“It was a pretty big stepping stone for Corner Lot to branch out and create FCREP,” Studebaker said, “Which is really the financing arm to help take advantage of the opportunities that are coming out of the pipeline and core a lot.”
Studebaker said without a dedicated fund, developers “have to kind of judiciously go out and raise money on a project-by-project basis, which can work out fine. But there actually is not a lot of scale benefits in doing this. So by coming in and creating a fund, you’re providing a more ubiquitous access to capital in a much more efficient way.”
We’re diving into the specifics of the fund’s purpose, the projects underway, and how Jacksonville’s consolidation factors into the ease with which developers can move.Kent Justice co-anchors News4Jax's 5 p.m., 6 p.m., 10 p.m. and 11 p.m. newscasts weeknights and reports on government and politics. He also hosts "This Week in Jacksonville," Channel 4's hot topics and politics public affairs show each Sunday morning at 9 a.m.
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