JACKSONVILLE, Fla. – Downtown Jacksonville is continuing its transformation, with more than 9,000 people now living in the urban core and $7 billion in projects planned or underway, according to the 2025 State of Downtown Report from Downtown Vision, Inc.
The annual report tracks key indicators including development, residential growth, office market trends, tourism and infrastructure, offering a snapshot of how the city’s core is evolving.
Recommended Videos
Residential growth continues
The report shows downtown’s residential population reached 9,228 in 2025, marking a 97% increase since 2016. Occupancy remains high at 96%, with more than 1,500 residential units currently under construction.
The continued growth reflects a broader push to make downtown a more livable, mixed-use area rather than a primarily office-centered district.
Downtown Vision, the nonprofit business improvement district for the city’s urban core, tracks economic and development trends each year. This year’s report reflects activity from January through December 2025.
Billions in development underway
Downtown Jacksonville is seeing a surge in investment, with about $7 billion in projects in the development pipeline. That includes projects that are completed, under construction, approved or proposed, signaling long-term investment across multiple sectors.
Among the most prominent is the Gateway Jax Pearl Square project, a nine-block mixed-use redevelopment designed to transform underused parts of downtown into a full neighborhood with apartments, restaurants, retail space and public areas.
The Four Seasons Hotel and Residences project is adding a luxury hotel, condominiums and marina along the riverfront, while the planned renovation of EverBank Stadium — often referred to as the “Stadium of the Future” — is expected to modernize the city’s NFL venue and surrounding district.
RELATED: Pearl Square to bring apartments, restaurants, beer gardens & jobs to Downtown Jacksonville
The report also highlights continued investment in education and healthcare, including a new University of Florida graduate campus downtown and a major expansion by Baptist Health. Together, those projects are expected to bring jobs, students and additional activity into the urban core.
Tourism and public spaces drive activity
Downtown Jacksonville is also seeing increased foot traffic and tourism.
The report shows 19.7 million visits in 2025 across 3,195 events, drawing more than 5.3 million attendees. That activity contributed 4.3% of the city’s property tax revenue, 32% of hotel tax revenue and 8% of sales tax revenue.
Those figures highlight downtown’s role as a regional destination for events, entertainment and tourism.
Several riverfront park projects were completed or improved in 2025, including Riverfront Plaza, Friendship Fountain and parks at RiversEdge. Those investments are part of a broader effort to activate public spaces and make downtown a destination beyond the traditional workday.
RELATED: After years of delays, this empty Southbank riverfront site could finally transform
Office vacancies remain elevated
But while many indicators point to growth, the report shows downtown Jacksonville continues to face challenges in its office market.
Data included in the report indicates downtown office vacancy rates remain elevated at roughly a quarter of available space in 2025, according to charts in the report, though that figure has declined slightly from the previous year.
The report does not identify a single cause for the elevated vacancy rates and does not include a detailed analysis of the trend.
However, the data suggest that while residential population and visitation are increasing, demand for traditional office space has not fully rebounded.
Projects aim to create a more active downtown
A number of ongoing projects are aimed at reshaping how downtown Jacksonville is used on a daily basis.
In addition to large-scale developments, smaller adaptive reuse and redevelopment projects are also underway.
These include the restoration of historic properties like Snyder Memorial Church and the redevelopment of the Greenleaf building, a historic structure being converted into a mix of office space, dining and shared amenities.
The Museum of Science and History (MOSH) is also planning a new facility along the riverfront as part of a long-term relocation effort.
Together, these projects are designed to bring more residents, workers and visitors into downtown and create a more active, around-the-clock environment.
Leaders point to continued momentum
Downtown Vision officials say the combination of residential growth, new development, and increased visitation reflects continued progress.
“Downtown Jacksonville is no longer a future conversation. It is happening right now, and the momentum is undeniable,” said Colin Tarbert, CEO of the Downtown Investment Authority.
“With cranes in the air across multiple project sites and growing alignment among partners, growth is unmistakable,” said Jake Gordon, CEO of Downtown Vision.
The full 2025 State of Downtown report is available online through Downtown Vision’s website.