This area does not need any introduction. It’s the number one vacation home destination in the world. 

Many development teams believe that tourism is slowing due to the pandemic, but that’s far from true. In Osceola County, we certainly experienced a downturn; however, the last few months have proven that visitors and locals alike are ready to get back out there with the help of safety measures. Here are seven reasons developing in the West 192 area could benefit your client’s bottom line.

1. High traffic has returned to the West 192 area

With people visiting from all over the country, locals like to patronize businesses on the tourism corridor, making a perfect formula for developers. West 192 can see over 1.3 million vehicles on its roads in one day. High traffic volume from vehicles and pedestrians is a result of heavy development, which has increased accessibility and intensified its desirability for visitors, especially for those looking to invest in property.

In our second quarter of 2021, tourism activities on West 192 accounted for 65% of all sales tax revenue for Osceola County from the $3.5 billion in visitor spending, that's $260 million in sales tax. We are also seeing a 53% increase in vacation homes in our community in addition to the 132 hotel properties already on the corridor. 

2. Property values are at an all-time high

The real estate market is booming nationwide. There isn’t a better time to buy and reap the benefits of these ever-growing property values. West 192 brought in $1.8 billion in New Construction in 2020. In the housing market alone, West 192 brought 11 times more than market bottom. Developers looking to build in Central Florida will find that properties on the West 192 corridor are ready for redevelopment, meaning the properties are often lower cost than those with structures on them. Currently, there are people who are looking to take advantage of this opportunity and invest in property. Still, it is essential that these people know what they are getting into before purchasing property.

3. Grants are available for desired projects

Grants are an important aspect of the funding process for many projects and can provide much-needed relief to developers. Our grant programs come in many different forms and can be applied to various projects, large and small. It is essential to have a detailed vision of your project before applying for grants that best suit your needs. Check out the grants we offer for development in Osceola County, Florida, specifically on the tourism corridor.

4. The West 192 Development Authority is a family

As hospitality professionals, we know how to care for people, including those we live and work beside every day. To make this tourism corridor one that people want to visit and build on, we periodically host networking and informational events at various hotels or attractions. Every month, we have a West 192 Development board meeting to review upcoming projects and share important news. This keeps everyone informed, and as a bonus, we get to see each other in person! 

West 192 is growing every day, bringing entertainment, diverse cuisine, and attractions to the over 75 million visitors who pass by our corridors annually. We are committed to supporting and maintaining projects that will be a part of one of the largest redevelopment projects in the nation. 

Are you interested in developing on our corridor? Check out the incredible grant programs we have available!