Medical City In Southeast Orlando

You may have heard that Medical City is coming to Southeast Orlando but have you realized the impact it brings to the area

? With the influx of medical research and care facilities as well as a college of medicine, the population in that area will be expanding tremendously. This could very well bring about a surge in real estate values, a much needed occurrence after the recent run of short-sales and foreclosures. What does that mean to you? It means time is running out for buying homes at the lowest prices we've seen locally in a decade. To give you an idea of what you'll be seeing in Medical City, here's a brief run-down of the new facilities going in: The Sanford-Burnham Institute for Medical Research, The University of Central Florida's college of Medicine,VA Medical Center,The Nemours Children's Hospital and The M.D. Anderson Orlando Cancer Research Institute.

All of these will be part of the Lake Nona development to include a new town center full of retail, dining, and entertainment venues as well as several new residential subdivisions, parks, an equestrian center, an aquatic center, and more. Medical City will be creating an estimated 30,000 jobs and $7.6 billion a year in economic activity over the next ten years. The 7,000 acre Lake Nona master-planned community is expected to eventually have 25,000 residents.

Currently, getting into the Lake Nona area is within reach of most people's budgetary restrictions. A two-bedroom townhouse can be purchased for just over $100,000 with three-bedroom single-family homes starting as low as the $170's with several options available in the $200,000 - $300,000 range. That being said, Lake Nona certainly offers many luxury options as well such as high-end condominiums, villas, and single-family estates priced as high as $6M. As Medical City continues to construct and open new facilities, Lake Nona continues to put up more housing, and people begin flooding the area... prices are only going up. Getting into the area now before the growth explosion and subsequent price increases will be the ONLY way for some people. Lake Nona is also an excellent investment opportunity for residential property owners looking to come in, purchase and hold, renting the properties out to medical students and facility staff.

The economic impact on Orlando is expected to exceed that begun in 1971, when Disney opened its doors. Disney currently employees over 60,000 individuals and continues to impact the Central Florida region with growth and development opportunities. As Medical City continues to grow, expand, and develop, it will result in long-term, stable, high-paying job opportunities and as such will continue to steadily rebuild the region's real estate values.

by: Gitta Urbainczyk

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