ORLANDO INDUSTRIAL7.2%+0.4%
MIAMI MULTIFAMILY$3,420+1.2%
TAMPA RETAIL4.8%-0.2%
US-192 CORRIDOR$340/SF+4.1%
30Y FIXED MORTGAGE6.72%-0.08%
FED PROBABILITY (PAUSE)92%+2%
ORLANDO INDUSTRIAL7.2%+0.4%
MIAMI MULTIFAMILY$3,420+1.2%
TAMPA RETAIL4.8%-0.2%
US-192 CORRIDOR$340/SF+4.1%
30Y FIXED MORTGAGE6.72%-0.08%
FED PROBABILITY (PAUSE)92%+2%
ORLANDO INDUSTRIAL7.2%+0.4%
MIAMI MULTIFAMILY$3,420+1.2%
TAMPA RETAIL4.8%-0.2%
US-192 CORRIDOR$340/SF+4.1%
30Y FIXED MORTGAGE6.72%-0.08%
FED PROBABILITY (PAUSE)92%+2%

How does the Sunshine Corridor affect Live Local Act development economics?

The intersection of the Sunshine Corridor and the Live Local Act creates the most powerful entitlement combination available in Florida, and the mechanism is specific and quantifiable. The LLA provides a 15% reduction in minimum parking requirements for projects located within a half-mile of a major transit stop, which includes confirmed SunRail stations and planned station areas with committed funding. On a 200-unit multifamily project in the OCCC station area, the standard Orange County parking requirement is 1.75 spaces per unit, totaling 350 spaces. The 15% LLA transit reduction brings the requirement to approximately 297 spaces, saving 53 structured parking spaces at $25,000 per space average construction cost. That is $1,325,000 in direct construction cost reduction on a single project. At higher parking construction costs ($35,000/space for a multi-level garage), the savings reach $1,855,000. This reduction converts marginal LLA projects near station areas into clearly viable ones by improving the development yield and reducing the total capital requirement. The entitlement timing is critical: the LLA density unlock and parking reduction are available now, today, on qualifying parcels in the station influence zones. A developer does not need to wait for the transit station to open to exercise the LLA entitlement. The transit premium is future value that accrues to the land over the hold period, but the LLA entitlement can be exercised immediately upon acquiring a qualifying parcel.