Community on the Rise: Pine Hills Neighborhood Improvement District Shows a Skilled Workforce and Strong Housing Market
The Pine Hills Neighborhood Improvement District (PHNID) has implemented a long-range vision for redevelopment that focuses on bringing together local businesses, citizens and government to build a brighter future. The PHNID recently came out with its 2020-21 Annual Report, and key indicators within the report are extremely encouraging for one of Orange County’s oldest and largest neighborhoods.
The economic environment in Pine Hills is composed of a diverse mix of businesses that provide services and employment to thousands of Orange County residents. Major employers such as Amazon, Coca-Cola, Frito-Lay and HD Supply have large production and warehousing facilities within the community, but it is not only the large employers that contribute to this vibrant economy.
Locally-owned and operated businesses also provide jobs and products unique to the Pine Hills area. The report found transactions made with these businesses often are from customers who have traveled to that business, whether in person or via the internet, from outside of the community.
To support this demand for goods and services, businesses require an educated and skilled workforce that can help them meet their production needs. The Pine Hills workforce population is comprised of approximately 76,000 residents, most of who are of working age (between 25 and 54). This workforce also is well educated, with a large number of high-school graduates and individuals who have completed at least some level of college education.
“Education level and the ability to provide additional skills training are critical components of an economic development strategy designed to recruit new businesses and support existing businesses interested in making significant financial investments within the community,” said Sam Weekley, executive director, Orange County Neighborhood Services Division, Pine Hills Neighborhood Improvement District.
Available housing stock and home sales are also key indicators of a community’s economic health. If housing stock is in demand, it is likely home prices will be higher. Home sales in Pine Hills have increased steadily in both sales volume and average final sale, reaching a pre-recession mark in November 2020.
According to recent Zillow home sales data, in zip code 32808 (east side of Pine Hills), average monthly home sales reached approximately $8.03 million in 2020. In zip code 32818 (west to northwest side of Pine Hills), average monthly home sales were $7.82 million with nearly $13 million in sales in March 2020. The 32818 zip code also reached an average final sale price high of nearly $235,000 in November 2020.
“The Orlando-area housing market is reaching all-time highs in total sales volume and final sale prices,” explained Weekley. “As the population continues to grow, along with inflated prices attributed to greater demand and lack of supply, the housing stock in Pine Hills will become even more valuable to first-time home buyers.”
For more information on the latest Pine Hills Annual Report and the Pine Hills Neighborhood Improvement District, contact Samuel Weekley at Samuel.email@example.com or 407-836-6266.