Posted on: May 5, 2014
In 2008 when the U.S. financial crisis hit, businesses in downtown Orlando were left struggling. The city of Orlando Florida started the Orlando Main Street Program to help local downtown businesses succeed and grow. The program identified 5 neighbourhood commercial districts to invest in; the city provides revitalization resources and financial support for the districts.
The video provides an overview of the economic situation in Orlando as well as information about the Main Street program’s project goals and accomplishments.
THE CITY OF ORLANDO FOUR-POINT APPROACH TO BUSINESS DEVELOPMENT AREAS
The city program follows a 4 point approach to help businesses grow, develop, and achieve sustainability. The 4 points consist of:
Organization – focuses on creating a cooperative team environment for businesses to help each other grow and thrive within their district
Design – provides the tools and resources to help local businesses improve their image and increase the walkability scores of business areas. It focuses on improving building maintenance and renovations, as well as street lights, signage, sidewalks, landscaping, and parking areas.
Promotion – helps the businesses effectively market their district’s unique features and plan special events to draw audiences to the area. This aspect of the program brings in shoppers, investors, and new business to further drive the success of the area.
Economic Restructuring – focuses on diversifying and strengthening the districts by offering assistance to existing businesses and helping new businesses emerge into the area. This area in the Four-Point Approach is dedicated to sustaining the success of the program and is committed to improving the economy of downtown Orlando.
The program was designed to restructure failing businesses areas, create more jobs, and improve the downtown shopping areas in Orlando.
WHY THIS IS A GOOD SIGN FOR FLORIDA PROPERTY INVESTORS
At MSR Americas we find undervalued Florida properties to invest in for high annual returns and long term equity growth. We select properties in the Orlando area because we estimate that the property in this area will have a significant return on investment. We like to see city projects that are dedicated to improving the quality of life for residents. This type of progress is great news for our existing clients who have invested in Florida foreclosures; we expect our Canadian investors will see steady increases in property values over the next few years.
The Main Street program is working; today the project has expanded to include 3 additional districts in the Orlando area. Interested investors can take advantage of turn-key Florida investment properties, or sign up for our investor registry for more information.