NEW TRAIN BOOSTS FLORIDA PROPERTY AND JOB MARKETS

New Train Boosts Florida Property and Job Markets

Getting around Central Florida has recently got much easier with the new SunRail train service. When the second phase is completed, the railway will cover over 60 miles between Volusia County and Osceola County, creating thousands of new jobs and opening up further opportunities in the Florida property market.

 

The first phase of SunRail (just under 32 miles) running between DeBary in Volusia and Sand Lake Road south of Orlando opened in May. Carrying around 4,200 passengers a day, the service is already on track for its target of 4,300 daily users. Construction is about to start on the second phase, which will take the train further north to DeLand near Deltona and south of Orlando to Poinciana.

 

SunRail was conceived as a way of reducing commuting time for Florida residents who live and work in the Orlando area. This is one of the fastest growing parts in the state for employment, particularly in the tourism and services sectors, and as a result, the area is attracting growing numbers of new residents keen to take advantage of the job opportunities here. SunRail has greatly facilitated the daily commute saving time and money for thousands of locals.

 

Central Florida’s new train service has also proved extremely popular with tourists. Orlando is the most-visited tourist destination in the US receiving nearly 60 million visitors in 2013 alone and SunRail offers an easy and convenient way of getting around this crowded area.

 

All SunRail stations have been built conveniently near Central Florida’s main intersections ensuring easy access for locals and tourists. The main bus companies provide services to those areas beyond the SunRail network with the additional incentive of free transfer between train and bus.

 

SunRail is having a very positive impact on property in Florida, not only in the form of price rises in houses located within easy reach of the stations but in terms of demand for property. SunRail is expected to create over 250,000 new jobs, which will undoubtedly put pressure on local housing, particularly the rental market, already a very saturated sector within Florida property generally.

 

New transport infrastructure often goes hand in hand with property development and SunRail is no exception. One example is the construction of 279 apartments in central Orlando near the SunRail Crescent Central Station. This area of Orlando has been earmarked for residential development for years, but lack of amenities meant none had taken place until the arrival of SunRail.

 

SunRail’s popularity and obvious benefits to residents and tourists have led developers to start research into a third phase to take the train service to Orlando International Airport. Implementation of this phase would have huge advantages for air passengers and considerably improve Orlando’s transport options ensuring the area remains one of the most attraction parts of the US both for relocation and retirement.

 

Source: Florida Business, Sunrail

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