Leading Central Fla Developer, Builder expects retirement-aged to lead home building recovery

Central Florida home builders could see the start of a dramatic recovery as early as next summer, says a leading area developer.
Jan. 5, 2009 - PRLog -- David Kohn, president of ABD Development Company, which is developing Providence Golf and Country Club community in the Loughman-Davenport area of Polk County and Wyndham Lakes Estates in south Orlando, said retirement-aged adults will likely lead the home-buying resurgence in the region.

“We anticipate the net in-migration of active adults will increase substantially starting next summer, and we expect the active adult market to lead a major recovery of the home building industry here that will peak in 2010,” said Kohn.

The recovery will be more measured than the housing boom, Kohn cautioned.

“We won’t see a return to 2005 levels of sales and construction but we should see a return to strong, sustainable levels of activity the Central Florida region is known for,” Kohn said.

ABD Development Company analysts anticipate a rebound of the U.S. securities markets resulting from economic stimulus programs a new presidential administration will launch, Kohn said.

“Once the immediate crisis wanes, lower interest rates, stability in the securities markets and exceptional values here should stimulate a return to sustainable growth rates led by the active adult segment,” Kohn said.

“As much as we worry over the national economy, the enormous baby boom generation is still retiring and a significant proportion of that market wants to retire to Florida’s warm climate and relatively affordable lifestyle opportunities,” Kohn said.

ABD Development Company, which ranks as one of Central Florida’s largest custom home builders, is also developing Toscana, a luxury community in Palm Coast.

Kohn said Providence Golf and Country Club community will accommodate some 4,800 new homes when the community is built out in 2018. Some 500 new homes have been sold at Providence and 1,700 new homes are planned in 20 different neighborhoods in the first phase of the development.

For more information, contact:
David Kohn, President ABD Development Company, 407-370-6400
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142
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