November, 2024 Navigating Central Florida’s commercial real estate market requires a keen eye for market trends and demand drivers. With its booming population, economic growth, and strategic location, the region offers dynamic opportunities for investment, but identifying the most profitable ones demands thorough analysis.  Population Growth and Economic Drivers  Central Florida continues to experience rapid population growth. The Orlando-Kissimmee-Sanford metropolitan area alone has seen significant increases, with projections suggesting continued growth into 2025. This growth is driven by migration, both domestic and international, as Florida remains one of the top destinations for[...]

September, 2024 Impact fees play a significant role in the commercial development landscape. These fees, typically imposed by local governments, are designed to offset the costs of public infrastructure and services that new developments require, such as roads, schools, and emergency services. By understanding how impact fees are calculated and applied, developers can better navigate the financial aspects of their projects and make informed decisions that balance costs with long-term benefits.  In Central Florida, particularly in counties like Orange, Lake, and Osceola, impact fees vary depending on several factors including the type of[...]

August, 2024 At Park Lake Development, we understand that site selection is the cornerstone of successful commercial real estate development and are committed to harnessing the transformative potential of responsible development. Our mission is to propel communities forward, creating sustainable and thriving neighborhoods that enrich the lives of residents. Founded on the principles of transparency, sustainability, and community focus, we stand as your trusted partner in shaping the future.  The Importance of Thorough Site Selection  Selecting the right site for development involves a meticulous process, considering numerous factors to ensure the success of[...]

July, 2024 When embarking on a real estate development project, due diligence is crucial to ensure that the property meets all necessary criteria and aligns with your investment goals. At Park Lake Development, we understand that thorough land development due diligence can prevent costly surprises and protect your investment. Here are the top 10 red flags we watch for during our comprehensive due diligence process:  1. Title Issues Before proceeding with any purchase, a detailed title search is essential. Title issues, such as liens, encumbrances, or unresolved ownership disputes, can[...]

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  [...]

March, 2024 Amidst ongoing efforts to address Florida's housing shortage, recent changes to the Live Local Act promise significant benefits for developers involved in affordable housing projects. The amended legislation, which recently passed with a resounding 112-1 vote in the state House, is poised to bolster the state's housing initiatives pending Governor Ron DeSantis' signature. Originally enacted to alleviate housing shortages, particularly exacerbated by increased migration and soaring rent prices, the Live Local Act offers tax breaks and regulatory incentives to developers aiming to construct affordable and workforce-priced rentals. However,[...]