DVI surveys Downtown residential occupancy rates

The Pennisula
The Peninsula

It should come as no surprise to Downtown enthusiasts that Downtown is becoming one of Jacksonville’s hottest real estate markets, and with more than 600 units under construction, it’s going to get even hotter. With more than 15 living spaces to choose from, Downtown residential complexes include everything from a historic former hotel, The Carling, to The Peninsula, a modern high-rise luxury condominium.

DVI recently polled Downtown living spaces for occupancy rates and are pleased to report a 94% occupancy rate for the 11 residential buildings surveyed. Here are five examples of occupancies Downtown:

You may be asking yourself, why do urban areas including Downtown Jacksonville have such high occupancy rates? According to, cities are now becoming the fastest growing communities compared to the suburbs. Most of these new urban-area residents, known as the Generation Y, are 20-somethings who prefer the city life due to the conveniences and amenities it provides.

The Carling

So what are some benefits of living in Downtown Jacksonville, you ask? Jacksonville’s core boosts more than 90 restaurants, 20 bars and clubs, close proximity to hundreds of workplaces and hundreds of cultural events to enjoy throughout the year. Many choose the Downtown area because of the nightlife, accessibility to entertainment and easy access to high-quality dining without the need to drive.

While DVI’s numbers prove Downtown has a hot residential market with competition to get into the most popular properties, there are several opportunities to grow in the works. Examples of residential projects currently under construction or proposed include 220 Riverside, the Brooklyn Riverside and The Jacksonville Landing‘s proposed addition of residential units.