Leading possibilities for development surrounding commuter train stations include multifamily, retail and office, Jones says. However, that type of development would be at a more practical scale, he adds: "I don't see anybody building a headquarters somewhere because it's so close to high-speed rail."

The immediate area surrounding new commuter rail stations would be ideal for development of net-lease buildings such as drugstores, restaurants and coffee shops, says David Sobelman, executive vice president with the Calkain Cos. in Tampa. Putting products and services near stations will drive passenger traffic, he says.

"They only way people will be attracted to commuter rail is to make it convenient for everyone," Sobelman says, pointing to Washington, DC's Metro stations as an example. Locating stations in areas with either pedestrian or parking density will aid urban redevelopment efforts, he adds.

Although developers are currently hard-pressed to obtain financing, the ongoing capital freeze may be resolved by the time the Tampa-Orlando line is finished over the next five years, Jones points out. In the meantime, communities can work together to determine the proper type of development surrounding stations, he says.

Even as Obama touted high-speed rail as one of many infrastructure projects leading to jobs creation and economic development during Wednesday's State of the Union speech, he chastised major US banks for not doing enough to help small businesses. He did not address the lack of capital that has stymied commercial development over the past year, despite a bank bailout that was "about as popular as a root canal" yet did little to prop open vaults.

During Thursday's speech, which drew an announced crowd of 3,000 to the Downtown Tampa college campus, Obama promised a return to Florida when the 168-mph train is ready to roll: "I'm going to come back down here and ride it!"