ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
The International Drive tourist corridor is turning into a battleground between hotel and apartment developers hunting some of the last open space in one of Orlando’s most popular districts, according to experts.
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“What we’ve seen is that a lot of the land sites that are available have been priced up to accommodate more multifamily,” said Kyle Sahlsten, an associate director in hotels and hospitality for Berkadia.
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While neighborhoods such as Tangelo Park go back to the early days of Orlando as a citrus town, residential living among the bustling entertainment corridor is relatively new. There were 319 apartments in 2000 from the Orange County Convention Center to Oak Ridge Road in the north and between Interstate 4 and the Florida Turnpike, according to analytics firm CoStar Group.
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