Margaritaville Resort Orlando, one of the largest project underway in Kissimmee, is making progress.
It has reached a sales milestone with more than 250 reservations and deposits for its first phase of construction, which includes vacation cottages as part of the overall 300 acres development. The company has increased its plans for its Margaritaville-brand hotel to 187 rooms, up from 175 rooms. In addition, the project's sales center — part of the first phase of construction — is set to open on Oct. 1 and the developer is accelerating plans for future phases to meet the growing demand.
“We are thrilled to continue our conversations with travelers and home buyers from around the world, as we get further along in our development cycle,” said Jim Bagley, managing director and asset manager with developerEncore Capital Management, in a prepared statement. "From second-home buyers to vacation rental owners and everyone in between, we look forward to welcoming all categories of visitors to experience the fun and escapism that will be housed at Margaritaville Resort Orlando."
Margaritaville is a massive new leisure destination that will include a beach area, lake, a water park, shops, vacation cottages and a hotel. In addition, the resort will feature a host of activities, including an arcade, paddleboarding and kayaking, a St. Somewhere Spa, a planetarium and the Son of a Sailor fishing school.
One of the upcoming phases is building 200,000 square feet of retail spacewith the first 80,000 square feet of that space handed over to tenants for build-out by second-quarter 2017. In addition, the project will begin building a new $75 million hotel later this year for a February 2018 opening.