but everywhere you look it seems like there is development, demand for housing, infrastructure expansion, or improvements underway. Those sounds of a nail gun tapping away at plywood sheathing during new home construction have become as familiar as some forms of pop music. It has not always been like this. And as a Florida resident I must pay attention to the growth as I am directly impacted in more ways than one.
In my hometown of Jacksonville, FL, I was recently informed through a member of the Chamber of Commerce that more people are moving to Jacksonville from other parts of Florida than any other major metropolitan in the state! Wow. My first reaction was: “why?” Maybe it is because Jacksonville has more land area than most other metropolitan areas in the country. Maybe it is because of our laid back, paddleboarding, beachgoing, somewhat southern hospitality with excellent healthcare facilities. Maybe it is because we have an NFL team with a great team owner. Maybe it is all the above and more.
I am certainly not an investment advisor, nor am I permitted by law to act as one. However, in my field, I can participate in providing professional opinions of value for certain land properties through comparative analysis as well as through land investment analysis. Real estate investments and certain opportunities require an analysis of highest and best use. I always see a land property as what it could be, not what it currently is or was in the past.
In north Florida, the popularity of downtown Jacksonville investment might not be the same as Miami Brickell at this point, but I have noticed significant progress and change. I love Miami, and I mention to friends and colleagues all the time in passing that it might not happen in my lifetime (say in the next 50 years), but downtown Jacksonville will eventually grow even more with investment and popularity. There are many exciting projects and plans in the pipeline for downtown Jacksonville that I am not even aware of. The Downtown Investment Authority has a lot on their plate, and I am not the political type but it is thrilling to experience this. I feel like sometimes I am a part of this community witnessing history. I feel like I am often part of something greater than myself simply by living here.
Whether it is thirty acres needed for a homestead, an acre needed for a small residence, twenty acres needed to develop luxury apartments, or two acres for a new tower downtown, there is investment opportunity in Florida. If they run out of land in Miami, just come a little bit north to Jacksonville. You will not be disappointed you did!