The future of Lake Nona (Miami, Tampa: apartment, new home, buy)

[coolieandre]

I lived in Orlando for a HOT minute 2010-2012 right after college. Living here is what made me get my license in real estate. At that time Lake Nona was the new thing and it was pretty nice. Certain amenities weren't built though. After seeing the plans for that large master plan community, it's totally gonna alter the reason the community was built. That's one thing about FL I've noticed. They sure as hell pack some homes in. And close! Also, the quality of home stock is also pretty affordable. I noticed that in the metro altogether. Some communities may offer longevity but IMO 250K is quite affordable and may survive the first ten years but after people move etc, it will be interesting to see how the area may progress. I just think for a community like Lake Nona, it would be smart to have homes for higher incomes with amenities that interest those homeowners rather than pack so many types of homes in one area. You kinda start marginalizing everything at that point and loose exclusivity.Something similar is happening in some ATL neighborhoods. Communities 15 years ago that were once very desirable have slowed down and begun to decay. People's incomes have increased and 250K is now affordable to many who may not intend to invest in a home the way others may. They also may choose to start renting, and we all know FL is a tourism based state too.

[bmw335xi]

I love how Windermere is coming along these days. I just was exploring the area yesterday, it's amazing how much has been built and how nicely designed everything is... Windermere or Lake Nona are probably the best bargains these days for those who want an actual nice house in a safe area. I prefer Windermere's location over Lake Nona though.

[WithDisp]

Originally Posted by bmw335xi

I love how Windermere is coming along these days. I just was exploring the area yesterday, it's amazing how much has been built and how nicely designed everything is... Windermere or Lake Nona are probably the best bargains these days for those who want an actual nice house in a safe area. I prefer Windermere's location over Lake Nona though.

The Town of Windermere is already fully developed.

That's just Southwest Orange County. The day a Post Office is built over there and the zip code is annexed it'll likely revert to being called "Orlando"- unless it incorporates as something else.

[chopchop0]

Originally Posted by bmw335xi

I love how Windermere is coming along these days. I just was exploring the area yesterday, it's amazing how much has been built and how nicely designed everything is... Windermere or Lake Nona are probably the best bargains these days for those who want an actual nice house in a safe area. I prefer Windermere's location over Lake Nona though.

You talking about near reams rd? Old Windermere pretty established

[bmw335xi]

Old Windermere has always been nice, but I'm talking Windernear or New Windermere, whatever you want to call it, that area is really becoming nice, very much Lake Nona vibe, but I like it more.

[germanoricua]

I checked on that Sunbridge development. That will be a large development project if it goes through as planned.

See here: Lake Nona developers plan 24,000-acre project - Orlando Sentinel

The first community is being built already: Tavistock Announces First Sunbridge Neighborhood and Builder Del Webb - Lake Nona Social

[chopchop0]

Originally Posted by germanoricua

I checked on that Sunbridge development. That will be a large development project if it goes through as planned.

See here: Lake Nona developers plan 24,000-acre project - Orlando Sentinel

The first community is being built already: Tavistock Announces First Sunbridge Neighborhood and Builder Del Webb - Lake Nona Social

Del Webb focuses on the 55+ crowd.... should be a good feeder for that up and coming UCF teaching hospital lol

[justinfl]

Originally Posted by redshoe

They always pump up the "medical city" and that's great if you are a vet but I don't know where you go for a general hospital near lake nona for non military.

There is actually a hospital planned for Lake Nona(Teaching). You are right about the lack of a general hospital here but you can also use the Health Park-Lake Nona facility. The "pumped up" medical city is what is driving our home prices up and sustaining them here in Lake Nona. Anywhere that there is a lot of medical infrastructure and services you have the same phenomenon. Inversely if a hospital closes your home value will tank.

Tavistock also hyped up the area for sporting but again I'm just not seeing the benefit for the every day resident. We still have to drive 20 mins to even find a decent car oil change place. We have 12 banks and 5 mattress stores but still no library or post office.

There are only 2 mattress stores but your point is well taken. The lack of library does drive me up the wall and the post office also. It'll change. I've talked to our local politicians and they say it'll change soon.

These are things that fall upon the city to provide us. Tavistock is subsidizing a lot here but libraries and post offices are in the cities scope.

Sporting is huge here in Lake Nona. USTA moved it's national campus to Lake Nona. You can play there.
https://www.ustanationalcampus.com/en/home.html

USPTA move it's headquarters here right across the street from USTA also.
http://uspta.com/default.aspx?act=newsletter.aspx&category=uspta%20 latest%20news&newsletterid=1203

If you play tennis or have any interest in it then you'll understand the benefit of having such. I personally don't play tennis or watch it but living in an area that is focused on tennis or golf has a huge benefit societally. Kids here in Lake Nona will grow up with Doctors and many professionals as their neighbors thus having an impact on their future by sheer proximity. They'll also have potential for better starter jobs and careers close to home once our retail and commerce takes off as planned.

Driveshack will be opening in a few weeks or next month. you can go there yourself and see and even play when it's open. Drive over there and take a look. It's right off Lake Nona Blvd before the 417 overpass.
https://www.driveshack.com/

Orlando City is supposedly building their training center right across from USTA.
More to come on this...I've been there and it's still dirt but we build quick here.

What about the Lagoon coming here as well:
http://www.lakenonasocial.com/lake-nona-resort-crystal-lagoon

What about the water park coming:
http://www.orlandosentinel.com/business/consumer/os-bz-lake-nona-floating-water-park-20170403-story.html
https://www.nonahoodnews.com/nona-adventure-park/

This area is getting major focus strictly due to Tavistock giving unmentionable incentives for companies and industries to come here.

I can't wrap my brain around zero lot homes. You're going to pay 550,000 to be on top of your neighbor? Houses so close you can hear them fart. A CDD on top of taxes are putting a house for sale at 349,000 at 8700 in taxes in Randal Park. That's crazy to me.

There definitely are some small lots here but I don't live in a community that has them. My community is quite expensive but the small lot folks elsewhere have many positive benefits and are more manageable. If you have a zero lot you don't pay almost $300 a month to maintain it. It's also more manageable and greener environmentally. My lot is about a half an acre takes tons of water and costs a lot to maintain. You say that you're renting here but do you plan on leaving? I'd venture to say that you'll stay because this place will look totally different even in 3 years. Town center will blow your socks off when it's done.

I'm very sensitive to negative and positive property value fluctuations and the investment aspect of such. I'd let you know if it was time to worry; It's definitely far from that. My property appraisal has increased quite handsomely in the past 18 months since I built it. I won't state the number because you wouldn't believe me. Naturally not all homes do that but that is why you buy big in Lake Nona if you have the means to.

I pay 5 figures for my property taxes. That comes with Orlando, not just Lake Nona. When and if you purchase in Orange county you'll be paying a lot too. Look at the property taxes in Winter Park for comparably priced homes. The CDD is in our benefit; I've seen it at work first hand.

Traffic is getting insane and the crime rate is increasing here and everyone tried to downplay the recent murder that happened right on a quiet residential street because they don't want the hood to get a bad rep that affects home sales.

They'll be expanding Narcoossee soon to address this problem.
https://www.nonahoodnews.com/memo-commissioner-jim-gray-narcoossee-road-update/

You can thank your local Walmart for the influx of petty crimes here. Just look at the stats from when it opened last year in regards to property crimes. We do have several gated communities here that don't actually see crime at all. That shooting was a crime committed against a Lake Nona resident and not by Lake Nona residents. There is a big difference if the crime actually was generated from the locals here.

Everyone here is so hopeful and looking forward to bright futures inside of Lake Nona. There is a lot of misinformation about Lake Nona from some that don't live here and those that haven't quite bought into this area financially. People will keep saying what Lake Nona won't be and it'll keep making advancements.

It's quite easy to speculate about what will happen but it only seems that one person on this thread lives here. We are missing some things but they're in the plan and on the near horizon. Many other communities will have NONE of the Lake Nona developments happening. They are land locked and there is no way around that. If we don't have something it's coming...can other places say that? We can actually generate enough influence here to create opportunities for growth...can other places say that?

Lake Nona home ownership is for a certain type of person/family at a certain level. Not everyone, nor can just anyone own here.

Then you have Tavistock building a giant new community (Sunbridge) right next door that's planned out for the next 30 years. Insane.

I totally understand your view on this but I know some things about Lake Nona and Sunbridge that make me not worry about Sunbridge being in contention with Lake Nona. Additionally the billionaire's company that owns both surely wouldn't mismanage that aspect. How much do you think would be lost if they did!

[sean1the1]

Yeah, I have no idea why Tavistock allowed Del Webb to be the first developer in a neighborhood that's supposed to be more focused on job creation. I guess though it did work out for Nocatte in Jax though, winch hasn't lost any charm, but has only gained it.

It really does suck that there hasn't been a viable solution to incorporate low income families without the neighborhood deteriorating. I wonder if stricter HOA's would fix that.

It's also going to crazy seeing how much Osceola County will change will all the new expressways planned out. It's insane when you look at OC on google maps, and only like 15% of the county is developed. That's pretty insane for a metro the size of Orlando.

I never even considered how Toll Roads actually curb development a little more, maybe it's for the best that Orlando is full of them maybe it slows things down a little.

I also love the way the Horzions West side of "Windermere" is as well. Whenever I'm in town I go check it out. I wonder will Wellness Way take off in Clermont as Horizon builds out in the next decade.

[sean1the1]

I personally love the way the homes in Laureate Park are being built they remind me of thehomesd here in Santa Monica just one fourth the price. Lol I like the boxy glass futuristic look.