A recent Storage Cafe report names 3 Florida cities, including Jacksonville, as a hot market for new development. Using Census data, Sun Belt cities top the list in this report with Texas dominating the top 5 spots. The measure for inclusion was around real estate construction from 2013 to 2022.
3 Florida Cities in Top 20
From the Top 20 list, readers will find Jacksonville (#7), Orlando (#1) and Tampa (#15) in the Top 20. Elsewhere in the report, Miami and St. Petersburg get recognized. Here, the methodology looked at building permits for single-family homes, multi-family units and new delivery of square footage. Jacksonville saw 37,000 permits were recorded with 18.7 million square feet of industrial space added and 2.6 million of self-storage. Orlando followed at 8.8 million sq’ for retail space, 22 million for industrial space and 3.3 million for self storage. Tampa rounded out at 3.2 million sq’ of retail, 2.1 million sq’ of self storage and 21.5k multi-family permits.
Jacksonville Shines as a Hot Market for New Development
Residential construction has been working overtime to keep up with the housing needs in Jacksonville. The ~37k permits for single family homes is 4th highest in the 100 biggest urban hubs. Long recognized as a hub for shipping and logistics, the River City hosts one of the busiest seaports in the U.S. An impressive amount of new industrial space added to inventory over the past decade.
A unique blend of awards and data continue to put Jacksonville atop countless lists of best places to live and retire. What I find most impressive is that these findings compare this great city to so many other amazing cities in this country – yet we somehow have not lost the small town feel in Jacksonville. Getting in/out of the city for a concert, sporting event or any other sort of activity is never a major hassle (when compared to so many other metropolitan areas).