Central Florida's SunRail commuter train is spurring dozens of transit-oriented housing projects near its stations.
Florida's explosive growth—in 2021, "2.44 people moved to the Orlando area for every one person moving out"—is prompting local and state officials to support more public transit and transit-oriented development in the state, reports Steven Ryzewski for the Orlando Business Journal.
"Transit-oriented development has been a topic of discussion since before Central Florida's commuter train SunRail began service in 2014, but was slow to take root in some places." But the tide is turning as more developments are planned around SunRail stops. "To date, SunRail has attracted 72 total transit-oriented development projects with a construction value of more than $1.8 billion, including completed, under construction and future projects, according to research done by the Florida Department of Transportation."
Mauricio Bello of Waterstone Capital, who is planning to build a 448-unit complex near one SunRail station, "called being near the station a 'competitive advantage' over other multifamily projects in the area, adding that the possibility of SunRail’s future connections to Miami-based intercity passenger train Brightline and Orlando International Airport also are game changers." The success of current projects is driving more proposals as developers seek to take advantage of infill development opportunities in areas adjacent to SunRail stops.
FULL STORY: SunRail attracts $1.8B+ in transit-oriented projects
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