April, 2024
Downtown Orlando is experiencing a surge in commercial development, driven by increasing demand for office and mixed-use spaces in the heart of the city. According to recent reports, several new projects are reshaping the skyline and adding to the vibrancy of the downtown area.
As of March 2024, the Downtown Orlando Community Redevelopment Agency/Downtown Development stated that there are 20 proposed projects worth over $1.45 billion in the pipeline, including:
- 321,045 SF of office space
- 136,162 SF of retail space
- 4,258 residential units
- 556 hotel rooms
One notable development is the upcoming 28-story office tower at the former Amway Arena site, set to become a major hub for tech companies and other businesses. This project reflects the growing interest in modern, high-quality office spaces in downtown Orlando, catering to the needs of innovative industries.
In addition to office spaces, downtown Orlando is witnessing the construction of new mixed-use developments that combine residential, retail, and entertainment components. These projects aim to create vibrant urban environments that attract residents, workers, and visitors alike.
The surge in commercial development is fueled by Orlando’s strong economic growth, favorable business climate, and increasing population. With more companies and professionals choosing downtown Orlando as their preferred location, the city is poised for continued expansion and transformation.
As the downtown landscape evolves, stakeholders are optimistic about the future of Orlando’s urban core. The influx of new commercial developments is expected to further enhance the city’s appeal as a dynamic and thriving business destination.
Information courteously provided by Orlando Business Journal – https://bit.ly/3J9AQuZ
