Investment Homes Orlando

Times In-Depth: What runway extension means to Erie

Erie International Airport is extending its runway -- all the way toward Atlanta; Orlando, Fla.; and Cancun, Mexico.

After decades of planning for a longer runway, construction on the final project began in June.

Commercial and charter airlines are taking notice. They are expressing interest in connecting Erie with a variety of distant cities -- including Orlando, Atlanta and Cancun -- when the $83 million project is completed at the end of 2012, airport Executive Director Chris Rodgers said.

There are no firm commitments that air service will be expanded. But prospects look good, especially for service to Orlando, Rodgers said.

"It's the No. 1 destination of the people who use this airport; more people fly to Orlando than any other place. There are airlines that are aware of that and want to take advantage of that," Rodgers said. "We could also see the return of service to Charlotte and Atlanta and more vacation charter flights."

Not every airport that has extended a runway so far has attracted additional air service. An airport in Flagstaff, Ariz., recently completed a runway extension -- and lost a commercial carrier during an industry downturn fueled by soaring fuel prices.

"There are no guarantees with this. But without the extension, we're guaranteed not to have that potential," Rodgers said.

While additional air service would be welcome, improved safety is the primary driver for the extended runway -- and for the money that the state, federal and local governments are investing in it.

The existing 6,500-foot-runway does not meet Federal Aviation Administration safety standards. The FAA requires a 1,000-foot safety area at each end of the runway. Erie has much smaller safety areas, including one less than 100 feet long at the western end of the runway.

Two commercial planes over the years have gone into or across that inadequate safety area.

A Spirit Airlines DC 9-30 charter jet bringing 113 passengers home from Atlantic City skidded off the runway and into mud near Asbury Road in March 2002.

In February 1986, a US Airways DC-9 carrying 23 passengers from Toronto skidded off the runway, across about 100 feet of frozen ground and onto Asbury Road.

No one was seriously hurt in either accident, but the incidents added to the clamor for a longer runway, Rodgers said.

Holiday in Orlando?| House Hunters Find Amazing Vacation ...

Spend This Holiday In Orlando, While Making A Long-Term Investment

With Easter closely approaching, there’s no doubt that people will be spending their holiday in Orlando. House hunters and those alike, ought to take notice at the amazing vacation and investment properties here in Orlando and all over the state of Florida. The sunshine state naturally lures visitors with its endless tourist hot-spots, orange groves, and of course, the beach-perfect weather. Now add a dash of a low buyer’s market into the mix, and we have house hunters returning year after year to spend their holiday in Orlando.

Those who spend their vacations in Florida have never considered purchasing a vacation home or an investment property before. It is much more feasible than one may suspect.

The 7.9 million vacation homes and 41.6 million investment units throughout this country have made house hunters very happy buyers. By definition, vacation homes are recreation properties purchased primarily for a house hunter’s (or their family’s) pleasure, whereas investment homes and residential properties are purchased primarily to rent to others, or to hold on to for other purposes. Whichever category you see yourself falling into, all buyers alike can begin imagining themselves spending their holiday in Orlando, away from the high-rent hotels or villas.

There are many reasons to make your holiday in Orlando, or other Florida cities, a more permanent investment. The following are just a few reasons to buy now:

-The market share of vacation and investment home sales held steady last year.

-Interest rates are still close to five-year lows, but economists warn they won’t last long.