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Orlando Business Journal
Investor buys 9 buildings in Hannibal Square
A Winter Park-based real estate investor paid $55.3 million for a substantial mixed-use property in the city's trendy Hannibal Square district, just west of its historic downtown along Park Avenue.<\p> Demetree Global, headquartered just blocks from the historic district, announced in a July 3 press release that it acquired 168,741 square feet of commercial and residential space across nine buildings along West New England Avenue, as well as 402 W. Welbourne Ave.<\p>
Hunters Creek apartment complex sells for $100.6M
An apartment complex in south Orlando's Hunters Creek neighborhood sold May 24 for $100.6 million, according to a deed that posted June 27, the only multifamily sales to cross the $100 million threshold this year.<\p> Osprey Links, a multi-building complex of 424 units on 27.67 acres near State Road 417 and John Young Parkway, was sold to Osprey Links Owner LLC, which is tied to New York-based Brookfield Properties. <\p>
Latest on bids, timeline for $560M convention center project
The progress on Orange County Convention Center's future $560 million expansion is coming together slowly – with the potential firms to oversee the project now being determined.<\p> The requests for proposals for the project's owner's representative and construction manager-at-risk closed at the end of June, and county staff are in the review process, convention center officials told Orlando Business Journal. <\p>
This Orlando Health app gives a voice to patients who can't speak
Jen Foley knows how hard it can be for a patient who cannot verbally express their needs or questions.<\p> The brand manager for Orlando Health had an experience with her father Arthur in 2009 where he woke up from surgery and could not communicate with words. After trying and trying, he stopped and slumped his shoulders. <\p>
Climbing gym goes vertical in trendy Orlando district
A climbing gym is underway in the Packing District, the latest feature in Orlando's $700 million developing neighborhood.<\p> High Point Climbing & Fitness broke ground in July on a 45,000-square-foot facility at 1978 Stanhome Way, west of Orange Blossom Trail. <\p>
3 investment steps you may want to consider before next April
Although we’re not too far past April and the financial event it’s known for, Tax Day, this is a good time to begin preparing financially for next tax season. <\p> April has been famous as the month when tax returns are due, but it’s now becoming known for another significant financial event – Financial Literacy Month. Last year, both Congress and the Florida Legislature officially designated April as Financial Literacy Month to better ensure people have basic knowledge to make important financial decisions and support life goals such as education, health care and retirement.<\p>
Pay growth slows in Florida after several years of gains
The median annual pay in Florida is up 2.5% over the last year and nearly 14% over four years, according to data from payroll provider ADP. <\p> However, the median salary has dropped each month in 2024, with the May level of $51,700 down from a high of $52,100 last December. <\p>
Orlando among most popular US cities to move to, study shows
Orlando remains one of the hottest relocation destinations in the U.S. according to a recent report studying moving patterns.<\p> In a report released in May by PODS Enterprises, LLC, a moving and storage company, Orlando ranked No. 18 nationally among cities with the highest number of move-ins. The study measures moving trends and data from cities across the U.S., but only ranks the top 20 highest move-in and move-out locations.<\p>
How Orlando's May TDT collections fared
Orange County's tourist development tax collections were up in May from the prior year.<\p> Orange County Comptroller Phil Diamond said proceeds from the tax on hotels and short-term rentals hit $28.38 million for the month, higher than May 2023 by $2.2 million. Through May, TDT collections are down for the year compared to last year by $1.1 million. <\p>
More downtown apartments in the pipeline
Orlando Union Rescue Mission wants to build more transitional housing units for the homeless in the downtown area north of Camping World Stadium. <\p> The nonprofit has proposed a three-building, 108-unit multifamily community on 4.77 vacant acres at 1525 W. Washington St. It is seeking a modification of its future land use to allow for the higher intensity.<\p>
Bishop Moore high school plans 4 new buildings, more
Bishop Moore Catholic High School plans to expand its campus in College Park with four new buildings and a pedestrian bridge. <\p> The Orlando-based private school is seeking an adjustment to its master site plan to include four properties it acquired between 2018 and 2023 near its campus at 3901 Edgewater Drive. The properties will have space for new construction at the roughly 60-acre campus. <\p>
These are America's most-delayed flights
Airlines are expecting record-breaking traffic for the summer — and for the July Fourth holiday — but fliers on many routes would be wise to build in some extra time for their travel plans. <\p> That's according to an analysis by The Business Journals of the latest on-time data from airline analytics company Cirium Inc. The analysis looked at routes with at least 20 flights. <\p>
St. Cloud to get project with restaurants, more
A new retail project is taking shape along one of Central Florida's fastest-growing corridors.<\p> Osceola County records show Evan Futch, a land-use planner in the Orlando office of civil engineering firm Avid Group LLC, is the applicant for the project planned to rise at 2831 E. Irlo Bronson Memorial Highway/U.S. Highway 192, east of St. Cloud, on behalf of landowner Lote Group LLC, a Gainesville-based developer.<\p>
These Florida neighborhoods have the most excessive property fees
Tax, home insurance and homeowner association fees can add hundreds or even thousands of dollars to your monthly bills. But the level of these fees compared to your repayments can vary widely depending on where you live, even down to your ZIP code.<\p> To find out where the most and least excessive fees are, lender CashNetUSA analyzed these add-ons as a percentage of overall monthly costs around the U.S. to see where potential homeowners can find the best deals — and which areas have the most disproportionate property fees. <\p>
Chick-fil-A in the works in Kissimmee
A new Chick-fil-A restaurant is being proposed in Kissimmee as that brand and chicken restaurants in general continue to grow in the region.<\p> National firm Bowman Consulting filed plans with Osceola County for a Chick-fil-A location connected to a Publix-anchored plaza at 3267 Vineland Road, between State Road 417 and Osceola Parkway. The proposed Chick-fil-A would be 5,428 square feet on a 74,013-square-foot lot, with two drive-thru lanes and 55 parking spaces.<\p>
Winter Garden shopping center to get new construction
A popular Winter Garden shopping center soon may get a significant addition.<\p> Documents filed with the city reveal a developer's plans to add an 8,000-square-foot retail or restaurant building to the 131,000-square-foot Winter Garden Regional Shopping Center. <\p>
Controversial Brevard apartment project in flux
A multifamily project in Titusville could become affordable apartments under Florida's Live Local Act as the developer faces pushback from neighboring residents.<\p> Bristol Windover Way, the name for a project put forth by Nashville-based Bristol Development, proposes 304 apartments divided among six four-story buildings on 26 acres at the intersection of I-95 and State Road 50. Bristol Development executives did not return multiple requests for comment.<\p>
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