Orlando, FL—On October 13, the Florida Redevelopment Association (FRA) recognized the City of Orlando and GAI Consultants, Inc. (GAI) for the Downtown Economic Indicators Study project. The project was honored in the Fiscal Impact Study category at an awards banquet during the FRA 2016 Annual Conference.
Highlights/Key Facts
About the Project
- In 2011, Downtown Orlando’s Community Redevelopment Authority (CRA) retained GAI’s economic and real estate services consultants to provide quarterly updates on key economic development indicators.
- The goal was to identify trends with up-to-date empirical data that could better prepare elected leaders and staff in the decision-making and budgeting process as well how to best leverage resources.
- The market data addressed business trends, hospitality and tourism trends, residential for sale and rental trends, and commercial office trends on a quarterly basis—it also broke the data down into four distinct geographic areas within the 1,600-acre CRA.
- The market information has been used in a number of ways, particularly as a data source for potential developers and investors, budget preparation for both the City and the CRA, and supporting documentation for grant applications.
- A significant by-product of the information has been used to support other public and private investments including Sun Rail station locations, the City’s Performing Arts Center, Amway Center, Citrus Bowl, multi-family residential developments and neighborhood stabilization initiatives, and the proposed UCF Downtown Campus.
- Senior Director David Darsey served as GAI’s Project Manager.
About the Award
- The award was presented to the City of Orlando and GAI Consultants at the FRA’s 2016 Annual Conference awards banquet on October 13 at the Hilton Orlando I-Drive in Orlando, Florida.
- The FRA presents awards annually to projects that exhibit the best practices in Florida redevelopment over the past year.
- The FRA awards committee carefully selects the winners from over 60 entries that embody the spirit of successful community redevelopment and revitalization.
- Founded in 1974, the FRA is a not-for-profit organization dedicated to assisting Florida professionals and volunteers in community revitalization efforts.
“We are pleased and honored to share in this award with the City of Orlando. The City has been a long-time client and we have greatly enjoyed our collaboration on this project, as well as our prior assignments. In our opinion, the City of Orlando is one of the most pro-active and progressive municipalities we have ever worked with, and that attitude is reflected in the significant downtown development that has occurred over the years. The major investments the City and its partners have made in venues such as the Amway Center, the Dr. Phillips Center for the Performing Arts, and Camping World Stadium have helped make the downtown area a great place to live and work.”
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Brittney LeTourneau
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321.319.3035
Leah Tuscan
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321.319.3025
