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Economic Yearbook 2006 - Northeast Florida
Suburban Spurt
Growing businesses and families finding a home in the Jacksonville metro area and adjacent counties.
Jim Burnham embodies two of Northeast Florida's most prominent growth trends. As the owner of the new BoConcept furniture store in the St. Johns Town Center shopping plaza, Burnham has joined a booming market in upscale retail that includes a half-dozen large centers in various stages of development. As a new resident of St. Johns County, Burnham, his wife and two children reside in the ninth-fastest growing county in the country. According to the Census Bureau, St. Johns County grew 6.7% from July 2003 to July 2004.
 Jim Burnham owns upscale furniture retailer BoConcepts in St. John's Conty. The New York City transplant and his family also live in the ningh-fastest growing county in the U.S. |
"We've found a great environment for a growing business and family," says Burnham, who moved from New York City to start his BoConcept franchise.
The success of the sprawling St. Johns Town Center has kick-started similar projects across the region. Not far from Town Center's location on Jacksonville's Southside, West Palm Beach-based Goodman Co. is continuing to develop its 853-acre mixed-use Freedom Commerce Centre. And in Clay County, Buffalo, N.Y.-based Eastbourne Investments recently unveiled plans for a $70-million, 480,000-sq.-ft. complex that will mimic St. Johns Town Center's mix of upscale retail and entertainment.
The region's population growth has a distinctly suburban flair, as St. Johns, Clay, Nassau and Baker counties all report significant increases, while the annual growth rate in Jacksonville/Duval County hovers just above 1%.
Key Newcomer
» The push to redevelop downtown Jacksonville got a much-needed boost when Orlando developer Cameron Kuhn unveiled plans for a sprawling, $350-million project that is slated to include several downtown high-rises. Kuhn's goal: "Change downtown Jacksonville and the riverfront and ignite a new generation of downtown places and opportunities." The centerpiece of Kuhn's vision is River Watch at City Centre. Plans call for a 33-story tower with residential condominiums, first-floor retail, a four-star condo-hotel and commercial space. Kuhn spent much of the last year scooping up downtown property, including the 23-story SunTrust Tower, an office condo project that is part of River Watch, for $37 million and the historic Dyal-Upchurch Building, the city's first high-rise.
