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Jacksonville Real Estate Market Labeled a “Ville” to Watch

By Siddharth Mariappan

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The 2016 “Emerging Trends in Real Estate” report of the Urban Land Institute (ULI) finds Jacksonville’s real estate market continues to improve, to the point that it is now considered a “ville” to watch.

What is a “ville”? According to the ULI annual trends report, done by ULI with the PricewaterhouseCooper tax and advisory service, the “villes” are loosely defined to be markets such as Nashville, Knoxville, Gainesville and Jacksonville, with these characteristics:

“The “villes” are seen as offering opportunities to take advantage of faster-growing demographics, economies, concentrations in desirable industries, and, in many cases, aggressive development plans to establish growth centers within the community. A number of these markets appear to offer benefits similar to key 18-hour cities: growing urban centers, good in-migration (specifically among desired workers), attractive quality of life, and a lower cost of doing business.”

And the range of industry experts, including investors, fund managers, developers, property companies, lenders, brokers, advisers, and consultants, who participated in the survey expressed interest in the “villes.”

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