Lake Nona’s fastest-growing residential community, Laureate Park, reached a notable milestone this month by surpassing their 550th home sold. The community, which sits amidst the large and growing employment base of Lake Nona Medical City, features a variety of homes from top-selling builders, including Ashton Woods Homes, David Weekly Homes, Minto Communities and Taylor Morrison Homes.
“We are delighted with the early successes at Laureate Park,” said Lake Nona Vice President Rob Adams. “We are finding that our residents have been drawn to the unique home and neighborhood designs of the community, along with the many conveniences and amenities that living in Lake Nona brings.”
Lake Nona is Florida’s first gigabit community, offering its residents and businesses internet speeds up to 200 times faster than average U.S. internet connection.
Tavistock Development Company (TDC), a diversified real estate firm that specializes in planning, design, finance, construction and development, is pleased to announce the addition of Joanne Ling and Ginger Vetter, who will serve as senior leasing associate and leasing associate, respectively. Both Ling and Vetter bring a wealth of local industry experience to TDC, whose real estate portfolio is highlighted by the 7,000-acre, master-planned community of Lake Nona in southeast Orlando, Fla. The duo will help manage and oversee leasing opportunities among the diverse assets of the firm, which includes a wide variety of for-lease and built-to-suit options.
“We are thrilled to have Joanne and Ginger join the Tavistock Development team,” said Skipper Peek, vice president. “Their expertise will be key as our commercial portfolio expands at Lake Nona, The Grove at Isleworth and our other holdings,” he added.
This story is from the June 30, 2014 issue of FORTUNE
by Jennifer Reingold
Is Lake Nona’s medical and residential development the future of cities–or a unique creation that can’t be replicated?
As our helicopter banks sharply over Orlando, the sinuous shapes and bright colors of Disney World, Epcot Center, and Universal Studios rise up to meet our gaze. This is the land of the theme park, the most visited city in the U.S., and the ultimate family vacation spot.
But if you look away from the Technicolor fantasy toward the southeast, there’s something almost as striking: a collection of gleaming new commercial and residential buildings spread across 7,000 acres of land adjacent to the airport.
Ten years ago it was barren. Today it hosts a completely different Orlando, one that may ultimately transform the region as much as Disney World did back in the 1970s. Already the almost $3 billion (so far) endeavor has created nearly 5,000 permanent, higher-paying jobs, with 25,000 more expected by 2029. Arduin Laffer & Moore Econometrics has estimated that the project’s economic impact could reach $7.6 billion over the next 10 years.
The area is known as Lake Nona, and in the past decade the Tavistock Group, a global conglomerate, has created a thriving mini-metropolis there. It’s best known for its “medical city,” which includes the University of Central Florida’s new med school, the renowned Sanford-Burnham institute (where research is conducted on obesity, diabetes, and cardiovascular disease), a soon-to-open $1 billion Veterans Affairs Hospital, the Nemours Children’s Hospital, and offshoots of the MD Anderson Cancer Center and the University of Florida.