Orlando Marks New Year With Economic Rebirth of its Downtown

ORLANDO, Fla.--(BUSINESS WIRE)--The City of Orlando’s Downtown core is roaring into the new year with unprecedented development, as entertainment, transportation and technology drive billions of dollars in activity.

“But through Mayor Buddy Dyer’s leadership, we are moving forward with concrete plans to diversify and bolster the commercial, residential and cultural landscape of Downtown.”

More than a dozen major projects in the city’s central business district – fueled by private and public investment and ranging from mixed-use developments to an innovative digital arts complex – are making Orlando not only the top tourist destination but a leading location for commerce.

A driving force is development of a 61-mile commuter rail, to be fully operational by 2014. SunRail will pump $8.8 billion into the local economy and follow in the footprints of Amway Center, a sports and entertainment complex that posted a profit and hosted 1.4 million-plus people in its first year.

SunRail is forming a new transportation spine through Downtown, but an array of projects are putting meat on the bone, including:

• Central Station. The first phase of this private, $200 million development is getting under way, comprising a major hotel, residential, retail and office space, and connecting directly to the SunRail/mass-transit hub.
• Orlando Magic Corporate Relocation/Sports & Entertainment Complex. Buoyed by success at the Amway Center, the Orlando Magic are laying the groundwork for a multimillion-dollar entertainment/headquarters development adjacent to the existing complex on historic Church Street.
• Creative Village. Demolition of the former Amway Arena is under way, marking the first step toward development of a 68-acre digital-arts community where cutting-edge businesses, education facilities, residences and other infrastructure will converge. Former President Clinton recently touted Orlando as a national model in digital-arts and computer-simulation technology.
• Dr. Phillips Center for the Performing Arts. This nine-acre, state-of-the-art complex, which broke ground in June, will comprise three unique theater venues plus educational facilities showcasing Broadway productions, concerts, ballet and more.

These and other developments will employ thousands during construction and operational phases and net hundreds of millions of dollars for the economy, said Thomas Chatmon, Downtown Development Board executive director.

“Many cities are struggling,” Chatmon said, “But through Mayor Buddy Dyer’s leadership, we are moving forward with concrete plans to diversify and bolster the commercial, residential and cultural landscape of Downtown.”

To learn more, visit www.DowntownOrlando.com/Newsroom.