That the glut of units on the market now will soon be a deluge really isn't news to anyone, but what I do find interesting to note is who might be relying on the assumption that these units will be occupied, and not only that -- additionally assuming the occupants will be able to afford more than their mortgage.
Orlando has little in the way of sophisticated nightlife (if you've never been here, we have a nightclub bearing Paris Hilton's name, and that should say it all), so we were pleasantly surprised to discover The Exchange Lounge downtown, which features a cigar and wine bar upstairs. The space is decorated like an old boys' club, and the bartender indicated the third floor will soon be a champagne room.
Sadly, we were the only patrons in the joint. The bartender said this was a typical state of affairs, but not to be concerned; it'd been opened nine months prior and was funded by Backstreet Boys' manager Lou Pearlman's deep pockets, as is most of the refurbishment of Church Street. Lou firmly believes that once construction is finished on all of these condo buildings downtown, he'll have plenty of patrons.
To Lou's credit, Pearl's -- the steakhouse adjacent which bears a portion of his last name -- appears quite popular. I hope he's right because I rather like this lounge, but I strongly believe his assumptions are flawed.
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