There’s about to be a place in Margaritaville Resort for people who just want a taste of the cheeseburger in paradise, and for those who want a bird’s eye view.
As master developer Encore Funds of Boca Raton races through the lot inventory for its Key West-style vacation cottages, the company filed construction plans this week for 300 timeshare units at the Kissimmee resort. The firm also has signed Old Town Slingshot and Vomotron as tenant for Sunset Walk at Margaritaville.
The company has filed a Site Development Plan for the two rides on a retail pad at the back of the shopping center, near the Studio Movie Grill. The Slingshot is a launch ride that propels passengers are propelled nearly 500 feet in the air at speeds in the region of 100 miles per hour. The Vomatron can best be described as a giant propeller with seats on each end. This is similar to the centrifuge used by astronauts to simulate rocket acceleration except mounted vertically, according to the company’s website.
The thrill rides enhance the entertainment options at the center, which already includes the movie theater, GameTime arcade and LaFayette’s Supper Club. The plaza features a central lawn that also includes live entertainment, as well. Osceola County is still reviewing the SDP.
The timeshares will be built in the 15-acre peninsula just southwest of Margaritaville Resort Orlando hotel. The community will consist of 10 residential buildings, each with 30 units, plus its own pool and clubhouse and a sales office, according to the plans filed with South Florida Water Management by Dave Schmitt Engineering.
“Timeshares have always been contemplated for the resort,” Encore’s Peter Brown told GrowthSpotter. Brown heads the firm’s Operations and Asset Management in Central Florida. He said Encore is updating the Site Development Plan for Phase 3C, but the company hasn’t begun marketing the timeshare units, and it doesn’t have a construction date, and it still hasn’t even hired an architect.
“Everything is going according to plan,” Brown said. “It takes so long to get these SDPs approved and get on the Planning Commission agenda, and then we have to replat, so we’re just trying to stay ahead of the game.”
Brown estimated that the majority of timeshares will be two-bedroom units, with a few one-bed and three-bed units mixed in. “It’s fairly standard to what you see in this market,” he said.
The developer is currently midway thru its third pod of vacation cottages, which includes 218 lots and is considered Phase 6 of the master plan. Encore has an approved SDP and is seeking final Subdivision Plan approval for Phase 7, which will add another 164 cottages. The company also has filed a Preliminary Subdivision Plan for Phase 8, composed of 139 lots, which will allow the developer to keep a steady inventory of lots and maintain its current pace of construction.
“We have about 60 homes under construction in Phase 6 now,” Brown said.
Other completed phases has included the hotel, water park and Niido apartments. Phase 9, just south of the timeshare section, will be the final vacation cottage section and will complete the buildout of the community. It’s still labeled as “Future Development” on the master plan.