Living in Central Florida for nearly 30 years, I’ve seen many changes. Most notably in the last five years, there has been a shift in development toward transit oriented development.
In the most recent “Commercial Connections” Summer 2017 magazine published by the National Association of Realtors®, “Transit Oriented Development” was covered as a commercial real estate trend.
Within the article, it states that “[m]ore than ever people are specifically interested in public transit and pedestrian walkways that provide accessible, reliable, and convenient ways to travel between home and work, schools and recreation.”
In the article, Central Florida was highlighted as a region showing TOD due to its “legacy” transit networks. Surges in TOD have sprung up in communities such as Maitland and Lake Mary.
Millennials are significantly driving the TOD popularity. One survey produced by HNTB Corporation found that “70 percent of millennials would pay more in rent or mortgage to get to work or play without using a vehicle.”
On October 12, Orange County Florida government lead by Mayor Teresa Jacobs held a summit “seeking solutions in housing, transportation, and sustainability.” Not surprisingly, many of the county’s initiatives align with the growing TOD trend. More coverage on that recently summit can be found here.
Additional information on transit oriented development can be found at: