International Airport As Real Estate Speculation

The first new international airport in America in more than a decade is taking form in Florida panhandle. It's part of a broad effort to turn the region into a destination -- and a valuable real estate development.

"Northwest Florida Beaches International, is also noteworthy because it is perhaps more of a real estate project than an effort to address a pressing transportation problem. Backed by a major Florida landowner, it is part of a plan to create 'a new national and international destination,' as one investor presentation proclaims, in a relatively sleepy region of beaches, barrier islands and wetlands.

'Silicon Valley at one point was out in the middle of nowhere,' said Britt Greene, president and chief executive of the St. Joe Company, the Florida developer that donated the land for the new airport and is the driving force behind the project. 'We think we can do the same.'"

The project is costing more than $300 million for what some say is an airport nobody needed. But its developers hope the new facilities will increase air traffic and visitors to the region.

Full Story: Airport Built, It’s Time to See if the Traffic Comes

Comments

Comments

Invest in Everglades Restoration Instead

In one of the most overbuilt states in the United States, developers want more clientele. Investment should be placed in areas like the Everglades, where restoration initiatives are anemic.

As concerns about climate change grow, new airports are the last thing we should be constructing.

building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25
Red necktie with map of Boston

For dads and grads: tie one on to celebrate your city!

Choose from over 20 styles imprinted with detailed city or transit maps.
$44.95

NEW! City Map Posters

Available in 9 different cities.
$25.00
Book cover of Contemporary Debates in Urban Planning

Contemporary Debates in Urban Planning

Featuring thought-provoking commentary and insights from some of the leading thinkers and practitioners in the field.
$18.95