Things To Do In SW Florida

Just two weeks ago, Alexie Fonseca, senior VP for Colliers, was sitting on a panel at a local real estate industry luncheon when an audience member asked what her dream development site would be. She didn’t hesitate: the former Orlando Sentinel property.

“I’m dying for that site — I just have so many great ideas,” she told the NAIOP attendees, according to a report in GrowthSpotter. “I know how it should be redeveloped. It’s a sexy site, and I think it would really change downtown.”

The comment was prescient, as she later learned that the Miami investors who bought the former newspaper property had been meeting privately with Mayor Buddy Dyer to discuss a transformational, $2 billion plan for the site. But much has to happen before the long-awaited project becomes reality.

Midtown Development, led by Alex Vadia and Richard Perez, bought the nearly 20-acre, two-block site at North Orange Avenue and East Colonial Drive in 2016 for $35.1 million. It was the firm’s second major investment in Orlando; Midtown previously acquired the vacant 400 block of North Orange across from the county courthouse and sold it for $17 million to Property Markets Group, which developed the 27-story Society Orlando apartment tower there. read more

Gov. Ron DeSantis said Thursday he’s working with Senate President Ben Albritton, R-Wauchula, and other lawmakers on legislation aimed at protecting Floridians from effects of rapidly developing artificial intelligence.

Warning that without sufficient safeguards, the technology could result in an “age of darkness and deceit,” DeSantis said the legislation will address issues such as protections from Chinese-created AI and deep fake videos and the impacts of huge data centers on the environment, water resources and utility bills.

“These are legislative proposals. … We’ve worked with a number of senators and … some House members. You know, I personally had discussions with President Ben Albritton,” DeSantis said during an appearance in The Villages.

DeSantis’ comments came as House Speaker Daniel Perez, R-Miami, has declared next week “Artificial Intelligence Week” in the House. A variety of House panels will look at AI issues.

“As policy makers, our understanding of the issue is complicated by the rapid emergence of this complex technology, and, as we’ve seen with social media, short-term legislative choices can have serious long-term consequences,” Perez said in a Nov 18 memo. read more

By ALEX VEIGA, AP Business Writer

The average rate on a 30-year U.S. mortgage fell again this week, slipping close to its low point so far this year.

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The decline brings the average long-term mortgage rate to 6.19% from 6.23% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.69%.

This is the second straight weekly drop in the average rate after three straight increases. It’s now at the lowest level since Oct. 30, when it was at 6.17%, the lowest level in more than a year.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell this week. The rate averaged 5.44%, down from 5.51% last week. A year ago, it was 5.96%, Freddie Mac said. read more

The tourism industry, as measured by tourist tax collections, continues its boom in Orange County.

On the heels of a record-setting 2024-25, the Tourist Development Tax (TDT) raked in $33.9 million in October, the start of the new fiscal year, according to numbers released Thursday by Orange County Comptroller Phil Diamond, whose office tracks the receipts.

Diamond said the surge out of the gate was surprising.

“These collections are especially impressive because the federal government was shut down during the entire month of October,” Diamond said, noting the shutdown limited air travel, affected federal workers’ earnings and likely caused some to put off vacations.

Revenues generated by the county’s 6% surcharge added to the cost of a hotel room, a home-sharing rental like Airbnb or VRBO and other short-term lodging options were up more than $4.4 million or 15% from a year ago, Diamond’s figures show.

The revenue report generally trails collections by about five weeks. The November figures are set for release in January. read more

LONDON (AP) — WhatsApp faces an antitrust investigation in the European Union, where regulators said Thursday that they’re looking into the messaging service’s artificial intelligence policy.

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The European Commission said it opened the formal investigation because of concerns about WhatsApp’s move to limit access for third-party AI providers.

WhatsApp, owned by Facebook parent Meta Platforms, rolled out its AI chatbot feature for European Union users in March after delays.

The Commission, which is the bloc’s executive arm, said a recent policy update could mean that rival AI companies are blocked from offering their AI assistants on the platform, while Meta’s chatbot service remains accessible to users. Regulators are scrutinizing new terms and conditions for business customers, who can use AI assistants to communicate with customers over WhatsApp. read more