Kissimmee’s Medical Arts District is starting to take shape with a trio of new developments in the works near the fast-growing Osceola Regional Medical Center.
MedFlorida Medical Centers has filed plans for a mixed-use medical office complex at 811 N. Central Ave., across from the HCA-affiliated hospital. Physician Mazin Shikara, president and CEO of Medical Consultants of Florida, purchased the 2.85-acre assemblage in 2021 through an affiliate for $2.8 million and submitted the plans in December.
The project consists of two 5-story buildings. The first would have 9,950 square feet of medical offices on the ground floor with 54 senior living units on the four upper floors. The second L-shaped building would have 12,450 square feet of office and retail space, along with 56 senior living units on the upper floors.
The project would be eligible for special incentives, such as reimbursements for building permits and development review and medical equipment grants up to $25,000.
Just west of the hospital, Prospect Real Estate Group is under contract for 11 acres that had previously sold to Boston-based Saxon Partners for a medical and wellness-themed multifamily community. Saxon paid $3.1 million for the two parcels at the corner of Martin Luther King Jr. Boulevard and Rose Avenue and received preliminary approval for a community consisting of 357 studio and 1-bedroom apartments across two buildings with structured parking.
Gary Warfel, who leads the company’s multifamily division, told GrowthSpotter they backed out of the project after Osceola County decided not to lower school impact fees for studio apartments. Now Saxon Partners has shifted its sights to Polk County, where it now plans a medical office building and residential community next to AdventHealth Heart of Florida Hospital in Haines City.
Prospect is planning to increase the unit count to 380.
“We’re redesigning the site plan to a much more efficient product,” Managing Partner Navish Chawla said. “And we want a specific unit mix because we think given the employment drivers there with the hospital, nurses and doctors, you’re going to want a market-rate product that has less studios — more ones and twos. So we’re focused on that, recognizing that the impact fees are massive.”
The New Smyrna Beach company has 26 active projects now across its construction and development divisions, including its newest Advantis-branded apartment complex set to rise in Palm Bay and phase two of Deseo Grande in Orlando, a joint venture with American Landmark Apartments.
The $200 million plan breaks the project up into three phases, with development beginning at the southern portion of the site in May. Skyview has proposed a 4-story “double-donut” style apartment building with ten two-story carriage-style units, each with its own tuck-under garage. The estimated budget for Phase 1 is $60 million.
“This is going to be a Class-A property with full amenities,” consultant Mario Farias said. “They wanted an urban-style development, and that’s what we gave them.” He noted that the first phase of the project is surface-parked, but Phases 2 and 3 would utilize structured parking.