North Miami-based MIR Development wants to add to a growing list of new hotels popping up in Kissimmee’s W192 corridor, near the Disney theme park and attractions.
According to a South Florida Water Management District filing, the company is seeking environmental permits that will grant the developer rights to build up a 160-unit all-suite hotel, along with an associated surface parking lot, utilities, sidewalk and two dry retention ponds.
MIR Development executive Mark Rousso told GrowthSpotter this is the company’s first project in the Four Corners area. Though the company has residential projects underway in Orange County, its planned Grand Royal Hotel in Kissimmee will be its first hospitality development in Central Florida.
“We’ve never done it in Orlando, but it’s a good opportunity to start with, Rousso said. “We think this area is being fully redeveloped, and it’s very close to several tourist attractions including Animal Kingdom, which is a big draw for purposes of this type of product.”
Records show MIR Development’s Grand Royal Orlando LLC bought the 3.9-acre property, located on the northwest corner of Funie Steed Road and Entry Point Boulevard, last year for $1.62 million. The developer submitted a Site Development Plan to Osceola County earlier this month.
Rousso said he’s still exploring his options for the brand of the hotel and has not yet signed on any hotel flags. He adds he’s hoping to find more opportunities to build in the area.
MIR Developments was founded by Ruben Kaufman, Isaac Peckel and Rousso. The three developers have experience in building projects in South Florida and South America. More recently, the real estate firm has expanded and focused on projects in Central Florida.
Rousso said MIR Development is close to scoring vertical permits to build a roughly 960-unit multifamily development on the former 18-hole Eaglewood Golf Club, located on the northwest corner of W. Oak Ridge Road and S. John Young Parkway.
The developer is in the middle of building its Sandlake Station project, which calls for 196 condos and 38 townhomes. The 18-acre site sits within walking distance of the Sand Lake Road SunRail station. Rousso said the first condo buildings should be complete by the end of this year.
In 2018, MIR Development completed a 120-unit condominium complex at 2121 McCoy Rd., called Royal Palace.
Its Grand Royal Hotel project is located in the vicinity of other projects underway.
Just north of the site, developer Sternon Group is planning to build a 208-unit luxury condominium community called Fortune Star. Last month, GrowthSpotter reported the company won the county’s W192 Development Authority’s first-ever Catalyst Site Incentive Grant, which will provide up to $1.125 million toward helping fund the project overlooking Lake Wilson.
Units at Fortune Star will be used for long-term residential use. Future occupants require a minimum seven-month term. Construction is anticipated to begin in February 2022.
The W192DA created the catalyst grant program this year with a $2.5 million budget to help lure in high-quality, private investment in the tourism corridor.
Amenities include a rooftop lounge, state-of-the-art fitness center, theater room, kids’ lounge and two restaurants specializing in international cuisine. The developer, Rosemont Hotels, broke ground in late 2019.