Monday Market Report – 3 Reasons to Buy a Home near a Main Street District

The Orlando Main Street Program it is a business development program for selected districts in the City of Orlando.  The program is a part of the National Main Street Center whose purpose is to offer business revitalization support in older business districts throughout the United States.  The main street districts receive financial assistance and training to help each of these business districts and businesses located within them grow and thrive.

OrlandoMainStreetLogo-300x157

In full disclosure, I am the current President of the Mills50 Main Street district.  As a volunteer for this organization, resident, and business owner in the district I can say firsthand these organizations do amazing things to promote and help grow these business districts into walk-able thriving communities.

Since the program has been in effect it has had great success.  If you have lived in Orlando more than 5 years, just take a stroll down Mills Ave, Corrine Dr. or Orange Avenue to see the difference!  As all of these great new businesses, boutiques, restaurants, bars, and breweries open in our main street districts it has a subsequent effect other than providing great places to shop and eat.  The residential communities surrounding these areas have become more desirable to live as well.  Here are the top 3 reasons you should buy a home near a Main Street District.

  1. There is a dedicated Board of Directors working to improve the community nearby!  
    • The Main Street Four Point Approach® outlines how each board can establish committees to help these business districts thrive again.   Through collaboration between business owners, promotion of the district and the businesses in the district, design improvements, and thoughtful use of existing buildings these organizations are creating desirable places to do business and to have fun!img_2274
  2. Walk-ability – Americans Prefer to Live in Mixed-Use, Walk-able (or bike-able!) Communities
    • In 2013, when asked to choose between a neighborhood that “has a mix of houses and stores and other businesses that are easy to walk to” versus a neighborhood that “has houses only and you have to drive to stores and other businesses,” the walk-able neighborhood was preferred 60 percent to 35 percent!
    • The National Association of REALTORS®2013 Community Preference Survey also indicated that although the size of a home matters most respondents were willing to compromise size for a preferred neighborhood and less commuting.BrickRoad_Bike_Plant
  3. Potential Resale Value – Home values are rising at great rates surrounding our Main Streets in Orlando.
    • It’s no secret the real estate market in Orlando is on the rise.  More and more buyers want to live in the neighborhoods surrounding these now thriving business districts. For example, the Colonialtown North neighborhood which sits to the East and North of the Mills50 district has seen home values increase +8.47% over the last 12 months.  Audubon Park which is the neighborhood bordering the South side of the Audubon Park Garden District has seen an increase in home values +7.89% in the last 12 months.
    • That is almost 30% higher compared to the average for Orlando as a whole.  As more improvements and growth come into these business districts, the demand for housing within walking distance should only grow making for a sound investment in real estate in the area!

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Want a taste of the Main Street Program – be sure to attend this year’s Main Street Restaurant Week!

Thinking of buying or selling in one of the Orlando Main Street Districts?  We have got you covered.  Call Kathryn at 407-494-2820 or email us at Kathryn@ThinkLiveBe.com

* National Association of REALTORS® 2013 Community Preference Survey

*Stats for home values Realtor Property Resource

*Image credit:  Logo from Orlando Main Street, all others my own.

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About Kathryn Stelljes PA

I am a Realtor in the Downtown Orlando area. I have earned a Bachelor's Degree in Marketing and a degree in Residential Planning. My background in these design fields has advanced my ability to sell in the realm of residential real estate. As a native Floridian and resident of Downtown Orlando I understand the growing needs for homeowners in the Central Florida home market and specifically the Downtown market. I enjoy sharing information about businesses, fun events, and the historic homes and neighborhoods that make Downtown Orlando such a unique and vibrant place to live. I love Italian Greyhounds, old houses, interior design and design blogs, social media networking, and anything marketing related.
This entry was posted in Downtown Lifestyle, HomeBuying Trends, Monday Market Report, Real Estate Market and tagged , , , . Bookmark the permalink.

One Response to Monday Market Report – 3 Reasons to Buy a Home near a Main Street District

  1. Pingback: Three Reasons to buy a home near a Main Street District! | Mills 50

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