Encore Capital Management has released details and pricing information for SPECTRUM+, its new 296-unit resort condo community at Reunion Resort.
Encore, the master developer of Reunion, has increased the unit count from the original 288, first reported by GrowthSpotter in late 2017. The Boca Raton-developer also named South Florida's OneWorld Properties as the exclusive broker for the complex. The firm, which has offices in Fort Lauderdale and Miami, also the exclusive listing for Encore's Paramount condo towers in both of those cities.
"I have worked with Encore for the last five years and sold for them over $700 million of inventory," OneWorld CEO Peggy Olin Fucci told GrowthSpotter.
Fucci said she has been involved in the SPECTRUM+ from its conceptual stages, and the product was specifically designed to appeal to international buyers. She said the Orlando buyer profile is similar to South Florida buyers, and the team is focusing on Brazilian, Canadian and Chinese investors.
"We've always specialized in the international market and very large transactions," she said. "Orlando is a natural fit. We're already active in South America and Europe, and this year we opened an office in Shanghai. The Chinese love Orlando."
The firm has begun a whisper campaign and an on-site sales center to gear up for the sales launch. Condo units will start at $350,000 for a three-bedroom unit; $470,000 for a four-bedroom unit and $483,000 for a five-bedroom unit. The furniture packages, offered in two color palettes, will be sold separately.
"We want every unit to be consistent to make sure everyone has the same level of contemporary appeal," Fucci said.
Each vacation residence will include 9-foot volume ceilings to give an open feel, granite tile in living areas and designer carpeting in all bedrooms to maximize comfort. Maple kitchen cabinetry will be complimented by quartz kitchen countertops, stainless steel appliances and a waterfall island. Oversized master bathrooms and showers with built in "rain showers" will also be included in each residence.
Luxury Reunion Rentals (LRR) will manage the vacation rentals, in concert with Salamander Resorts, owner-operator of the Reunion Grande. Bellavista Building Group is the general contractor and has applied for the first building permits.
Site construction is already underway. "By April, we should have our models open," Fucci said. "Our goal is to have our first closing by July."