DBA Alum, Jacksonville Leader Shaping Downtown’s Future through Experience and Education
For nearly 34 years, Jacksonville has benefited from the presence and leadership of a seasoned professional whose journey from the Panhandle to Northeast Florida has been marked by a unique blend of practical financial acumen and academic excellence.
A native of Fort Walton Beach, Steve Kelley, a Doctor of Business Administration (DBA) graduate in the Davis College of Business and Technology, was among the first business doctoral cohort at Jacksonville University. Earning his MBA from the University of West Florida, his initial role as a credit analyst at Barnett Bank launched a career that would eventually help shape the future of Downtown Jacksonville.
Today, he serves as the director of Downtown Real Estate and Development at the Downtown Investment Authority (DIA), where he works directly with investors and developers to bring transformative projects to life. From local dining establishments like Southern Grounds and Pour Taproom to major developments like the Four Seasons Hotel and the ambitious Pearl Square project, his role involves negotiating incentive packages, underwriting financial returns to the city, and guiding deals through city processes, including the City Council.
“The theoretical aspects of the DBA program conditioned me to think more broadly and to think through and analyze multiple perspectives in complex matters,” said Kelley. “The hands-on approach in my day-to-day activities often requires me to work with ambiguous data to identify the metrics that matter most and incorporate problem-solving techniques that yield the most important insights in decision making.”
The DBA program honed his ability to approach complex challenges with a broadened perspective. While his MBA offered tools for immediate application, the DBA encouraged critical thought, research, and theory—skills he now uses daily at the DIA.
“I see doctoral programs as being about shaping how to think; gathering information, and analyzing data, exploring new concepts and relationships for insights that may lead to meaningful advances in industry or society,” explained Kelley. “Today, I seek out information in different ways and from different sources as a result, and I process that information differently than I would have before undertaking the program.”
Kelley was attracted to JU’s DBA program because it was designed specifically to meet the needs of working professionals. “I immediately contacted the Davis College of Business and soon found myself in the DBA1 cohort. I was between jobs at the time, but my career focus had turned to a niche area of banking centered on tax credits in the capitalization of housing developments for low-and moderate-income families,” he shared. “So, I saw the program as a way to combine my interests and my job search while also positioning me for an opportunity to teach part-time following my eventual retirement.”
This high-stakes responsibility is balanced by his academic commitment as an adjunct professor at Jacksonville University’s Public Policy Institute, where he teaches Microeconomics for Public Policy and Public Finance. Kelley’s real-world insights are a cornerstone of his classroom approach, helping students connect theory with the pressing economic and urban development challenges of today.
As a teacher, he brings more than just textbook knowledge into the classroom. His students benefit from real-life examples drawn from projects currently in progress throughout downtown Jacksonville. Kelley also infuses his courses with concepts from behavioral economics and organizational theory, emphasizing the importance of adaptability, empathy, and realistic economic planning—skills essential for any public policy professional.
Beyond the numbers, he remains committed to mentoring the next generation. He acknowledges the expectations that come with holding a doctoral degree and embraces the responsibility to lead and educate with integrity.
“While achieving my DBA fulfilled a major life goal I’ve held for many years, it was also the start of something else. Having a doctoral degree establishes a level of credibility, but it also sets high expectations about a person’s capabilities,” Kelley stated. “So, it might open doors to working with more junior staff or team members in formal or informal mentorship or leadership opportunities, but that creates a responsibility to demonstrate the legitimacy and validity of holding that degree.”
His journey—from the early days of banking and managing problem loan workouts to orchestrating multi-million-dollar downtown investments—is a testament to the power of combining experience with continued learning.
“The research and analysis we did in the DBA program raised my interest in lifelong learning to new levels, and that continues through my life today, which helps me fulfill those obligations and hopefully demonstrate critical thinking and problem solving at a high level,” Kelley said.
Through his work, Jacksonville isn’t just getting an analyst or professor—it’s getting a visionary who understands how cities grow, what communities need, and how education can help turn plans into progress.