List Extra: Chuck Whittall shares tidbits on his 2023 outlook

Things may appear to be rough out there, but Chuck Whittall still is pretty confident about growth opportunities throughout Orlando.

The president and CEO of Orlando-based Unicorp National Developments Inc. — Central Florida’s largest and most active commercial real estate developer with 1.64 million square feet under development in the region — said he’s still experiencing plenty of demand the macro-economic challenges business face these days.

Whittall was named one of Orlando Business Journal‘s 2022 Power Players among the Heavy Hitters, those who make the news year after year, and whose companies have a lasting legacy in the region. Despite dealing with supply chain shortages and a shaky economy, Whittall’s firm found its footing — and is growing.

Here, Whittall shares why local development has survived, grown and thrives despite difficult times:

In which areas are you seeing new or sustained demand for commercial properties? The largest is in mixed-use, inclusive of lifestyle retail, grocery and multifamily. Rising inflation rates have increased multifamily demand as inflation has pushed up interest rates, creating more demand for apartments.

What are some key considerations in choosing the location of your next project? Throughout the pandemic Florida stayed open. Many other states did not, so all the opportunities here caused a large influx of the residential population. Everything we build caters to people and the more people we have the more growth we see. We are very content in Central Florida as we feel like we are in the center of the bullseye and that’s where we continue to grow.

What is your 2023 outlook? Super positive. I expect interest rates to come back down, and the demand for our industry to remain very strong. We always play to the market we are in and remain bullish on Central Florida growth.