Friday, January 13, 2017

The Revival of Jacksonville's Greater Arlington Area- Regency Square Mall

In almost every corner of neighborhoods throughout the country, we all have witnessed to some degree, a rebound or "revival"  of what once was a great area that slowly deteriorated and found it's way back.  Of course, as a witness to many neighborhoods and areas that have become sought after areas, many challenges and opportunities are clearly observed during the transition process.  

I personally have seen the optimism and those who are considered winners or losers as a once blighted or challenged area evolves and develops.  During the past few years Arlington(a large swath of the Greater Jacksonville area has seen it's share of up's and downs).  Given the sheer size of
Arlington, I do not suggest that my comments reflect the entire designated area, but many will agree that a large section has experienced problems including increased crime, stagnate property values, and commercial businesses who have bypassed the area for newer and more sought after sections of the city.

One example is the Regency Square Mall area.  In the 60's thru early 80's, this area represented a major draw of shoppers, employment, residential housing and entertainment.  Many middle class families lived in nearby sections of Arlington, where homes were plentiful and was considered a well respected section of Arlington.  By the late 70's, the area appeared to be in decline.  The following years and decades continued to show that the area was in decline and many businesses and homeowners left the area for newer sections that were expanding and offering newer and safer communities to live and work.  the suburban sprawl was in full force and as a result, both businesses and residents were leaving the area.

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THE REVIVAL..........

As Jacksonville has evolved and is now ranked as one of the top cities by Zillow for both affordable and quality living,  investors are quickly moving to identify areas within the Greater Jacksonville area and the Beaches.  Investments that will most likely add to the value and shift many borderline, or once blighted areas are now becoming sought sections of this city.  

Regency Square Mall is a perfect example of a central key investment at the very core of the Arlington area that will have profound changes.  In the 70's, residents from every area of Jacksonville knew this to be the very center of the city.  Today, thanks to investors with deep pockets, it represents yet another shift in where real estate investments are being made and the impact they will provide to both Arlington and Jacksonville.  Single family homes in the nearby area are also increasing in value.  both investors and home buyers are returning to the area.

In summary, as it has been stated in previous articles about the area "the rise and fall" of  Regency Square Mall. In my opinion,  a great deal of investment is now pouring into the area and while it may not be an overnight (short term) success, I am hard pressed to deny that this is an excellent area for medium to long term investment and growth.

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