After the economic dip of 2008, development in downtown Orlando is rebounding, with $5 billion in investment proposed or underway.
- $5 billion in developments coming to downtown Orlando
- Projects underscore Orlando's rebound from recession
- Several high-rise buildings underway or proposed
- INTERACTIVE: Map of in-progress, proposed developments
“Things are actually happening — that’s invigorating," said David Barilla with Orlando's Downtown Development Board and Community Redevelopment District. “Downtown is a hot topic. People want to know what’s going on. They want to be a part of it.”
Before a room packed with real estate agents, developers and investors, Barilla, on Thursday, presented projects shaping Orlando.
The event is part of Orlando's monthly What’s Up Downtown series.
Fittingly, the talk took place in a 29th floor room in the Aspire on Magnolia Avenue surrounded by windows: the panorama showcasing views of The City Beautiful.
“I think you can look out these windows and definitely see for certain," he said of Central Florida's bounce back after the recession. “Everything is right between the activities, the environment, the economics, to really make a play. And we’ve seen a lot of developers come out from Atlanta to develop here.”
Barilla rolled through projects underway — such as the Creative Village and I-4 Ultimate — to those only just proposed. For instance, construction is expected to begin soon on the Lincoln Tower, a 25-story high-rise with hotel rooms, office and retail space. The building, located on the corner of Garland and South streets, will include a SunRail station on the bottom and amount to a $100 million investment.
“The more we have going on, the more sellable it is, the more appealing it is. The more residences we have, the more businesses will come in," said Ramon Caudle, who attended the presentation. “It keeps me excited. It’s exactly what I need."
A former hairstylist, Caudle changed career paths three months ago to focus on real estate and development. He now works as an agent for boutique brokerage firm Urbanista, which focuses on downtown Orlando.
“This meeting with the actual hard facts of development is just confirmation that we’re on the upswing and things are moving downtown," he said. “I definitely see the growth that’s happening now in the right direction. A lot of arts and entertainment, a lot of culture, a lot of education.”
The city also outlined newly-completed projects, such as Ace Cafe and the downtown Walgreens.
The What's Up Downtown events take place each month at different locations and are open to the public.