Tax breaks offered for development near SunRail - FOX 35 News Orlando

Tax breaks offered for development near SunRail

Posted: Updated:

An apartment complex developer is getting the latest of what is expected to be several tax breaks for developing property near SunRail stations in Central Florida.

When companies develop land, most of the time they are required to pay what are called Transportation Impact Fees.  Basically, if your development adds traffic, you pay a tax to offset the effects and help build up the transportation system.

That will not be the case at the 300 unit apartment complex being built at 420 E. Church Street near downtown Orlando, and Mayor Buddy Dyer says that's done on purpose.

"We are all about creating density and having people able to travel without having to use their cars."

Mayor Dyer says any company developing near SunRail stations or Lymmo stations can ask for and are likely to receive the incentive.

"We have created a transit oriented development incentive I guess where we've relaxed the transportation impact fees... and it's because we want to promote growth near transit stops."

The mayor says apartment complexes are the hot product both in downtown Orlando and nationwide. This property has a free Lymmo bus station right across the street, and the Church Street SunRail station is just 5 blocks away. We asked him if being near SunRail stations is where developers want to build, why give them incentives to do so?

"I think this is a small piece of a 16 million dollar project in the heart of our city, but again we want to continue to encourage urban infill development. It's far easier and less expensive to develop out in the hinterlands, but we don't want that anymore. We want people developing right on transit lines."

People that move there may have a difficult time living without a car, since neither SunRail, nor the Lymmo bus system runs on weekends.

Follow us on Pinterest


FOX 35 Weather Authority

Powered by WorldNow

35 Skyline Drive
Lake Mary, FL 32746

Phone: (407) 644-3535
News Tips: (866) 55-FOX35

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices