Pensacola’s assessed property value within its Community Redevelopment Area has surged from roughly $550 million in 2005 to several billion dollars today, a transformation that developer Quint Studer attributes to a deliberate sequence of investments rather than chance. Studer, founder of the Studer Community Institute, outlined the framework on a recent episode of Beyond the Build, the official podcast of Associated Builders and Contractors North Florida, hosted by Kelvin Enfinger of Greenhut Construction.
The approach is rooted in a 2005 Gallup study on why communities thrive. Studer obtained the research and distilled three key principles. First, invest in existing local businesses by building their capacity in areas like estimating, project management, and finance, not just craft skills. Communities that skip this step often fail to sustain outside investment.
Second, support startups. Studer has been a first client for startup construction firms and helped small food businesses gain a foothold at Blue Wahoo Stadium. This creates a cycle where startups become the established local businesses that anchor the first principle.
Third, create a vibrant downtown as an economic mechanism. Young workers, the most mobile demographic, prioritize jobs and a compelling downtown when choosing where to live. Blue Wahoo Stadium was deliberately located with limited parking to force foot traffic through downtown, spurring restaurants, retail, and offices. Class A office space expanded by a fourth floor to meet demand, and Studer’s investment in Southtown residential development demonstrated viability, unlocking financing for others.
Studer also addressed resistance to growth through Civicon, a program that brought national experts to address objections. When concerns about gentrification arose, a UCLA expert reframed the issue as a housing supply problem. Harvard researcher John Carter noted that communities today lack the three traditional convening authorities—a dominant employer, a locally owned newspaper, and a locally owned bank—so critical mass of informed voices is essential.
For developers and economic development professionals, the Pensacola case offers a replicable sequence: local business capacity, startup support, downtown activation, and residential density to lock in gains. The assessed value numbers suggest it works.
