Disney Relocation from California Could Boost Orlando Thriving Housing Market
It has been rumored for some time that The Walt Disney Company is planning, at least a partial move from California, to Florida. Such a transition of location would provide a boost for the thriving house hunting market in the well-established and successful Lake Nona area.
OBJ reported early January that Walt Disney World was in continued talks with Tavistock Development Co. in regard to the potential move of Disney divisions from the California area, to Lake Nona.
Realtor Peter Luu has emphasized to Business Journal the boost such a move would provide to the area that has already seen sustained success.
Luu is a realtor in the Orlando area noted that, “the housing market is still doing well in Orlando. This would just be a boost.” A move from California would take Disney approximately two years, when accounting for the office space necessary.
This according to the report by OBJ. given, then, the 2023 potential date of the move, Florida would expect to see executives house hunting in the area two years prior to the move; which would then bring the housing boom to lake Nona as early as this year.
The maintaining of these executives California based salaries would mean an increase in luxury home purchases for the Orlando area. Because of the price difference that is clearly evident between Orlando and California, these executives could afford some of the nicest homes Orlando has to offer.
This is a move that makes sense for Disney. In a rapidly evolving age of remote work, corporate relocation is one of the many reasons that these Californian executives would opt to relocate to a Florida residency.
The business journal notes the undeniable ‘Halo Effect’ that would occur from such a big move, and how beneficial this sort of transition would be for the Orlando economy. The housing market is often a reflection of an area’s local economy, and a Disney move across country would undoubtedly impact Florida’s.
Lake Nona is a highly sought-after part of the Orlando area, and Disney building office spaces, and providing means for company-wide relocation, will only encourage and facilitate even more growth.