TALLAHASSEE, Fla. (WCTV) – Tallahassee real estate leaders are sharing how the city is developing. <\/p>\n
Ed Murray, the president of NAI TALCOR, said Tallahassee\u2019s commercial economy is not thriving, but not stumbling either. He also believes, popular or not, the city should lean into housing development, for students or otherwise.<\/p>\n
\u201cAnd they want to go where they can walk, where they feel safe, where they\u2019re in new environments, and where their friends above them have gone. That\u2019s why they\u2019re going there. I don\u2019t know where the market stops. There are 40,000 students at FSU, and there are probably 15,000 beds around campus,\u201d Murray said.<\/p>\n
One parcel that is a prime candidate sits on Gaines Street. The 908 group wants to develop what it calls a \u201ctransition zone.\u201d <\/p>\n
Murray says that means one-bedroom apartments that could serve either students or young professionals. The city has agreed to sell two parcels for $11 million<\/a> to create housing and a hotel.<\/p>\n You can see the idea in this packet<\/a> published by the City of Tallahassee in its agenda materials.<\/p>\n More Tallahassee news:<\/p>\n \u201cWe\u2019ve got all the hardware you need in this. We have everything. We have great universities, great people, great infrastructure. Ours is a software problem. We\u2019re having the inability to connect the software and make us great,\u201d Murray said. <\/p>\n Murray is clear: It\u2019s not all rosy. Outside of commercial businesses supported by students, other business sectors are staying flat or even declining.<\/p>\n \u201cJob growth is flat, and we need to acknowledge that and understand that because if you\u2019ve got a problem, the most important thing is to understand it and accept it and figure out what it is, not deny it,\u201d Murray said.<\/p>\n NAI TALCOR\u2019s 6th Annual Commercial Real Estate Market Update is taking place over at The Moon, where bankers, investors and real estate moguls will be briefed on this information. <\/p>\n To keep up with the latest news as it develops, follow WCTV on Facebook<\/a>, Instagram<\/a>, YouTube<\/a>, Nextdoor<\/a> <\/a>and X<\/a> (Twitter<\/a>).<\/p>\n Have a news tip or see an error? Write to us here<\/a>. Please include the article\u2019s headline in your message.<\/p>\n Be the first to see all the biggest headlines by downloading the WCTV News app. Click here<\/a> to get started.<\/p>\n Copyright 2026 WCTV. All rights reserved.<\/p>\n