According to a release out of Creative Village, funding has come through for their first market-rate apartment building. SunTrust Robinson Humphrey has arranged a $66 million loan for The Allen Morris Company and Ustler Development, Inc, the team behind the estimated $108 million Creative Village Parcel M Apartments project. This specific project consists of a Class A, 14-story, 409-unit market rate...
Plans have been filed to build a new 19-story mixed-use tower in Downtown Orlando anchored by a 256-room luxury hotel. The hopeful new hotel would be a Radisson Blu brand which they describe as “upper upper scale” with a “yes I can” service philosophy. This, if approved, would be one of the first Blue hotels in the country, following Chicago and Minneapolis. The site in question includes 319...
If you plan on buying a home in Orlando, now is apparently the time. Forbes recently announced that Orlando is currently the best city in the nation to buy a home, due to prices increasing by 9 percent in 2017. Citing Local Market Monitor, a website that tracks housing markets, Forbes says home prices in Orlando are projected to increase by 35 percent over the next three years. This puts the City...
Florida is an intriguing state when it comes to buying and owning rental property. On one hand, demand for homes — especially single-family homes — has been consistently on the rise in Florida. Yet despite the demand, it doesn’t necessarily convert to more homebuyers. Instead, even though Florida boasts fairly low housing prices statewide, many people are still opting to rent instead of buy. As a...
Downtown Orlando is bolstered by population growth at a rate that far outpaces most cities in the nation, Orlando’s economy is expected to forge ahead in 2019 with continued diversification. Make no mistake, tourism has and will continue to be a central driving force behind Orlando’s growth, but economists predict the new year will also likely bring further growth in other sectors, too, including...