Posted: December 17th, 2019
I-4 Corridor Expansion Project Affects Orlando Real Estate in a Positive Way
When looking for a property, one of the factors that people consider is the economy. Is it vibrant? Are there chances that it will continue being vibrant? Why are these questions important? We have seen some cities blossom but once some dynamics change, they start shrinking. It would be unfortunate to invest in such a place with a bright future in mind only for such things to happen.
One of the main factors that can affect the economy of a city is its infrastructure, mainly transport systems. With most cities characterized with serious traffic jams, people prefer to stay in areas where they can move easily without having to spend hours in traffic gridlocks. And city authorities are keenly listening, as they don’t want to see their places deserted leading to their shrinkage. They are expanding roads, building light rail systems, using the latest technologies to effectively control traffic. All these are done for one reason, to attract visitors and residents by improving the prospects of their urban areas.
Orlando has not been left behind. The city which is characterized by heavy traffic will benefit from the I-4 corridor expansion. This is a project that started some years back and is set to continue up to 2020. Once complete it will see the road expanded to ease traffic, improve drainage and also make connectivity and access within the city and surrounding areas much easier.
To help alleviate the traffic woes that characterize the city, FDOT has designed numerous bridges and an intricate exit. The eastern side of I-4 has a new bridge which eases the traffic heading south. The bridge will also help eliminate southbound traffic and connect to the eastbound exit ramp. The double decked highway on the west side will also make it easy for those who are just passing through the city.
Completion of this massive project will see the Orlando economy improve. It is expected that numerous retail estates will relocate to nearby plazas including new massive outdoor shopping centers like the Daryl Carter Parkway which is already under construction. Another shopping complex by the name of Vineland Pointe, expected to be three times the size of Crossroads, is expected to be constructed, all in response to openings and opportunities which are created by the highway expansion.
So, what does this infrastructural development present to the real estate sector? It is the best time to invest in real estate, the prospects are good. For those who are looking to sell, the economy boom is expected with the completion of the project. What this means is that the demand for both residential and commercial properties will increase. The shopping complexes will attract huge traffic and therefore property owners will see a rise in office spaces and shopping areas. For those who are looking to buy, it is important to start looking early as the soaring demand will lead to hiked prices. To benefit from this, it is important to get a real estate specialist that knows the market well. With that you can’t go wrong, you will reap from the benefits provided by I-4 Corridor Expansion Project.