On May 9, Orange County Property Appraiser Rick Singh gave a presentation at Lake Nona High School called 2018 State of Lake Nona Real Estate: Forward Thinking Meets Future Living. The event touched base on the value of Lake Nona and how it is Orlando’s fastest-developing community.
With a population of 25,866 people and an average age of 34, Lake Nona is in healthy shape. Its market value jumped from $351,000 in 2006 to $358 million in 2016. Since the Orlando International Airport is in proximity and the theme parks are in reasonable distance, those also cause the community to rise in value.
More highlighted statistics from Singh’s presentation: “$378 million in new construction in 2017, commercial property valued at $5.8 billion, 884 homes built in Lake Nona in 2017, 1,617 homes sold [in] Lake Nona in 2017, the average home sold for more than $387,000, the number of homes priced at $1 million and up rose from 20 in 2016 to 38 in 2017.”
According to Singh, he saw the boom of Lake Nona in the forecast years ago. Back in 2010, he was a resident here in the community and picked up on the subtle hints that the area would snowball into what it is today. “It blossomed, it blossomed tremendously because of economic prosperity,” states Singh.
There were also five others who joined in for a panel discussion with Singh after he presented the stats of Lake Nona. Giving their feedback were Kathleen Plinske, president of Valencia College’s Osceola, Lake Nona and Poinciana campuses; Bill Flemming, managing director at KPMG; Rasesh Thakkar, senior managing director of the Tavistock Group; Kurt Kamperman, chief executive of community tennis at the USTA National Campus for the United States Tennis Association; and Lou Nimkoff, 2018 president of the Orlando Regional Realtor Association.
Lake Nona will continue to evolve as more projects are well underway, such as: the Lake Nona Wellness Center, Johnson & Johnson Headquarters, KPMG Training Campus, Lake Nona Town Center Hotel, Amazon Distribution Center, and Tavistock Lake Nona Resort. There will also be small, apartment-like buildings in the heart of the area called “micro units.” The goal of the units is to provide living space at a reasonable price while being centered in proximity to the action going on in town.
To find out more about Orange County’s real estate and projects, visit ocpafl.org.