The Brazilian investment company now building a $25 million townhouse resort in Kissimmee has purchased a neighboring parcel to expand the project.
Lancelot America announced plans last spring for the 99-unit Summerville Resort on Old Lake Wilson Road, just off U.S. 192. The developer paid $1.25 million for the original 18-acre parcel, which is south of the new Walmart Supercenter.
The company paid $1.6 million in late December for a 4.65-acre tract immediately north of the project, and company officials confirmed they are planning a second phase.
Units at Summerville Resort are priced starting at $269,000 for a 3-bedroom unit, with owners given the option to choose their own property manager for short-term rental or hire the resort's management firm. Orlando-based American Horizons Realty is the sales partner, and is marketing the units primarily to Brazilian investors.
General Contractor Jordan Construction & Development broke ground about two months ago on the first phase and is currently building a sales office onsite. Giovanni Jordan said vertical construction should begin this month.
Lancelot's second development, Cypress Sound Resort in Orange County, is planned on a 15-acre site that fronts Winter Garden Vineland Road near Walt Disney World's Epcot and Magic Kingdom, adjacent to Grand Cypress Golf Resort and east of Disney's new high-end Golden Oak development. The budget for that project is $30 million.