Unemployment Dips in Northeast Florida

30 03 2007

Unemployment fell in four of the five counties in Northeast Florida in February compared to a year earlier.

In the five-county metropolitan area — Duval, Clay, Nassau, St. Johns and Baker counties — the unemployment rate was 3.2 percent, down from 3.5 percent in February 2006 and the same as in January.

The statewide rate of 3.3 percent was down from 3.4 percent a year earlier, and unchanged from a month ago. The figures were released Friday by the state’s Agency for Workforce Innovation.

Duval County’s unemployment rate in February was 3.4 percent, down from 3.7 percent a year ago.

The rates in Clay (3 percent), Nassau (2.9 percent) and St. Johns (2.7 percent) counties were all down from a year ago. Baker County’s 3.1 percent rate was up from 3 percent a year ago.

The number of nonagricultural jobs in the Jacksonville metro area in January was 635,000, up by about 6,000 from a year ago.

Source: Jacksonville Business Journal

Advertisements




Unemployment Dips in Northeast Florida

30 03 2007

Unemployment fell in four of the five counties in Northeast Florida in February compared to a year earlier.

In the five-county metropolitan area — Duval, Clay, Nassau, St. Johns and Baker counties — the unemployment rate was 3.2 percent, down from 3.5 percent in February 2006 and the same as in January.

The statewide rate of 3.3 percent was down from 3.4 percent a year earlier, and unchanged from a month ago. The figures were released Friday by the state’s Agency for Workforce Innovation.

Duval County’s unemployment rate in February was 3.4 percent, down from 3.7 percent a year ago.

The rates in Clay (3 percent), Nassau (2.9 percent) and St. Johns (2.7 percent) counties were all down from a year ago. Baker County’s 3.1 percent rate was up from 3 percent a year ago.

The number of nonagricultural jobs in the Jacksonville metro area in January was 635,000, up by about 6,000 from a year ago.

Source: Jacksonville Business Journal





New Home Sales Fall in February

27 03 2007

The Commerce Department reported that sales of new single-family homes in the United States fell sharply for a second consecutive month in February, dropping 3.9 percent to a seasonally adjusted annual rate of 848,000, a weaker-than-expected performance and the slowest sales pace in nearly seven years. All regions of the country except the West experienced weakness last month.

Last month existing home sales in Florida continued to show a more sustainable pace of sales in February while still-low mortgage rates sparked buyer interest, according to FAR. Statewide sales of single-family existing homes totaled 10,779 in February for a 23 percent decrease compared to February 2006. The statewide existing
home median sales price was $235,500.

The February decline followed an even larger 15.8 percent drop in sales in January, which had been the largest one-month plunge in 13 years. The back-to-back declines provided evidence that the housing market is continuing to struggle with lagging demand and a glut of unsold homes.

Source: The Associated Press





16:Flat Condominiums in Downtown

27 03 2007


Almost three years ago, a group of friends set out to offer an inside view of the design process that leads to engaging architecture.

The result was Gallery Thirteen, a conceptual building that would be nestled in a sliver of a space between the old Downtown library and the 11 East Forsyth apartment tower. Its unconventional size, emphasis on furthering the city’s cultural scene and rooftop amphitheater and gardens brought it public and professional acclaim among those interested in Downtown revitalization.

Though the group of friends, consisting of architects and designers at Rink Design Partnership Inc., never intended to build the art gallery they conceived, the project has led to something more tangible.

16:Flat is a 16-unit condominium building planned for 0.19 acres at the corner of Liberty and Duval streets in the Cathedral District of Downtown.

The same friends and coworkers from the gallery exercise have formed 13 Minute Productions LLC, an investment group that designed the $5 million project and has a contract to buy the property pending design approval from the city.

A spirited and creative group whose ages range from 26 to 44, the five partners live or work Downtown and want to see neighborhoods such as the one their project is slated for provide “diverse living opportunities.”

Their modern five-story building has its parking deck on the first floor and a rooftop garden and common area. Its perimeter is gated, and its urban design features include floor-to-ceiling glass windows, open floor plans and wood floors.

Unit prices will range from the mid $200,000s to the low $400,000s, with the most inexpensive condominiums intentionally filling a price niche that recent luxury developments have overlooked in part due to rising land prices.

Partner Logan Rink declined to reveal how much 13 Minute Productions will pay for the parcel, but said the group’s design skills allowed it to use every possible inch of land.

Partner Mike Kleinschmidt hopes potential buyers — probably young professionals or empty-nesters — will appreciate the use of interesting materials and the overall feel of the property.

“The challenge is to design with the materials that excite you, but that’s something the market will absorb,” Kleinschmidt said. “You want it to be a place you’d like to live.”

The likelihood that other urban dwellers will want to live there could be high, since there are only a handful of infill projects on the Northbank. Few, if any, are in new buildings whose design is expected to reach a broad group of potential homebuyers.

Source: Jacksonville Business Journal





New Home Sales Fall in February

26 03 2007

The Commerce Department reported that sales of new single-family homes in the United States fell sharply for a second consecutive month in February, dropping 3.9 percent to a seasonally adjusted annual rate of 848,000, a weaker-than-expected performance and the slowest sales pace in nearly seven years. All regions of the country except the West experienced weakness last month.

Last month existing home sales in Florida continued to show a more sustainable pace of sales in February while still-low mortgage rates sparked buyer interest, according to FAR. Statewide sales of single-family existing homes totaled 10,779 in February for a 23 percent decrease compared to February 2006. The statewide existing
home median sales price was $235,500.

The February decline followed an even larger 15.8 percent drop in sales in January, which had been the largest one-month plunge in 13 years. The back-to-back declines provided evidence that the housing market is continuing to struggle with lagging demand and a glut of unsold homes.

Source: The Associated Press





16:Flat Condominiums in Downtown

26 03 2007


Almost three years ago, a group of friends set out to offer an inside view of the design process that leads to engaging architecture.

The result was Gallery Thirteen, a conceptual building that would be nestled in a sliver of a space between the old Downtown library and the 11 East Forsyth apartment tower. Its unconventional size, emphasis on furthering the city’s cultural scene and rooftop amphitheater and gardens brought it public and professional acclaim among those interested in Downtown revitalization.

Though the group of friends, consisting of architects and designers at Rink Design Partnership Inc., never intended to build the art gallery they conceived, the project has led to something more tangible.

16:Flat is a 16-unit condominium building planned for 0.19 acres at the corner of Liberty and Duval streets in the Cathedral District of Downtown.

The same friends and coworkers from the gallery exercise have formed 13 Minute Productions LLC, an investment group that designed the $5 million project and has a contract to buy the property pending design approval from the city.

A spirited and creative group whose ages range from 26 to 44, the five partners live or work Downtown and want to see neighborhoods such as the one their project is slated for provide “diverse living opportunities.”

Their modern five-story building has its parking deck on the first floor and a rooftop garden and common area. Its perimeter is gated, and its urban design features include floor-to-ceiling glass windows, open floor plans and wood floors.

Unit prices will range from the mid $200,000s to the low $400,000s, with the most inexpensive condominiums intentionally filling a price niche that recent luxury developments have overlooked in part due to rising land prices.

Partner Logan Rink declined to reveal how much 13 Minute Productions will pay for the parcel, but said the group’s design skills allowed it to use every possible inch of land.

Partner Mike Kleinschmidt hopes potential buyers — probably young professionals or empty-nesters — will appreciate the use of interesting materials and the overall feel of the property.

“The challenge is to design with the materials that excite you, but that’s something the market will absorb,” Kleinschmidt said. “You want it to be a place you’d like to live.”

The likelihood that other urban dwellers will want to live there could be high, since there are only a handful of infill projects on the Northbank. Few, if any, are in new buildings whose design is expected to reach a broad group of potential homebuyers.

Source: Jacksonville Business Journal





River Watch at City Centre to Light Up Downtown

22 03 2007


SunTrust Tower/River Watch at City Centre Commercial Condominiums is bringing bright lights to the big city.

As part of an ongoing effort to jump start Downtown development, Kuhn Cos. spent approximately $75,000 to install nine horizontal strands, each 60 feet long, on the side of the SunTrust tower that faces the St. Johns River. The colored lights will be used to celebrate national holidays, events like Jacksonville Jaguar games and other community causes, said Kuhn Cos. President David Dix.

“We want to set this block off as the beginning of the Jacksonville renaissance,” Dix said.

The infrastructure for the fiber optic lighting system was added while the 18-year-old building was still under construction, but it was never used by the former owners. It wasn’t until after Kuhn acquired the building for $37 million in 2005 that Dix discovered the lighting infrastructure along with space beneath the building that could be extended into an underground tunnel to the vacant lot next the building on Laura Street. That space was intended to be a tunnel to a twin building that was never built.

The space will come in handy, Dix said, as he hopes to begin construction in September on the SunTrust’s sister building on what is now a parking lot, but will become 33 stories with hotel condominiums, retail and commercial space.

Kim Ellis, director of sales and marketing at Kuhn, said the lighting system is modeled after the Empire State Building’s system in New York City. Like the system on the Empire State Building, the lights on the SunTrust building will also serve as community outreach with lighting partners. Organizations can become lighting partners by submitting an application to Kuhn to request specific colors. Applicants will not be charged a fee.

Ellis said she hopes to have two to three different lighting schemes each month.

The lights were scheduled to be lit for the first time March 21 to commemorate Kuhn’s relationship with Colliers Dickinson, which is the agent in charge of the sales and leases at River Watch at City Centre.

Source: Jacksonville Business Journal








%d bloggers like this: