Spotlight On: Spencer Calvert, President, The Pineapple Corp.

Spotlight On: Spencer Calvert, President, The Pineapple Corp.

2022-11-01T11:44:02-04:00November 1st, 2022|Jacksonville, Real Estate, Spotlight On|

2 min read November 2022 In an interview with Invest:, Spencer Calvert, CEO of The Pineapple Corp., talked about the current landscape of Jacksonville and the impact interest rates are having on the housing market. Calvert also shared what trends he is seeing in terms of amenities people want for their homes and what role housing generally plays in the economic growth of a region. 

What is your overview for the current market opportunities in Jacksonville? 

The message that is being pushed with residential real estate right now is uncertainty after years of record price growth. Inflation, interest rates, inventory and more are reshaping the Florida housing market. Our price point is considerably higher than anything near the median price point. While interest rates don’t directly impact those buying decisions as much, the overall tone is negative when it comes to making a large home purchase decision. I believe we are going to have some challenges nationally in residential real estate over the next two to three years. However, the demand throughout the state of Florida and in Northeast Florida will remain strong. We are fortunate that our current leadership is vigorous in motivating businesses and individuals to move to the area and showing them that it is a great place to live.   

What amenities and features are your clients currently looking for? 

Because we focus on a high-end market place, high-end kitchen appliances are always important and we often work exclusively with high-end brands. One major shift we have seen throughout the pandemic is that people are wanting to spend more on their outdoor spaces. Pools in Florida have always been of significance, but the percentage of homes with pools has  doubled over the last few years as people were stuck in their homes and had more time to evaluate their living environment. That has led to a trend of homeowners looking at their outdoor spaces and adding summer kitchens, outdoor entertainment spaces and more. 

Another thing we have seen from a design perspective is people moving away from the open floor plan concept and large rooms with multiple uses. They see a need for more designated areas, especially as people work and go to school from home. That need for connection is still there but the ability to focus and concentrate and have a higher level of privacy outside of the bedroom is desired. 

What would you say is the role of your industry in the region’s economic growth? 

It is incredibly important. A home purchase is typically the largest purchase an individual will make in their lifetime. New homes and affordable homes are incredibly important, and  affordable housing is a major challenge across the nation. This issue will continue to be challenging unless the local government changes the way zoning has been viewed for multiple generations. 

What are some new projects that you are excited about?

Our primary focus is a project that we have in Nocatee, a master-planned community to the south of Jacksonville. Nocatee is ranked top five in the nation and has been top in terms of sales activity for years. We have a high-end gated community in Nocatee called The Vista at Twenty Mile and the level of interest we have seen in that community has been unbelievable. We have seen an influx of relocation buyers from markets significantly more expensive than ours. They appreciate the value available in Nocatee as compared to northern and other overvalued housing markets. 

What are some of the pressing infrastructure needs that you are seeing? 

From the Duval County perspective, we’ve tried to promote the downtown area for years. Jacksonville has a phenomenal downtown but it needs attention. That said, it does seem like downtown Jacksonville is starting to get the attention it needs. We’re starting to drive the concept of affordable housing being closer to the core and utilizing to a higher degree the existing infrastructure within the core. 

St. Johns County has been a bedroom community to Jacksonville for many years. When it comes to infrastructure, we need to bring the leadership up-to-date that the current infrastructure is not able to meet the required needs. My hope is that they embrace being part of the Jacksonville Metro Area to the benefit of taxpayers and voters that would otherwise be impacted. 

For more information, visit: 

https://thepineapplecorp.com/ 

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