It appears Florida East Coast Industries (FECI) will be moving forward with its “All Aboard Florida” project, which will establish a passenger rail system between Miami, Orlando and Tampa. Since FECI is not relying on government funds for the project and is prepared to invest upwards of $1 billion more than it already has in the private deal, Floridians expect to see the three urban areas connected by an efficient, low-cost means of travel rather than have the plan fall through the cracks. FECI has already acquired much of the needed material and real estate and expects to have the train up and running as soon as 2014. For more on this continue reading the following article from JDSupra.
Here in Florida, one of the big things that those in the real estate industry are watching – and excited about – is the announcement by Florida East Coast Industries (FECI) of their new project, “All Aboard Florida,” which will be a private passenger rail line connecting people between Jacksonville, Miami, Orlando, and Tampa. It’s an especially interesting piece of Florida land development since FECI will be doing this without any financial subsidy from the government.
Private Rail "All About Florida" Is Big for Florida Land Development
FECI is already on the move. It’s already bought in excess of 200 miles of necessary track and between now and 2014, FECI will be boosting those tracks to tip top shape while also getting track in place to complete its plan to include Orlando in its route.
FECI is going to be putting an estimated $ 1 billion toward getting the All Aboard Florida rail system up and running by 2014, at least for the Miami-Orlando section. They’re estimating it will take as long on their rails to go between Miami and Orlando as it currently takes Amtrak passengers to travel between New York City and Washington, D.C.
Excitement Over Florida’s Future Spreads Around the Country as Things Are Looking Up in Florida Real Estate Development and Investment
This is big, big news for Florida. However, it’s not the only excitement percolating in Florida real estate circles. Consider the following news stories today that discuss the reality that Florida land developers and real estate leaders are seeing real, positive change in the Florida real estate market.
We’re seeing a better future, and we’re seeing it now in Florida real estate development. For more, read:
- Donald Trump’s take on things in an NBC News interview.
- The Palm Beach Post’s coverage of several real estate developments portending a brighter future.
- The promotion of next month’s Real Estate Florida Conference.
Things are looking better here in Florida, and while we’re not out of the woods yet – we’re getting there. Those in the know are seeing light at the end of the tunnel, which is a good thing for all of us who live and work in this beautiful state.
This article was republished with permission from JDSupra.