High-Speed Rail May Spur Development

TAMPA, FL-The prospect of a new high-speed rail line between this city and Orlando is still a few years away, which might be a good thing for developers of commercial real estate. Hopefully by the time the train stations open, availability of building capital will be much greater.

President Barack Obama held a town hall meeting Thursday afternoon at the University of Tampa to deliver $1.25 billion from the American Recovery and Reinvestment Act as a down payment on the 84-mile rail line, which will follow the path of Interstate 4. The first train could leave the station as early as 2015, with another 240 miles of track from Orlando to Miami planned later this decade.

Five sites are designated as train stops: Downtown Orlando, a site in Lakeland to be determined, Walt Disney World, Orange County Convention Center and Orlando International Airport. Whether these sites become spots for first-time or additional commercial development remains to be seen, along with access to construction lending when the time comes.