The planned community of Lake Nona, east of Orlando, looks set to see a new boom in construction. Tavistock Development Co., a developer responsible for the community, plans to change the region’s development program to nearly double the size of homes, hotels and retail establishments in the area.
The idea is to add more than 7,000 homes, around 1,400 new hotel rooms and a new area dedicated to offices and commercial establishments of more than 1 million square meters.
In a memo sent to city officials as part of the order, Tavistock says the region has evolved and gained characteristics that go beyond a merely suburban neighborhood. The demand that currently exists in the region allows for the doubling of the density of the community, in a market that increasingly demands new retail establishments, offices and residences. The idea is to direct the community towards a more modern and urban environment, as opposed to the one originally planned in 1983, which envisaged a typical suburban neighborhood in central Florida.
“The growth of the region has seen Lake Nona experience an increase in orders for industrial, retail, office and residential products – a more modern and urban landscape that differs from the suburban design initially planned with the original,” reads the Tavistock memo to the city.
Large corporations migrate their operations to Lake Nona
The new projects will also serve to meet the significant demand of large corporations migrating their operations from other states to Florida.
States such as New York and California have been losing renowned brands that seek to migrate all or part of their divisions to the “Sunshine State”.
About Lake Nona
Lake Nona is a planned community in Orlando known as the “Medical City” for housing a healthcare complex and being a reference in the US in the sector. The region has been attracting investors and buyers who want more secluded places closer to the coast. Lake Nona, being the easternmost part of the county, is only 30 minutes away from the beaches on the east coast of Florida. It is ideal for those who want to enjoy the bucolic and peaceful atmosphere of central Florida, be close to Orlando’s parks and main attractions and still close to the beach. The community is new and expanding, offering a high potential for appreciation. Lake Nona is also close to Orlando International Airport (10 minutes).
About AMG International Realty
AMG International Realty is a global real estate company specialized in Florida. If you are interested in finding out more about real estate opportunities in Lake Nona, contact me right now and chat with me on WhatsApp: +1 305 318 6968 (Heloisa Arazi).