America is still in the sick bay after years of economic disease, but Orlando is set to get a fresh injection of investment appeal with the arrival of a new science development.
Lake Nona's Medical City will be home to the largest concentration of medical services in the country, including the Nemours Children Hospital and University of Central Florida College of Medicine. This state-of-the-art complex is scheduled to open in autumn, according to the Orlando Sentinel, giving the area a significant shot in the arm.
Indeed, the completed labs, clinics and classrooms will create more than 30,000 jobs by 2017, not to mention a cash injection of almost eight billion dollars.
Those in need of medical care are expected to rush to the area, with Florida already popular among retiring home buyers, but while Medical City, and other new residential developments, are a much-needed booster jab for America's economy, Orlando's property market is already well on the way to recovery, according to recent reports.
The median price of Orlando homes was running a temperature in June, according to the Orlando Realtors Association, rising by 15.74 per cent from the beginning of the year. Compared to last year, the swelling is even more severe, growing by 31.72 per cent from January last year.
And the recovery is contagious: Florida as a whole has seen prices and sales increase this year, according to the Florida Association of Realtors. Values rose by 8.2 per cent in June compared to the year before as feverish investors drove single family home transactions up by 31 per cent.
The Medical City promises a fit future for Florida, but while America's housing market slowly recuperates, Orlando already appears in ruder health than ever.
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