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Here’s 2 spots where the Osceola Parkway Extension may be built — both are controversial

Would you rather see a major road built through a costly wildlife/nature preserve or a neighborhood?

This is the dilemma the Central Florida Expressway Authority, which soon must decide where to put the Osceola Parkway Extension, has been facing since last year.

The proposed Osceola Parkway Extension begins one mile west of the Boggy Creek Road and Osceola Parkway intersection, and extends eastward along the Orange/Osceola County line for six miles before turning south into Osceola County to meet the northern terminus of the proposed Northeast Connector Expressway. The project also includes a potential north/south segment linking to State Road 417 in the general vicinity of the Boggy Creek Road interchange.

The goal of the project is to relieve congestion and have regional connectivity. It’s part of the authority’s overall 2040 master plan, which includes other alignments.

One of the current alternatives shows that the extension could go through the 1,700-acre Split Oak Forest preserve, acquired in the 1990s, which is south of the Clapp Simms Duda Road. Environmental conservationists say doing so would defeat the purpose of having protected land that involved millions in funding.

However, if the project does not go through Split Oak, it could mean nine would be taken in the St. Cloud community Lake Ajay Village.

“The board is going to look at all the options. Our job is how are we going to move people in the next 40 years here in Central Florida,” Fred Hawkins, chairman of the Central Expressway Authority, told  Business Journal after the board’s Feb. 8 meeting. “We have to move those people and the to-do list is now, before more development occurs.”

Roughly $70 million has been allocated for the project so far, which would go toward property acquisition and engineering.

He added that going through a community such as Lake Ajay Village, located off Narcoossee Road, likely would be more expensive than going through Split Oak

“The properties directly affected are worth $450,000-$600,000. The property taxes they pay are between $3,000-$5,000 each. Not only will those properties will be affected, but all of them running along this area,” said Stacy Ford, a resident of Lake Ajay Village, during the public comments segment of the meeting. “The worst case for us isn’t that CFX will go through our homes, it’s that CFX puts this road right next to our homes because we don’t get compensation for the impact of that, which is our property values. At minimum, it’s going to be 20 percent.”

And if the project does go through Split Oak forest, Hawkins said there may be land compensated for that loss.

At the next expressway authority meeting on March 8, the board will go over the feasibility and cost of alternative corridors so it can move forward with project development and environment studies.

There are multiple public meetings for those who want to express their concerns regarding how the project may affect their property or commute. The meetings all will run from 5:30-7:30 p.m., and will be held:

  • Feb. 13 at St. Cloud High School
  • Feb. 15 at Lake Nona Middle School
  • Feb. 21 at the Association of Poinciana Villages Community Center

Lockheed Martin plans to expand Orlando division by 255,000 SF

Global defense contractor Lockheed Martin Corp. will expand in west as it continues to grab big contracts with work in Central .

The Bethesda, Md.-based company declined to share details until Feb. 14, when it breaks ground at 2 p.m. on its planned new 255,000-square-foot Research and Development II building on the property of the Missiles & Fire Control facility at 5600 Sand Lake Road. The new building is will open in 2019 and lead to job growth.

Orange County Mayor Teresa Jacobs, Orlando Mayor Buddy Dyer, Florida Department of Economic Opportunity Executive Director Cissy Proctor and Lockheed Martin Missiles & Fire Control Executive Vice President Frank St. John will attend tomorrow’s ceremony.

Lockheed Martin is expected to expand its workforce in Orlando as the company was approved for a $3.5 million incentive package from Orange County and Florida last year to create 500 jobs by the end of 2022. Currently, Lockheed Martin has more than 650 job open on its website, calling for software and system engineers, program managers and more.

Lockheed Martin in Orlando often scoops up big contracts. The firm recently grabbed a $148 million deal for its stealth jet fighter F-35 with a chunk of the work happening in Orlando.And on Feb. 12, Longbow LLC — a joint venture between Lockheed Martin (NYSE: LMT) and Northrop Grumman Corp.(NYSE: NOC) — scored an $8.8 million contract from the U.S. Army for laser and longbow Hellfire engineering services. Work for the one year contract will be performed in Orlando and two other areas.

Lockheed Martin is Central Florida’s seventh-largest employer with more than 9,000 workers, according to Orlando Journal research. Lockheed Martin is also the largest tech firm in Orlando.

Tavistock proposes upscale Isleworth-area mixed-use project

 

 

 

 

 

 Group is lining up plans for a new Windermere mixed-use development it wants to build on vacant land on the shores of Lake Down.

The developer of the upscale Isleworth Golf and Country Club is seeking Orange County approval for the yet-to-be-named project on 43 acres zoned for agriculture at the northwest corner of Conroy Windermere and South Apopka Vineland roads, in what’s called the Isleworth Four Corners planned development.

Plans include 21 single-family homes; a 107-bed assisted-living and memory-care facility; 72 independent-living units; 40,000 square feet of medical office space in a two-story that may include a clinic or emergency department; a 30,000-square-foot big-box retailer; and about 40,000 square feet of additional shops and eateries east of Isleworth that Tavistock already owns through its related Windermere Property Holdings LLC.

The county will host a community meeting at 6 p.m. on Feb. 27 at the Chain of Lakes Middle School Cafeteria, where Tavistock will present its plans. Previous versions included a gas station and hotel, but residents shot down those plans, said Tavistock spokeswoman Jessi Blakley.

may begin sometime in 2019, pending approvals, said Tavistock spokeswoman Jessi Blakley, adding that it was still too early to have a project general contractor chosen.

Andres Duany of architect and town planning firm DPZ Partners LLC is a project consultant; Vero Beach-based Merrill, Pastor & Colgan Architects principal Scott Merrill is the architect; Winter Park-based Donald W. McIntosh Associates Inc. is the civil engineer; and Rulon Munns of Bogin Munns & Munns is the zoning attorney.

This is one of several projects Tavistock already has in the works. It also has more than $3 billion worth of construction in southeast ‘s 17-square-mile community, and plans in the works for the 24,000-acre Sunbridge community, for which it recently snagged another 200 acres of land in Orange and Osceola counties.

US Economic Observations: January 2018

It is well known that there are issues in the home purchase market, but there is less information on the single-family rental market, which makes up one-half of residential rentals. The CoreLogic Single Family Rental Index reflects rents paid on single-family houses and condos, and using this index we can dissect rent growth by both price tier and metro area.

LPI Blog

Figure 1 shows the 12-month change in our national rental index from 2005 to today. Rents for single-family fell during the Great Recession but then bounced back strongly from their low point in mid-2009 and have been trending up, mirroring home price growth. In October 2017, the index measured rent growth of 2.7 percent from a year ago. We can also show rent changes for the high-end (those rents 25 percent or more above the median rent in that market) and the low end (those rents 25 percent or less below the median in that market). The low-end single-family rental tier lagged the high-end tier from mid-2009 to early 2014, but then the low-end began steadily outpacing the high-end and the difference is growing. This mirrors the same high demand, low- supply forces that have caused low-end home prices to outpace high-end prices, as evidenced by shorter days-on-market and tighter inventory for low-end homes. Investors who entered the market to buy up distressed properties during the housing crisis might be exacerbating this trend in the rental market. High-end rents increased 2 percent in October from a year ago, while low-end rents increased by more than twice as much – 4.2 percent.

LPI Blog

We can also look at the difference between low-end and high-end rent growth by metro area. Figure 2 shows that low-end rents have been increasing in the largest 20 markets, with Seattle leading the large metros with the biggest increase in rents at 7.9 percent in October. Austin had the smallest increase in low-end rents of the large metros. In most of the 20 markets shown in the chart, low-end rents are increasing faster than high-end rents, and the trend is happening all over the country, not just in one region. The one exception is Warren, Mich., where low-end and high-end rents are increasing at about the same rate. The biggest spread in low-end and high-end rent increases was in Charlotte, N.C., where the low-end increased 5.6 percent and the high-end showed no increase.

The single-family rental market is an important and often overlooked segment of the and is affected by rising demand and constrained supply just like the rest of the housing market. The demand and supply pressures are especially apparent for lower-cost homes, for which rents are increasing at a much faster rate than for higher-cost homes

February 06, 2018, Irvine, Calif. –

  • Largest Price Gains During 2017 Were in California, Idaho, Nevada, Utah and Washington
  • Affordability Continues to Erode, Especially in Low-Price Range
  • Home Prices Projected to Increase by 4.3 Percent by December 2018

CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its CoreLogic Home Price Index (HPI) and HPI Forecast for December 2017, which shows home prices are up both year over year and month over month. Home prices nationally increased year over year by 6.6 percent from December 2016 to December 2017, and on a month-over-month basis home prices increased by 0.5 percent in December 2017 compared with November 2017,* according to the CoreLogic HPI.

Looking ahead, the CoreLogic HPI Forecast indicates that home prices will increase by 4.3 percent on a year-over-year basis from December 2017 to December 2018, and on a month-over-month basis home prices are expected to decrease by 0.4 percent from December 2017 to January 2018. The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.

“The number of homes has remained very low,” said Dr. Frank Nothaft, chief economist for CoreLogic. “Job growth lowered the unemployment rate to 4.1 percent by year’s end, the lowest level in 17 years. Rising income and consumer confidence has increased the number of prospective homebuyers. The net result of rising demand and limited for-sale inventory is a continued appreciation in home prices.”

According to CoreLogic Market Condition Indicators (MCI) data, an analysis of housing values in the country’s 100 largest metropolitan areas based on housing stock, 35 percent of metropolitan areas have an overvalued housing market as of December 2017. The MCI analysis categorizes home prices in individual markets as undervalued, at value or overvalued by comparing home prices to their long-run, sustainable levels, which are supported by local market fundamentals such as disposable income. Also, as of December, 28 percent of the top 100 metropolitan areas were undervalued and 37 percent were at value. When looking at only the top 50 markets based on housing stock, 48 percent were overvalued, 14 percent were undervalued and 38 percent were at value. The MCI analysis defines an overvalued housing market as one in which home prices are at least 10 percent higher than the long-term, sustainable level, while an undervalued housing market is one in which home prices are at least 10 percent below the sustainable level.

“Home prices continue to rise as a result of aggressive monetary policy, the economic and jobs recovery and a lack of housing stock. The largest price gains during 2017 were in five Western states: California, Idaho, Nevada, Utah and Washington,” said Frank Martell, president and CEO of CoreLogic. “As home prices and the cost of originating loans rise, affordability continues to erode, making it more challenging for both first time buyers and moderate-income families to buy. At this point, we estimate that more than one-third of the 100 largest metropolitan areas are overvalued.”

*November 2017 data was revised. Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results.

Methodology

The CoreLogic HPI is built on industry-leading public record, servicing and securities real-estate databases and incorporates more than 40 years of repeat-sales transactions for analyzing home price trends. Generally released on the first Tuesday of each month with an average five-week lag, the CoreLogic HPI is designed to provide an early indication of home price trends by market segment and for the “Single-Family Combined” tier representing the most comprehensive set of properties, including all sales for single-family attached and single-family detached properties. The indexes are fully revised with each release and employ techniques to signal turning points sooner. The CoreLogic HPI provides measures for multiple market segments, referred to as tiers, based on property type, price, time between sales, loan type (conforming vs. non-conforming) and distressed sales. Broad national coverage is available from the national level down to ZIP Code, including non-disclosure states.

CoreLogic HPI Forecasts are based on a two-stage, error-correction econometric model that combines the equilibrium home price—as a function of real disposable income per capita—with short-run fluctuations caused by market momentum, mean-reversion, and exogenous economic shocks like changes in the unemployment rate. With a 30-year forecast horizon, CoreLogic HPI Forecasts project CoreLogic HPI levels for two tiers—“Single-Family Combined” (both attached and detached) and “Single-Family Combined Excluding Distressed Sales.” As a companion to the CoreLogic HPI Forecasts, Stress-Testing Scenarios align with Comprehensive Capital Analysis and Review (CCAR) national scenarios to project five years of home prices under baseline, adverse and severely adverse scenarios at state, Core Based Statistical Area (CBSA) and ZIP Code levels. The forecast accuracy represents a 95-percent statistical confidence interval with a +/- 2.0 percent margin of error for the index.

Florida Hospital no longer seeks Sanford Burnham assets

 

 

 

 

Good morning, !

Hospital has withdrawn its plan to establish a cancer-research facility in the Sanford Burnham Prebys Medical Discovery Institute at Lake Nona. The University of Central Florida had a similar competing proposal for Sanford Burnham’s assets.

The hospital’s decision to pull out of the competition comes after a Jan. 23 county commission meeting where the University of Central Florida and Florida Hospital presented their competing proposals to take over the assets of the Sanford Burnham Prebys facility as the institute winds down its local operations.

Florida Hospital, which would have teamed up with Tampa’s H. Lee Moffitt Cancer Center, wanted to transform the 175,000-square-foot facility into a National Cancer Institute-designated comprehensive cancer center, which would be a first in Central Florida, and create hundreds of high-wage jobs.

However, unbeknownst to Orange County, Florida Hospital entered into an exclusive agreement with Sanford Burnham, a secret deal that ultimately backfired. At the end of the county meeting, most of the commissioners said they favored transferring the Sanford Burnham assets to and/or making this an open bid process.

The next step for the county is either to select UCF’s proposal and negotiate the transfer of assets or request more proposals as part of an open process.

And be sure to check out these other Wednesday headlines:

Lake Nona parent launches Tavistock Hotel Collection

Billionaire Joe Lewis’  Group on Jan. 30 announced the launch of the new Tavistock Hotel Collection that will oversee two new hotels planned to break ground in this year. More here on what that means for the community.

Speaking of Lake Nona … Tavistock expects public transit to drive sports growth

When it comes to bidding for the 2026 FIFA World Cup and other major sports events we want to lure to Orlando, we fall short when it comes to one key component: public transportation. So said Andy Odenbach, vice president of Tavistock Sports Ventures, who thinks the region needs to up its game in that sector. More here.

Hyatt Regency Grand Cypress hotel near Disney to add rooms

The Grand Cypress Resort plans to add 29 hotel rooms, bringing its total to 779. Based on industry estimates, the additional 29 rooms may cost roughly $11.2 million. The change for the land use plan was filled on Jan. 29 to the Orange County development review committee. More here.

New leader named for Orlando Regional Chamber of Commerce

The Orlando Economic Partnership has named John F. Davisas the new executive vice president of Orlando Inc., the Orlando Regional Chamber of Commerce, which is a partnership division focused on helping businesses and entrepreneurs. More here.

McDonald’s bests Nike, Apple as most visible brand on social media

McDonald’s reigns as the most visible brand on Twitter and Instagram, beating out the likes of Nike, Coca-Cola, Google and Apple. The fast-food chain’s logo, on average, is featured in almost 890,000 Twitter and Instagram posts per month, according to Statista.

Florida Hospital would invest $100M in Lake Nona’s Sanford Burnham

and Tampa’s H. Lee Moffitt Cancer Center have joined forces to compete with the University of Central Florida for an asset transfer agreement of the Sanford Burnham Prebys Medical Discovery Institute at Lake Nona.

Hospital has robust research programs and a commitment to collaboration with top-quality research and biopharma organizations. As a long-time research partner through the Translational Research Institute, Florida Hospital has the experience to leverage the investment that has been made in Sanford Burnham Prebys scientific infrastructure. For these reasons we have engaged with them in discussions to steward the medical research enterprise at Lake Nona into the next phase of operation,” showed documents provided by Sanford Burnham to  Journal.

Florida Hospital essentially would turn the 175,000-square-foot facility that’s winding down operations into a National Cancer Institute-designated comprehensive cancer center, which would be a first in Central Florida.

“Our proposal represents a tremendous opportunity to advance cancer care and research in the state of Florida. Florida Hospital and Moffitt Cancer Center are the top two providers of cancer care in the state. Bringing together these two organizations will accelerate the pace of advancements, bringing both hope and life-saving treatments to Central Florida more quickly,” Steven Smith, Florida Hospital senior vice president and chief scientific officer, said in a prepared statement.

The implementation of the designed plan focuses on five core programs that will be modeled on the existing Phase I program at Moffitt Cancer Center in Tampa and include:

  • Basic and translational research: It will allow the hospital to create new methods of care in a research environment and attract biotechnology and biopharmaceutical investments.
  • Precision medicine research clinic: It would convert 10,000 square feet of renovated space for cancer patients, who are at the highest risk of progression or poor response to therapy, to enroll into clinical research protocols.
  • Phase 1 clinical research: It would be a clinical care unit providing access to breakthrough treatments through Phase I clinical trials and research protocols not currently available in Central Florida.
  • Drug discovery: This will bring basic, translational and clinical research at the site to accelerate the discovery-to-treatment process and bring new therapies to patients.
  • A stem cell laboratory: That will have immunotherapy technology to fight against leukemia.

Renovations would begin this year: Upgrades for the stem cell program would take nine months to complete, and renovations for the precision medicine and Phase 1 clinical research programs would take roughly a year to finish.

Florida Hospital estimates the proposed strategy will create at least 205 private sector jobs by the fifth year, and 315 jobs over 10 years. The average base salary of jobs created will be $84,946. Included in the job numbers are 50 of the Sanford Burnham employees who are trained in drug discovery. In addition, eight contracted technical staff members would be retained.

Meanwhile, also wants to turn the Sanford Burnham Prebys Medical Discovery Institute into a National Cancer Institute-designated comprehensive cancer center. Its plan would result in 300-plus high-wage jobs and include more than $85 million in private investment. Read more on UCF’s plan here.

Both Florida Hospital and UCF will present their proposals to the Orange County Commission on Jan. 23.

 

Tech giant Apple corporate campus

Tech giant Apple Inc. (Nasdaq: APPL) announced on Jan. 17 that it’s seeking an American city in which to build a corporate campus that will create 20,000 jobs. Orlando’s economic development agency already is seeking a chance to submit a proposal to the iPhone maker.

Apple, which has a 14,000-square-foot office at the University Center at 11301 Corporate Blvd. near the University of Central , says the economic benefit will come through increased spending in manufacturing, capital expenditures, hiring and company tax payments, including about $38 billion in repatriation tax payments as part of recent changes to tax laws.

“The Orlando Economic Partnership certainly is interested in putting together a proposal for Apple, and we are in the process of learning more about the company’s needs,” said Laureen Martinez, senior director for marketing and communications for the city’s economic development agency.

Getting Apple would be a major deal — the same, if not bigger than landing Amazon’s HQ2. Amazon plans to invest $5 billion in a yet-to-be-selected.

While Amazon (Nasdaq: AMZN) would have been a big get for Central Florida, getting Apple would boost Orlando’s technology industry, too, said Chester Kennedy, CEO of BRIDG, the group that operates the $70 million, 109,000-square-foot Florida Advanced Manufacturing Research Center in Osceola County. “Apple is a huge magnet to convene and elevate the tech industry. Our region will gain by having them locate here, especially since this leverages the strengths of our existing targeted industries and brings awareness to those that don’t already know ‘the other half’ of our story.”

The story he’s referring to is the fact that Florida Advanced Manufacturing Research Center anchors NeoCity, a 500-acre tech campus in Osceola County, which is a blank canvas for elite tech companies to expand and capitalize on the growing Internet of Things industry. The center will focus on producing smart sensors — tiny microchips that connect everyday items to the internet for data analysis. Smart sensors are something that Apple uses often in its products from its iPhone to smart watches.

Kennedy was aware of how useful Apple could be in Central Florida before the company made the announcement that it was searching for a city to in which to expand. “In fact, I and the team from the Orlando Economic Partnership met with Apple representatives at their headquarters last year to discuss the value of increasing their presence here in Central Florida. Of course it would be a big deal for us as they are big integrators of sensors in their devices. With an Apple location, Central Florida will gain even more momentum in the world of smart sensors and the Internet of Things.”

However, getting Apple will be difficult, much like competing for Amazon, which involved 238 proposals from across the U.S., Canada and Mexico. “This will be another coveted trophy in competition with a lot of cities in the country to get this next Moby Dick of a headquarters,” said University of Central Florida economist Sean Snaith. “Amazon would have been a major game changer in the line of Disney World for the region, but you can’t cry over spilled prime memberships.”

Local tech leaders agreed that lessons can be learned from losing Amazon. “The criteria Amazon had, which included access to an airport and a region with a million residents, we clearly fulfill,” said Carlos Carbonell, CEO of Orlando-based Echo Interaction Group. “An important aspect was the region’s ability to attract tech talent. This is the aspect we not only can work better at, but demonstrate that we can attract tech talent and then follow through on our plans.”

Carbonell further recommended the city gather insights from other local leaders previously from cities where big companies like Amazon and Apple are located. “If the product is ‘Orlando as a place to relocate a to,’ then let’s leverage local voices and perspectives. We need to introspect what proportion of programs and career tracks our academic institutions focus on for training that can help us become a more prepared city. If we are not ready for Amazon today, we can be within a few years.”

Snaith agreed with Carbonell, saying the local workforce may not have been large enough, but public transportation is also something the region needs help with. “Transportation is under improvement right now with Brightline, but I don’t think Lynx has a dedicated source of funding and that is something we need to pay attention to.”

Snaith also said a lack of incentives may have played a big factor in not making the Amazon HQ2 shortlist. “Until we see what the final deal looks like, if this is driven by incentive packages, Florida may need to revisit its stance on incentives.”

However, “being in the consideration for Amazon really helped us. Being in the game brought together various groups across the region to talk and cooperate at a new level. This left us in a much better place to cooperatively pursue future opportunities,” Kennedy said. “I’m convinced we all gain if Miami stays in the [running], although not as much as we would have gained if a Central Florida site was still in consideration.”

Snaith also is confident that even if Orlando loses out on Apple, there will be other opportunities. “From the tax reform law, money will be coming back to the U.S. and a lot more companies will be looking to expand and invest in the U.S. down the road.”

Inventory Shortage at Crisis Levels in Nation’s Hottest Housing Markets

For-sale inventory is stuck at crisis levels in some of the nation’s hottest housing markets where home values are appreciating fastest. The number of homes for sale nationwide has declined on an annual basis for the past 35 straight months, and just 16.7 percent of a panel of housing expertsii surveyed in December 2017 expect a meaningful increase of home building in 2018, a sign that limited inventory could continue to drive the housing market this year.

 

“Tight inventory fueled by a tight labor market and low interest rates propelled home values to record heights in 2017, but the outlook is now much less certain,” said Zillow senior economist Aaron Terrazas. “Tax reform will put more money in the pocket of the typical buyer, but will limit some housing-specific deductions. Overall, this should increase demand for the most affordable and ease competition somewhat in the priciest market segments. On the supply side, the market is starving for new homes, but it won’t be easy for builders struggling with high and rising land, labor and lumber costs. Aging millennials and young families may be able to find more affordable new homes this year, but they’ll most likely be in further-flung suburbs with more grueling commutes to urban job centers.”

Lack of inventory, coupled with strong demand from home buyers, is one reason why home values across the country are reaching new peaks. The median U.S. home value rose 6.5 percent over the past year to $206,300, the highest it has ever been.

 

List of Central Florida’s best-performing stocks

An insulation products firm and two timeshare companies firms saw the three biggest increases in their stock prices among Central ‘s biggest publicly traded companies in 2017.

TopBuild Corp. (NYSE: BLD), Hilton Grand Vacations Inc. (NYSE: HGV) and Marriott Vacations Worldwide Corp. (NYSE: VAC) all saw their stocks rise more than 50 percent in a year when the stock market experienced record highs.

Most of Central Florida’s publicly listed companies performed well amid broader stock market gains. The Dow Jones Industrial Average increased more than 5,000 points in 2017, the first time in the index’s history, and was up more than 25 percent on yearly basis.

But despite most the gains, some of Central Florida’s largest publicly traded companies — SeaWorld Entertainment Inc. (NYSE: SEAS), Goldfield Corp. (AMEX: GV) and National Retail Properties (NYSE: NNN) — reported losses.

SeaWorld Entertainment, which is Central Florida’s seventh-largest publicly traded company based on 2016 revenue, saw its stock price decline 28 percent in 2017 after its attendance declined amid increasing competition from Walt Disney World and Universal Resort. Investors also soured on the company after it lost its focus when it came under fire for its treatment of its animals.

Miami based-Opko Health had the biggest decline of any publicly traded company in Florida that had market capitalization of more than $100 million. Run by billionaire Phillip Frost, Opko Health’s stock dropped about 47 percent after reporting disappointing earnings due to sluggish sales of its prostate cancer test product and its kidney disease drug.

Yet, most Central Florida stocks performed well. Notably, TopBuild saw its stock price jump more than 100 percent in 2017. The company expects activity to pick up even more as rebuilding begins in Florida and Texas following the busy hurricane season. Further, low interest rates and the strong are creating more demand for housing, outpacing the current supply.

Central Florida communities are among the fastest-growing in the nation

Ten Central neighborhoods  including four in Central Florida. are among the 50 fastest-selling master-planned community in the country last year, according to John Burns Real Estate Consulting.

Collectively, the top 50 communities sold 28,311 last year, up 20 percent from 2016 and representing roughly 4.5 percent of all new home sales in the nation.

Among notable trends, Florida’s share grew to 28 percent of the nation’s home sales in 2017, up from 20 percent the prior year, according to John Burns Real Estate Consulting.

Click on the slideshow to see which communities in Florida made the cut, including which one nabbed the No. 1 spot. And go here for a look at the complete list.