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Orlando, Florida, is on the front line of an industry trend as major employers like Universal and Disney look to close the area’s workforce housing gap.
Tom Anstey | Planet Attractions | 23 Jan 2024
Orlando, Florida, is on the front line of an industry trend as major employers like Universal and Disney look to close the area’s workforce housing gap.
Central Florida has seen some of the nation’s fastest pandemic-era rent increases, thanks to a confluence of job growth, migration and housing underproduction that has put a strain on residents. The average tenant in the region saw their monthly rent jump by US$600 between early 2020 and early 2023. According to the National Low Income Housing Coalition, the Orlando-Kissimmee-Sanford metro area has one of the worst affordable housing shortages in the US, with only 15 available units for every 100 extremely low-income renter households.
The dire need for workforce housing is behind the entertainment conglomerate’s latest project in Central Florida: a 1,000-unit mixed-use development, set to open in 2026, that promises to give tenants who work in the service industry a short commute to the constellation of tourist attractions and hotels nearby. To launch the project, Universal donated... More from Bloomberg
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