A recent and large-scale Orlando real estate development is the apartment complex that will soon come up in Altamonte Springs. A. Charlotte of N.C. development plans on converting an 80-acre area into one of the biggest apartment buildings in Orlando. Top Orlando real estate developers, Crescent Communities LLC, also plan on contributing a 300,000 square feet mixed-use center to the $20.3 million, 249-unit Crescent Gateway Apartments. The development of this center, which will have a mix of offices, retail outlets, and, possibly, a hotel as well, has a whopping budget.
There is also another real estate development proposal to construct a 450-unit apartment complex near the Orlando Fashion Square mall. This project, however, has raised concerns about increased traffic and congestion in the area.
Benefits of real estate development
The huge increase in Orlando real estate development is sure to generate a good amount of construction jobs for many unemployed workers. The construction of these mega apartment complexes will require huge amounts of manpower, which will in turn, help reduce the unemployment percentage in Orlando, Florida.
Besides creating construction jobs, the 300,000 square feet project which will be initiated in Crescent Gateway Apartments, is sure to provide ample amounts of hotel management jobs, retail jobs and desk jobs at the office. Crescent Gateway will provide a solution to the increasing demand for office space in an under-supplied economy.
More residents will be able to move into luxurious and affordable homes, and facilitate greater community involvement. Other benefits include a higher economic growth rate, better investment, improved lifestyle, and increased home-ownership value.
