Real Estate forecast from Ed Burr

How are developers coping with shortages of close-in land? How far out might the Jacksonville market ultimately extend?

LandMar has always been comfortable being on the leading edge. We paved the way, for example, on Baymeadows Road with Hampton Glen, which at the time was viewed as a far-removed location. Jacksonville will continue to expand geographically as we continue to be a major job-growth market. Having said that, LandMar continues to explore various in-fill sites that take full advantage of existing infrastructure and established community support services.

Why have large, mixed-use developments become so dominant in Northeast Florida?

As the market grows and expands, land becomes scarcer. It makes sense to take advantage of the economies of scale that larger master-planned, mixed-use developments can offer by creating cohesive communities that provide greater value and lifestyle variety.

Where will the next development hot spot be?

Most major markets have traditionally expanded toward their airports as they have grown. That phenomenon is happening now on the Northside. LandMar has led the way off Amelia Island in Nassau County with North Hampton. We see that being the next hot area in Northeast Florida. The southern Clay County market will continue to expand as well.

What do you think are the three crucial components of a successful community?

Great planning, great amenities and great value. Our definition of value is exceeding buyers' expectations by delivering more for their dollar than they anticipated.