Partner Patrick Krechowski Discusses Real Estate Trends in Interview Broadcasted on Jacksonville’s WJCT News

Patrick Krechowski, partner in the firm’s Jacksonville office and member of the Real Estate Practice, interviewed with WJCT News about north Florida real estate trends in a segment featured on First Coast Connect.  

In the segment, broadcasted on January 25, Patrick also discussed the growth of the north Florida market and a new report outlining emerging trends in real estate, published by the Urban Land Institute (ULI). Patrick is North Florida District Council Chair for ULI. 

Patrick explained why 2023 will be an interesting year in the market, noting the rising cost and availability of materials, labor and land. 

“It’s going to be an interesting six months,” Patrick told WJCT. “Things will probably start picking up in the third and fourth quarter. But, I think a lot of people in the first half of the year are going to be waiting to see what happens, and what other people do and whether we get another couple interest rate hikes and what that does for everybody.”

The new ULI report examined issues including housing affordability and sustainable building.

“Labor costs are up,” Patrick said. “Labor availability is tough. Material costs are up, and again availability is tough. But, what we also see is that there are a number of other factors that impact affordability or attainability. And that can be as simple as, is this place that you call affordable or want to be affordable- is it affordable to get to work and to get home? Is it affordable to get to school? Is there a grocery store nearby?”

Patrick also highlighted his involvement with ULI’s technical assistance program, which utilizes the organization’s national resources to help local communities solve difficult development problems.

“Our goal is to conduct research and to educate,” Patrick said. “Affordable housing is a huge pillar of ULI’s national mission and so our objective is to let people in this community know what resources we have… to help folks understand these problems, understand where the solutions may be- whether that’s funding or advocacy or simply education. And then bringing real recommendations that we’ve seen work in other communities and applying them to the unique circumstances here.”

Patrick has over 20 years of experience in real estate, land use, environmental, governmental, administrative litigation, appeals and title insurance law. Patrick is Board Certified by The Florida Bar in City, County and Local Government Law. His practice focuses on all aspects of zoning and land use law, real estate due diligence, environmental permitting (including sovereign submerged lands and riparian rights), environmental remediation, water use permitting and planning, beach nourishment projects, coastal construction and due diligence before local governments and federal/state agencies, including associated administrative and civil litigation.