It’s no longer a secret that Spirit Airlines is planning a new HQ in Florida.
The airline recently announced plans to invest $250 million towards building a new global HQ in Dania Beach, Florida. Orlando, as we discovered was one of the cities initially considered by the budget-carrier to host its new headquarters.
Although site plans have now been submitted to the City of Dania Beach, it could have been yet another major boost for a buoyant Orlando real estate market that many investors are promoting as the top market for rental properties and flips in Florida. This could also have been another impressive addition to the long list of recent Central Florida investments.
Spirit Airlines: The Project
The new Spirits Airlines HQ will be a 500,000-square-feet campus, along with a crew training facility. It is expected to support 1,000 employees while also adding hundreds of new jobs over the next five years. The carrier has already entered into an agreement with Kimco Realty to secure the land. Gensler has also been chosen as the lead architectural firm.
The move by Spirit Airlines is seen by many as a bid to solidify its position, to bolster its Florida presence after two decades since it moved to its current headquarters in Miramar, Florida.
The project is expected to be completed and opened by 2022.
Orlando’s growing economic potential
Orlando missed out on adding the new HQ to its share of major Central Florida investments. Regardless, much can be said about why O-Town was even being considered in the first place.
The city has come a long way to emerge as a major investment hub in Florida. This city is the third-largest metro area in Florida and the sixth-largest metro area in Southern US.
‘Theme Park Mecca’ as it is fondly called, drew some 75 million visitors in 2018. These reasons and many more explain why Orlando International Airport is one of the busiest airports in the world.
Being considered among likely candidates for the new Spirit Airlines’ headquarters goes on to show just how much potential many investors see here.
In 2019, the Orlando real estate market recorded what was seen as one of the most impressive gains across the country. The city with steady population growth has been described as a thriving market for job seekers and those looking to buy properties.
Orlando may have missed out on another opportunity to bolster its already impressive profile as one of the major Central Florida investment destinations.
However, the fact that it was even considered by this popular airline says a lot about the strength of the economy. It’s a reflection of how far the city has come and much more about the potential that lies ahead.
The Orlando real estate market recorded impressive gains in 2019.
This trend is expected to continue in 2020 and beyond, according to Mashvisor. Orlando, Florida brims with plenty of economic potentials and opportunities. Even with the new Spirits Airlines HQ now out of the picture, that much is easy to see!