A recent article by Orange County Appraiser Rick Singh tells a compelling story of Lake Nona’s history and projected future. Lake Nona currently consists of about 26,000 residents with a median age of 34. Built around enhanced technological concepts, it has become one of the wealthiest regions in Central Florida. The initial technology tread started with the construction of Nemours Children’s hospital in 2009. The average household income is $143,500 compared to the U.S. average of $55,322.
There are a total of 16,687 parcels, of which 15,009 are slated for residential. Over 16% of the new single-family homes that were built in Orange county in 2017 were in Lake Nona. Lake Nona has an average sale price of $387,256, $500,000+ for new homes.
Lake Nona businesses employ over 5,000 local residents, and there are many new companies moving into the area. The upcoming projects consist of Lake Nona Wellness Center, Johnson & Johnson Headquarters, the Amazon Distribution Center, the Lake Nona Town Center Hotel, the Tavistock Lake Nona Resort, and the KPMG Training Campus.
This is exciting news but may be creating an affordability issue for residents. Micro-units will hopefully elevate the problem. Two hundred one micro-unit apartments consisting of studios, one and two-bedroom units will soon be available. The amenities will also include electric car charging stations, bicycle storage, a concierge delivery system, and a Tesla ride/share program with onsite vehicles to complete this city within a city. There will be no need to ever leave.
We are ready to assist in your next home purchase or sale!
References:
Rick Singh – Orange County Appraiser The State of Lake Nona Real Producer Magazine July 2018. <http://www.realproducermag.com>.
Real Estate, Lake Nona Florida