Orlando-based developer Park Square Homes expects to generate more than $150 million in sales revenue from the 321 homes in its luxury community Sonoma Resort now under construction, the company's president told GrowthSpotter.
Located at 2468 W. Carroll St., a few blocks south of Dyer Boulevard in Kissimmee, Park Square has construction under way on a multi-million dollar clubhouse and a growing number of homes in the development's 121-unit first phase.
Park Square is acting as the project's developer, architect and general contractor. Iowa-based BSB Design served as architect for the community clubhouse.
A second phase of 200 homes should follow next year. The short-term rental community features 50-foot and 70-foot lot sizes, with homes ranging from 2,000 square feet to 4,000 square feet and anywhere from four to nine bedrooms.
Models with five or more bedrooms have dominated the 25 units sold thus far, and the development's first three homes expected to be ready for move-in by late July, said President Steve Parker.
Sonoma's six home models range in price from $365,000 to $500,000, before upgraded amenities are considered.
Home sales will have to average more than $467,000 each for the project to reach Parker's $150 million sales projection. But with the five-bedroom models beginning at $430,000, amenity upgrades in the kitchen and pool areas may push that final price above the target average.
Park Square has built nine short-term rental resort communities and 13 long-term residential developments in Central Florida.