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Tavistock buys 1,000-plus acres of Orlando airport land for $64M

Lake Nona is expanding its boundaries south of and it now owns the land it needs.

Lake Nona developer  Development Co. LLC’s related entity TDCP LLC spent $63.9 million, or roughly $55,700 per acre, on May 10 for nearly 1,147 acres south of International Airport from the Greater Orlando Aviation Authority and the city of Orlando, Orange County records showed.

The three different parcels, two in Orange County and one in Osceola County along Narcoossee and Boggy Creek roads, will be used by Tavistock to develop a portion of a mixed-use project west of Narcoossee Road, north and east of Boggy Creek Road near the Orlando VA Medical Center, Tavistock spokeswoman Jessi Blakley told Orlando Business Journal.

The project, known as the Poitras planned development, includes:

  • 2,973
  • 100,000 square feet of commercial use
  • A school on 25 acres

Tavistock previously sought approval from the city earlier this month to rezone the property as a planned development with aircraft noise.

The 11,000-acre Lake Nona already has billions of dollars worth of underway and there’s even more growth ahead. See the photo gallery above for a sampling of Lake Nona projects in the works, and read more from OBJ‘s Doing Business in Lake Nona event from earlier this month.

Developer plans new 2,558-acre community near Lake Nona

A planned 2,558-acre, mixed-use community going up near wants to change some of its plans.

The Starwood project, being developed by Beachline South Residential LLC on land south of State Road 528 and east of State Road 417, will add a high school and new signage into the mix of commercial uses and thousands of .

Applicant Dewberry Engineers Inc., which is the civil engineer and landscape architect for the project, sent a submittal to the city of Orlando to amend the future land-use map and planned-use development map. The request will be discussed at a June 19 municipal planning board meeting.

“The changes are mostly the result of an agreement reached with Orange County School Board regarding placement of a high school site within the development,” the project description reads. The changes are also a result of the road realignment on Dowden Road.

Beachline South Residential LLC, an entity of Palm Beach Gardens-based Land Innovations LLC, wants to build:

  • Office space on 1,680 acres
  • Commercial space on 81 acres
  • Public recreation and institutional areas consisting of 65 acres
  • Industrial space on 33 acres
  • Roughly 670 acres will be set aside for conservation.

The development team also includes Donal W. McIntosh Associates Inc. as the surveyor, VHB as the traffic consultant, Bio-Tech Consulting Inc. as the environmental consultant and Devo Engineering Co. as the geotechnical engineer.

Proposed home sites will range from 20-foot townhome lots to 70-foot estate lots, Mattamy Homes said in a news release. Communities amenities will include centers of different sizes throughout the community as well as a more than 20-mile system of interconnected walking trails and bike paths.

“Orlando continues to demonstrate that it is one of the strongest markets in the state of , as evidenced by the positive demographic trends including employment and population growth,” Mattamy Homes Orlando Division President Alex Martin previously said in a prepared statement. “We consider the Starwood Property an excellent complement to our existing Randal Park community and an opportunity to maintain our strong presence in this highly desirable and rapidly growing area of Central Florida.”

Jay Thompson, Land Innovations managing partner, had said the home prices would start at about $230,000 and go up to $1 million.

Millennial homebuyers are not actively seeking

 

Good morning, Orlando!

Millennial homebuyers are not actively seeking to buy a house in Orlando, according to a new study by LendingTree.

In fact, out of the 100 cities ranked, Orlando came in at No. 80. See the data here.

Mortgage requests for buyers under 35 were analyzed between Feb. 1, 2017, and Feb. 1, 2018, then ranked alongside data about the average age of the buyer under 35, credit score, down payment and requested loan amount.

The study found cities in the Sun Belt like Las Vegas, Tuscon, Ariz., and five Florida cities as least popular, which could be because of their popularity instead with retirees, as well as high cost of living, according to LendingTree.

About one-third of mortgage requests through the company were from those 35 years old and younger.

And be sure to check out these other Monday headlines:

New project with shops, may be on tap for the area near SunRail station
A South Florida developer is eyeing 18 acres near the SunRail station in southwest Orlando for a possible mixed-use development. The project would include apartments, townhomes and a two-story office-and-retail building on Sand Lake Road and Orange Avenue. More here.

RESIDENTIAL REAL ESTATE
Images revealed of apartment buildings at Disney’s Flamingo Crossings
Rendering of the community center at Flamingo Crossings

Online mortgage lender expands into Florida, seeks to disrupt the industry
Lenda, an online mortgage company that claims it can close home loans 3.5 times faster than the industry average is expanding into Florida. Lenda uses a predictive algorithm, rather than going through human loan officers, to determine whether a borrower is creditworthy. More here.

N.C. food production biz considers adding 95 jobs in Melbourne
MG Foods Inc., a North Carolina-based food production, packaging, and distribution company, has applied for property tax breaks with Brevard County in order to expand its workforce by 95 jobs, Florida Today reports. More here.

How to get a piece of the work on the next phase of OIA’s new terminal
Orlando International Airport is looking for some help as it plans the next phase of its $2.15 billion expansion. The Orlando airport — the busiest airport in the state — is a huge driver of the area’s and the new south terminal will raise its capacity by 10 million passengers. More here.

Mortgage rates hold steady
Mortgage rates held steady this week, according to Freddie Mac. The 30-year fixed mortgage averaged 4.45% for the week ending March 22, essentially unchanged from 4.44% the previous week. Favorable mortgage rates have helped propel U.S. home sales and the refinance market.

And higher gas prices are on the way
Expect higher gas prices this week, AAA says. The Florida average has risen 10 of the past 12 days, climbing a total of 6 cents. You can expect prices to climb at least another 10 cents in the coming weeks. Gas prices in Orlando currently average $2.48 a gallon.

What Does The 2018 Housing Market Look Like?

Oftentimes, it’s difficult to predict the . In the last decade alone, we’ve seen a market crash and slow rebound.

However, while some experts are focused on yet another housing bubble, real estate has been on the rise. In October, sales of new U.S. single-family homes hit their highest level in 10 years across the country.

What’s the market forecast for next year? Industry insiders and top experts have similar predictions.

As a future or current homeowner, it’s important to stay on top of the changes in real estate. Read on to learn what the 2018 housing market has in store.

Inventory Shortages

New home sales may be on the rise, but the number of available is on the decline.

Low home inventory has made home prices more expensive in recent years. This trend will continue in 2018, making it more difficult for first-time and budget-focused buyers to enter the market.

There are 12 percent fewer homes on the market than there were a year ago. If this trend continues, homebuyers will be faced with stiffer competition and higher prices. This will make the demand for home purchase loans even greater.

What’s contributing to this low inventory? There are several theories.

Rising housing costs have added emphasis to high-end construction. More expensive homes are being built, which is making it more difficult to find affordable homes.

Homeowners might also be less likely to sell their homes than they were pre-crash. Despite it being a seller’s market, they aren’t looking to enter the market. They’d rather stay locked into their current mortgage.

Whatever the reason, the inventory shortage is expected to continue. Low inventory and high prices will force new homebuyers to get creative if they want to find an affordable home.

Housing Market Opportunities

Certain demographics have seen an abundance of housing opportunities. They can expect these opportunities to be even greater in 2018.

One such demographic is sellers of mid-priced single-family homes. These are some of the most in-demand homes across the nation.

Developers and sellers can make big money on this valuable sector of the market. More millennials are seeking to buy starter homes while baby boomers are scaling back.

The housing shortage isn’t all bad for buyers. Experts are predicting that housing prices will slow down in the coming year.

Forecasts show that the average U.S. house price growth will be 4.9 percent in 2018, which is lower than the 6.6 percent growth seen in the second quarter of 2017.

Prices might be curbed thanks to mortgage rates. A moderate increase in mortgage rates should help decrease refinancing activities.

You can still expect higher growth in big markets such as Seattle and San Francisco. Yet good mortgage rates, limited refinancing, and market stability will still help buyers in 2018.

Your Next Move

Predictions show low-inventory, high-prices, and market stability in 2018.

You don’t have to wait until these predictions come to fruition. Contact us now to learn more about buying your dream home. We offer free loan advice with no cost or obligation.

Adventist Health System buys Lake Nona land for $9M

Adventist Health System, parent of Hospital, just bought more land in southeast ‘s community that potentially could be used for several medical purposes, including a freestanding emergency department and/or an outpatient surgery center.

Freestanding emergency centers typically are owned and operated by licensed hospitals. The facilities are not connected to a main hospital campus, but offer the same comprehensive 24/7 emergency services. The number of such facilities is on the rise in Florida, in part due to overcrowded ERs and a desire to grow hospital system revenue. Such facilities also act as a toehold for future hospitals.

Adventist spent $8.975 million on roughly 15 acres on the north and south sides of Lake Nona Boulevard, according to documents filed on Dec. 15. The land is adjacent a 67.24-acre site Adventist bought last year, which currently is zoned as grazing land and doesn’t have any structures built on it.

The land is 13 miles from Florida Hospital East Orlando on Lake Underhill Road.

Adventist representatives were not immediately available for comment on what it plans to develop on the site.

The latest land sale deed restricts Adventist to a maximum of 145,000 square feet to be used for medical offices, an emergency department, an outpatient surgery center, and health and wellness services that can include chiropractic services, general physical therapy and rehabilitation services. The deed also allows for dining, vitamin and nutritional supplement retail sales, day care and a church or other place of worship.

Lake Nona’s currently houses the Orlando VA Medical Center, which opened last year, and the 5-year-old Nemours Children’s Hospital, and plans are in the works for a 100-bed University of Central Florida/HCA teaching hospital expected to open by the end of 2020 adjacent ‘s 50-acre College of Medicine campus.

Orlando tenants feel pinch of rent spikes

Metro Orlando rents spiked by as much as 15 percent during a year-long period when rents nationally declined, making Central Florida less affordable than some California markets, including Sacramento, a new report shows.

The biggest jump in rental rates hit smaller units. An influx of new complexes filled with one-bedroom units pushed up the average rental on those apartments by 15 percent from a year ago and 5 percent from a month earlier, reaching an average $1,170, according to research released Tuesday by the analytics firm Zumper. Household income in Metro rose 1.2 percent during that period, the federal government reported.

Rosalinda Hernandez, 60, works as a bill collector and lives with her mother in the east Orlando area. She said she keeps a close watch on the apartment market and finds no property managers offering discounts.

“If you don’t have someone to live with, you can’t make it,” she said.

For landlords, the region has been identified as a standout for its rising rents.

Brian Alford, market economist for the CoStar Group, said Orlando’s annual rent growth is one of the best in the nation. The four-county area had fourth highest year-over-year rent gains among the nation’s top 54 metro areas, he said.

“Orlando has seen rent growth across both luxury and workforce housing, which is not the norm,” he said.

The boost in prices repositions the Metro Orlando area from a region considered affordable to one where renters have to search harder to find deals. Apartments with two bedrooms rose at about half the rate of one-bedroom rentals and averaged $1,290 in October.Universal Orlando announces two new hotels

While rents in Orange, Seminole, Osceola and Lake counties rose by double-digit amounts from a year earlier, rents nationally declined by about 1 percent.

The Orlando area’s rent hikes come even as thousands of new units are rolling onto the market with 4,500 new apartments added in October, according to ALN Apartment Data.

Within the region, Clermont appeared to have one of the lower occupancy rates with less than 90 percent of units filled while the Eustis/Leesburg and DeLand areas appeared to have a shortage of rentals with virtually no units available in September, ALN reported. In the University of Central Florida area, east Orlando and Oviedo had an occupancy rate of 94 percent.

Tenants renting houses in the Orlando region did not escape the spike with those rents rising more than 4 percent in September, which was higher than the increases of 3.5 percent nationally, according to Morningstar. Higher rents don’t seem to be scaring away tenants with vacancy rates of 4.8 percent in September, which was down slightly from a year earlier. Nationally, vacancy rates for rental houses were 5.9 percent.

Looking ahead, conditions are unlikely to improve for renters with an influx of prospective renters following hurricanes, said Ryan Coon, an author who writes on landlord issues..

“We’re continuing the see rents climb in Orlando, especially as the housing market remains tight post-Irma,” Coon said. “This trend bodes well for landlords looking to invest in the area.”

 

DINER EN BLANC RETURNS TO ORLANDO ON NOVEMBER 10TH 2017

 

Can you believe it’s already been a whole year since the very first Le Dîner en Blanc – ? Get ready to toast the city for the second time! As per the tradition, this season’s spectacular culinary event will take place in a new secret location. We can’t tell you where, but we can tell you when…

Save the Date! Friday, November 10, 2017

 

 

 

 

Register at https://orlando.dinerenblanc.com/register

Last year, was a beautiful inaugural event at with over 1000 elegant guests.

Lake Nona Social has partnered with Le Dîner en Blanc Orlando again this year.

We will be giving out Invites to this year’s event. Make sure to download the Lake Nona Social App to be notified when.

MICHAEL PHELPS TO ENDORSE LAKE NONA LAGOON BUILDER

Michael Phelp has signed a deal to become an ambassador for Crystal Lagoons, the builder of the upcoming mega lagoon which will be apart of a new Lake Nona Resort.

As an ambassador, the 28-time Olympic medalist will help bring awareness to Crystal Lagoons goal. Which is to bring swimming and water sports activities to communities around the world via Crystal Lagoons’ industry-leading technology that transforms ordinary landscapes into majestic crystal clear lagoons.

Earlier this year, Crystal Lagoons signed a deal with Tavistock Development Co. LLC to build an 11-acre mega lagoon at a new resort planned near Lake Nona’s U.S. Tennis Association National Campus located in Lake Nona.

Fall Adult Tennis Programs at the USTA National Campus

Adult Programs

Our Adult Programs offer something for all levels of play and experience. Just starting out? Try our Play Tennis Fast or Tennis 101 program. Played before? Tune up your game with our singles and doubles specific training sessions. You’ll practice the best shot selection and patterns of play in a game-based format. Our programs aim to give you a great workout too! Look for our Cardio Tennis and Live-Ball programs for non-stop action.

Generally our adult programs will be offered on our Har-Tru (clay) courts. Occasionally an event conflict will move a program to the state of the art, Plexicushion courts. Our Adult and Adult/Child programs on the Family Zone courts offer the opportunity for families to enjoy the great sport of tennis together.

To meet your busy schedule most classes are offered as a daily drop in reservation – or save by signing up for the entire session. Please note: drop-ins are accommodated if space is available in the class and are encouraged to be reserved at least 24 hours in advance.

Many programs are offered for specific levels listed as NTRP levels (3.0, etc.).  For assistance in determining your NTRP rating Click Here.  This will guide you in your registration of our programs.

Adult programs are for players ages 18 years and older. 


Play Tennis Fast – Nemours Family Zone

Designed for the new or returning adult player to learn tennis basics in a fun environment.  On the Family Zone’s 36 ft. and 60 ft. courts, players are able to serve, rally and score as quickly as possible while developing their fitness and skills.  Red and Orange balls used to facilitate learning. Racquet size: 25-27 inches.
Fall 1 – 8/14-10/21 (10 weeks) – NOW OPEN!
Fall 2 – 10/23-12/22 (9 weeks)- Schedule coming soon!

Tennis 101

Learn the game or brush up your skills if it has been awhile since you last played. Daytime and evening classes available. Sign up by the session or drop in for individual sessions.
Fall 1 – 8/14-10/21 (10 weeks) – NOW OPEN!
Reserve a Drop In for an Individual Class
Fall 2 – 10/23-12/22 (9 weeks)- Schedule coming soon!

Cardio

Enjoy a heart-pumping workout and hit balls continuously. Improve your fitness and your tennis simultaneously. Daytime and evening classes are available. Sign up by the session or reserve a drop in for individual classes.
Fall 1 – 8/14-10/21 (10 weeks) – NOW OPEN!
Reserve a Drop In for an Individual Class
Fall 2 – 10/23-12/22 (9 weeks)- Schedule coming soon!

HITS

Similar to our popular Cardio classes, but with a play-based focus. Enjoy our “High Intensity Training Sessions” for a heart-pumping workout and hit balls continuously. Daytime, evening and early morning classes are available.
Fall 1 – 8/14-10/21 (10 weeks) – NOW OPEN!
Reserve a Drop In for an Individual Class
Fall 2 – 10/23-12/22 (9 weeks)- Schedule coming soon!​​​​​​​

HITS 90

Similar to our popular cardio classes but with a play-based focus. Enjoy our 90 minute “High Intensity Training Sessions” for a heart-pumping workout and hit balls continuously. Daytime, evening and early morning classes are available.
Reserve a Drop In for an Individual Class 

Live-Ball (3.5+)

A fun and energetic hour of pro led doubles style point play.  The serve, return and “down time” in between points have been removed and really amp up the energy and fun!  Come join us for live-ball play and continual focus on moving from defense to offense. Sign up by the session or reserve a drop in for individual classes.
Fall 1 – 8/14-10/21 (10 weeks) – NOW OPEN!
Reserve a Drop In for an Individual Class
Fall 2 – 10/23-12/22 (9 weeks)- Schedule coming soon!​​​​​​​

Doubles Training

Combine strokes and tactics in these lively game-based sessions.  Practice doubles situations with active play.  Professional/Coach will feed and review technique and shot selection.
Fall 1 – 8/14-10/21 (10 weeks) – NOW OPEN!
Reserve a Drop In for an Individual Class

4 High-Return Updates for the Home