Downtown Action Plan
The city of Orlando is kicking off its $750-million Downtown Orlando Action Plan, which is aimed at transforming its urban core. This will eventually mean converting major one-way thoroughfares like Orange and Rosalind avenues to two-way streets to slow down pass-through traffic, while also enhancing green spaces and adding wider sidewalks and pedestrian-friendly amenities to improve walkability and hopefully attract more shops and restaurants.
The whole thing starts this year on Magnolia Avenue, a one-way street that’s about to become a two-way street with more street parking and better sidewalks. The redesign will accommodate the LYNX transit agency’s downtown LYMMO, a Bus Rapid Transit service that will still have its own dedicated bus lane along Magnolia Avenue.
Inspired by Nature
In South Korea, China, Hong Kong, Dubai, New York City and Las Vegas, a Korean company called d’strict operates “Arte Museums,” which are billed as immersive digital art experiences. Now the company intends to open one in Orlando’s ICON Park, an entertainment complex south of Universal Studios with attractions, shops and restaurants.
Each Arte Museum features floor-to-ceiling digital displays that are designed around the theme of “Eternal Nature.” The Orlando location is slated to open by 2027.
“Arte Museum is unlike anything else in Orlando,” says Chris Jaskiewicz, president and CEO of ICON Park. “This is more than an exhibit — it’s an experience that transforms how guests see, hear, feel and even smell art.”
Planes with Parachutes
Cirrus Aircraft is a manufacturer of private jets equipped with emergency parachutes. In the event of engine failure or a midair collision, the plane deploys a parachute that safely lowers the aircraft to the ground. Cirrus says its parachutes have saved more than 200 lives since they were introduced in 1999.
Now Cirrus is expanding its operation at Kissimmee Gateway Airport. It plans to lease eight acres from the city of Kissimmee to build a 66,000-sq.-ft. complex with aircraft maintenance hangars — five times the size of the company’s current hangar there, creating 100 new jobs.
- HOSPITALITY
Jim Gissy
CEO
Westgate Resorts, Orlando
OUTLOOK: “We’re very optimistic for the continued growth of the leisure travel industry in Florida. The ongoing investments in major attractions in the area are helping to continue to drive leisure travel to the area, and our eight area resorts are benefitting from that. We’re also investing in new amenities and attractions.”
BRIGHT SPOTS:
“Leisure travel to Florida continues to drive positive trends. We think that softness from Canada in 2025 will start to wane and visitors will start to return in 2026. Travelers are still going to be looking for deals and special experiences, which Westgate is well positioned to provide with our suites and on-site amenities.”
“AAA expects that cruising will set another record in 2026, which helps drive overall inbound traffic to the state. Westgate picks up a lot of pre-and post-cruise stays as people look to extend their trips in Cocoa Beach or Orlando.”
“Epic Universe will continue to drive traffic in Central Florida as first-time visitors add that to their travel.”
HIRING: “We’re always hiring. We have dozens of jobs open across Florida at any given time, and our Central Florida employment is around 4,000 strong right now. Our resorts are currently hiring people for our guest-facing resort operations and sales and marketing roles, and our corporate offices are hiring for key roles in technology, customer service, finance and marketing. Florida has a dynamic economy with a combination of in-migration and local shifts that allow us to find the talent we need. We haven’t been impacted by immigration policies at this point.”
- REAL ESTATE
Lawrence Bellido
President
Orlando Regional Realtor Association
OUTLOOK: “The outlook for Central Florida’s real estate industry is cautiously optimistic as we move into 2026. We’ve already seen some encouraging signs, such as falling interest rates, that have started to inject more energy into the market. We’re not experiencing the extreme pace of the pandemic housing boom, which was very challenging for buyers. With inventory levels continuing to increase and a slight dip in home prices, the market is finding balance. Buyers have leverage to ask for things like closing cost assistance or repairs, and sellers are getting fair market value. This kind of stability is beneficial for long-term growth, and as we head into 2026, I expect this trend to continue, fostering a steady market.”
CHALLENGES/BRIGHT SPOTS: “One of the biggest challenges we’ve faced in recent years is an affordability gap. Home prices and interest rates previously led many would-be buyers to sit on the sidelines. Now, home prices have leveled off, and rates have started to come down, which has begun to reinvigorate the market. The increasing diversification of the market is another bright spot for 2026. With out-of-state and international buyers moving to Florida, we’re seeing a more dynamic and varied buyer pool. And with job growth and more investment in infrastructure — like the Brightline rail and the medical hub in Lake Nona — Florida continues to attract new residents. This strong economic foundation provides a sense of stability and long-term growth, which is essential as we look ahead to 2026.”
- HIGHER EDUCATION
Albert Mosley
President
Bethune-Cookman University, Daytona Beach
OUTLOOK: “Higher education is at a pivotal moment. Nationally, we’re approaching what’s often called the ‘demographic cliff’ — by 2026, the U.S. will see the smallest number of high school graduates in a generation. While Florida has been somewhat shielded from that decline, the ripple effects are real. Yet amid those challenges, we’re seeing a remarkable resurgence in historically Black colleges and universities.”
CHALLENGES/BRIGHT SPOTS: “We’re expanding access through B-CU Global, launching in January 2026, which opens new pathways to our accredited degree programs for veterans, working adults and students around the world. At the same time, B-CU Futures is preparing students for tomorrow’s workforce with eight new degree programs in emerging fields such as artificial intelligence, cybersecurity and health care administration. We’ve also launched B-CU Health Scholars, creating pipelines for students pursuing medical and health professions, and strengthened our research enterprise through the B-CU Research Initiative and our new partnership with McAllister-Quinn to expand grants and faculty innovation.”
- HOME BUILDING
Sammy Duda
CEO
DUDA, Oviedo
OUTLOOK: “Homebuilding on Florida’s Space Coast has adapted to the headwinds of interest rates and affordability challenges that softened the market in late 2024 and the second quarter of 2025 but is recovering due to the continued 2% annual population growth and nearly 2% job growth with high-paying aerospace and defense industry jobs. Quarterly starts on the Space Coast increased almost 5% year-over-year, and the market is currently 6% undersupplied, which demonstrates continued underlying strength in market fundamentals. Commercial activity on the Space Coast continues with new and increasingly more affluent residents reshaping demand for higher-end retail, restaurant and entertainment offerings, despite hurdles from higher development costs and a tighter lending environment.”
HIRING: “We are in hiring mode, especially in the digital transformation space. Business intelligence/analytics, cybersecurity, ERP, and integrating AI, to be more specific. While there are many very good candidates in the Central Florida region, it is becoming more difficult to recruit from out of the area due to the uncertainty around the economy and increasing costs around selling and buying a new home.”
TARIFF IMPACT: “To date, recent land development and homebuilding construction projects have not demonstrated any increased costs or potential delays in material availability, which may also reflect some softer market conditions versus the frenzied pace of COVID and post-COVID homebuilding and land development activity. However, news of tariffs seemed to contribute to some of the economic uncertainty, which led to buyers not willing to commit during mid2025 despite steady traffic numbers.”
CHALLENGES/BRIGHT SPOTS: “Affordability, insurance premium costs and interest rates remain the strongest challenges in the real estate market, as existing homebuyers with historically low mortgage rates are not inclined to sell and sacrifice their current low mortgage rates. The challenge of interest rates may also be the bright spot if the recent rate cuts continue into 2026 and can deliver a 5.5% to 5% rate for 30-year fixed mortgage loans, which many new homebuyers are waiting for.
Central Florida remains a very desirable place to live, which is a bright spot for recruiting talent and being in the homebuilding and real estate business. Uncertainty around interest rates, tariffs, insurance and the overall economy remain a challenge.”
Affordability, insurance premium costs and interest rates remain the strongest challenges in Florida’s real estate market.
Business Briefs
BREVARD COUNTY
- Port Canaveral has added a third mobile harbor crane to handle heavy cargo as well as reusable SpaceX rocket boosters that land on platforms in the Atlantic Ocean. Port commissioners were unhappy about having to pay a 10% tariff on the German-built crane, which added $730,000 to the cost.
- The personal finance website WalletHub has named the city of Palm Bay as “the Best City in America for First-Time Home Buyers.” It analyzed 300 U.S. cities and ranked them based on affordability, real estate market strength and quality of life.
LAKE COUNTY
- Lake Margaretta Estates, a proposed 196-acre subdivision in Leesburg from Orlando developer American Land Development, was approved by the Leesburg City Commission. It could include up to 586 homes.
ORANGE COUNTY
- Work has begun on a $560-million expansion of the Orange County Convention Center, which is projecting $5 billion in business for 2026, which would be a record. Tourism taxes are paying for the expansion, which is slated to be done by late 2029.
- Three years after publicly feuding with Disney, Gov. Ron DeSantis appointed Walt Disney World President Jeff Vahle to the University of Central Florida’s Board of Trustees.
- Orange County Public Schools is selling its 100- acre Hungerford site in Eatonville, one of the largest undeveloped properties left along Interstate 4, to Dr. Phillips Charities, which plans to redevelop it based on the town of Eatonville’s long-term vision.
- In the latest attempt at bringing spring football to Orlando, the United Football League announced that its Orlando Storm expansion team will start playing this spring at Inter&Co Stadium, home to professional soccer teams Orlando City SC and Orlando Pride.
OSCEOLA COUNTY
- The city of Kissimmee will partner with Vine Street Redevelopment on a blighted 22-acre city-owned property, the site of a Kmart that closed in 2017 and a Big Lots that closed in 2025. The city envisions a mixed-use destination with more than 600 residential units, retail, green space, parking garages and a 73,400-sq.-ft. sports arena designed to serve as a community hub.
- Two companies, the Ambar hospitality brand and Apartments by Marriott Bonvoy, are collaborating to develop a 322-unit hotel-condo complex near Walt Disney World called Ambar Residences Orlando. Its condos, which will range from studios to three bedrooms, are to range in price from the $300,000s to the $700,000s.
SEMINOLE COUNTY
- The Central Florida Expressway Authority plans to construct a long-proposed toll road in a fast-growing area of Seminole County between Orlando Sanford International Airport and State Road 417. Construction of the two-mile, $200-million road is years away because CFX must figure out how to pay for it while acquiring properties along the route.
- Seminole County commissioners raised the county’s property tax rate for the first time in 16 years, saying it was necessary to pay for the rising cost of insurance, inflation and law enforcement. Florida Chief Financial Officer Blaise Ingoglia bashed the county for what he called excessive spending, with the county responding that its budget has risen because of mandates from state government.
SUMTER COUNTY
- Officials at The Villages have been considering having its gates automatically open for all vehicles. This has led some residents to question whether to have the gates at all. Some residents complain about having to roll down their window and wave a card to open the gates, while in reality any driver can push a button at the gate to gain access to The Villages’ public roads.
VOLUSIA COUNTY
- A $220-million expansion of the 12-story AdventHealth Daytona Beach hospital is expected to be finished this fall. It will add 104 beds and more than 240,000 square feet of space to the 362-bed hospital.