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Osceola County Developments

DLP Capital secures $39.8M construction loan for new apartments at former Snow White Village

The owner is building a 304-unit multifamily community with four 4-story apartment buildings, each with 72 units, and a clubhouse.

Pennsylvania-based DLP Capital received a big financial boost this week to complete the construction of its first Class A multifamily property on the site of the former Snow White Village in Kissimmee.

Jim Boyce, managing director and head of development for DLP, told GrowthSpotter the firm broke ground in 2021 and was just past the halfway point when the $39.8 million construction loan from Ocean Bank came through.

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DLP purchased the 13-acre parcel in 2019 for $6.4 million. At the time, it has pre-approved construction plans for a 304-unit apartment complex. It’s located on Seven Dwarfs Lane, near the W192 intersection with Vineland Road/S.R. 535, and abuts Lennar’s Shingle Creek resort community.

“We using the approved plans,” Boyce said. “The project’s about 55% complete, and we’re hoping to be 100% complete by February. It’s called Dream Kissimmee.”

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The Dream Kissimmee apartments are on Seven Dwarfs Lane, next to Sam's Club and just south of Shingle Creek Resort by Lennar.

The community consists of four apartment buildings, each four stories with 72 units, multiple detached garages and storage units and a separate clubhouse. The buildings will have interior corridors and garbage chutes on each floor.

DLP communications specialist Jenn LoConte said the community would be highly amenitized, with a resort-style pool, 24-hour fitness center, outdoor kitchen, game room and home theater.

The former Snow White Village trailer park was originally developed in the early 1980s as affordable housing for Epcot workers. It was sold to a Canadian developer in 2015 who secured the development permits and later sold it, with the entitlements, to DLP.

Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407) 420-6261, or tweet me at @byLauraKinsler. Follow GrowthSpotter on FacebookTwitter and LinkedIn.


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