John Orlando on The Housing Market Growth and Commercial Development Highlights 12 Consecutive Months in the Greater Orlando Markets

He writes:

If you've read the news or driven around the Greater Orlando Area, there's no denying the fact our city is growing rapidly. What's fueling our extensive growth? Well, there are several factors and it would take too long to list. However, we can highlight such factors as local economic development commissions, public officials, local corporations, and developers have invested a significant amount of time into the foundation and development of the 24th largest city in the US. Now that we are completing the perimeter freeway, an additional airport concourse, expanding the Sun Rail, and widening I-4, I'm willing to bet the 20th largest city ranking in the US is within reach.

Looking Back a Few Years:

During the recession, we suffered greatly in the Orlando markets as the "Big Short" on Wall Street put us in a pickle with excess inventory of delinquent housing & commercial space. It didn't matter if you were a young professional or the most experienced investor, you felt the impact. We all knew coming out of this recession was inevitable... The big question was were local public officials and economic development organizations placing the right foundation, platform, and tax incentives in place to attract big business for future growth. The answer is YES, as our city is one of the leading cities in the country as new industries to our market evolve, tourism surges, educational institutions thrive, and construction jobs grow weekly.

What Industries are Evolving or Growing:

Orlando is the world capital of Modeling, Simulation & Training (MS&T) and the top producing region for engineers in the Aviation, Aerospace & Defense industry. As the nation’s newest hub for Advanced Manufacturing, Orlando is home to the world’s first international consortium for advanced manufacturing and research. Life Sciences & Healthcare are growing here at exponential rates with more than 92,000 jobs and growing. Orlando's Innovative Technologies industry, with an ecosystem that includes the Southeast’s largest tech meetup, is comprised to 2,600 companies with an average wage of $70,000. Source: http://www.orlandoedc.com/Industries.aspx

Major Housing & Retail Projects: Seminole County & Lake Nona

Lake Nona captures headlines every week as existing neighborhoods are full of new construction. Plus, more than 10,400 homes are slated within two developments in the area over the next year. Retail projects such as Lake Nona Landing is building just under 1/2 million square feet of retail shoppes, restaurants, and office space. Not to mention other development groups working on numerous projects. Lastly, the USTA (Tennis) is building their headquarters at Lake Nona and the Medical City is full in stride towards its' vision.

Seminole County is also seeing significant housing, retail, office space, and even emergency care development. Within the Sanford and Lake Mary areas, you can see pockets of woods being prepped for new home development, existing shopping plazas renovated to bring in popular retail establishments, new construction up and down International Parkway, land developed adjacent to the Sun Rail, large pieces of land off 17-92 being cleared for new large housing project, and the list keeps going... As a resident, the most notable for the Lake Mary/Sanford Area is the thousands of professional jobs continuing to arrive on International Pkwy as Deloitte, CNA (Insurance), Jeunesse Global, and other companies sign long term leases.

The Future of our Economy:

Any economist can tell you that the health of the economy is dependent on deregulation, tax incentives, and the international markets impact on the US. That's a very broad statement as well as the fact that everything in life is cyclical ranging from happiness to the economy. Given the infrastructure, development of diverse industries and appeal to world travelers for our theme parks, you can feel comfortable that Orlando is a solid long term investment and a great place to call home.

Any questions or suggestions can be submitted to: john@johnorlandoteam.com

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