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Downtown Orlando Sees High-Rise Occupancy Rate Reach 90%

By Allison HallidayNovember 11, 2011
  • Downtown Orlando is proving popular with those looking for an urban lifestyle, and is fast becoming known as a world-class community with amenities which rival major metropolitan markets in the US.

    Orlando
    Orlando is leading Florida on the road to recovery © Laura Stone - Fotolia.com

    Apparently Orlando is now the 12th most viewed city on realtor.com, with its popularity largely being due to an increase in new restaurants, entertainment venues, and cultural festivals and farmers markets. The groundbreaking of the new Dr Phillips Center for the Performing Arts and the Amway Center have all helped contribute towards the rising downtown occupancy rate, which now stands at nearly 90%. Many of the buyers and renters are choosing to relocate the area as it offers the chance to live, work and play within walking or cycling distance. According to José Mussenden, owner of José Ole Homes, a leading real estate team with Olde Town Brokers, between 8% and 10% are empty nesters who are choosing Orlando condos because they don't wish to feel isolated.

    Mussenden says "When prospective buyers are considering living in downtown Orlando, it’s important to decide what type of atmosphere is most important. For those who enjoy being in the center of activity, the area west of Lake Eola is appealing, while others prefer the peaceful lake and upscale amenities found east of Lack Eola."

    Orlando is helping to lead Florida out of recession, and inventory levels are shrinking, but Mussenden says "There are still deals for investors interested in downtown Orlando condos. Your Orlando realtor can help you weigh important factors like condo fees, energy efficiency units and rental income potential." Mussenden went on to point out the importance of finding an agent who is expert in their specific location in order to get the best deal. Rentals are currently costing from $1.60 to $1.85 per square foot which is an increase of 10% compared to last year.

    José Ole Homes represent some of the most exclusive luxury homes listings in downtown Orlando. José Ole Mussenden began his career as a downtown promoter in New York City before translating his passion for urban life into an Orlando-based company which is focused solely on helping clients achieve luxury lifestyles. He is a licensed real estate agent with Olde Town Brokers and was named a Top 10 OTB Producer in 2010.

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