Orlando-based Primeland Development is on track to break ground later this year on the $90 million Sycamore Resort on Kissimmee’s Livingston Road.
The luxury condo resort will rise on a 10-acre site, which is just southwest of Westgate Vacation Villas and about a mile from Margaritaville Resort. The project will comprise 378 units across six 7-story residential buildings, a separate 25,000-square-foot amenity center called The Sycamore Club. Primeland filed a Site Development Plan with Osceola County on Thursday.
“Now we are ready,” Primeland President Karen Costa told GrowthSpotter. “We have everything we need. Before we were still in the feasibility study stage.”
GrowthSpotter first reported on the project in 2019, and in the ensuing months the developer and Jordan Engineering have redesigned it to capitalize on the elevation changes on the property and the higher density allowed under the Commercial Tourist zoning. Even though the project abuts residential neighborhood, it has no height limit, so the developers added a seventh floor.
“The two buildings in the back had an elevation change of 13 feet, so now we have a waterfall in the pool,” Costa said.
Primeland has named Winter Park Construction as general contractor and Bumpus & Associates as project architect. The buildings will be designed to achieve National Green Building Standard certification.
The private clubhouse features a rooftop lounge, a sports bar, a bakery and three restaurants offering American, Asian and vegan cuisine. It also has a fitness club, a spa, a kids club and a conference center that will offer programmed activities, entertainment and meeting space.
“The club is just for guests. We don’t have enough parking to open it up to the public,” Costa said. “We think we’ll be fine. We’ll have the potential for 2,000 guests per day.”
The dining spaces will be NNN leased to independent operators, and the vacation condos will be managed by on onsite-property manager that also will handle bookings.
Primeland opened a sales center and model home on Parkway Boulevard, across from Celebration. Costa said the Brazilian-American firm has presold 56 units, including all of the one-bedroom units in the first building. Each condo unit will come equipped with a furniture package, in-unit laundry and an owner’s closet. Prices start at about $195,000 for a one-bedroom unit, plus $20,000 for the furniture package.
“We are giving to all clients 10-percent leaseback as guarantee for first two years,” Costa said. The developer is also paying 10-percent commission to realtors.
The porcelain wood-look tile flooring allows Primeland to offer pet-friendly accommodations for guests and owners. The developer is even adding a Pet Hotel on site so guests can spend all day at the theme parks without worrying about their dogs.
“We’re creating a place that’s not only good for the owners and their dogs but also reduces the risk of damage to the furniture,” Costa said.
The plan is to develop the entire site in one phase and complete the condominium interior buildout over three phases.
Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407) 420-6261, or tweet me at @LKinslerOGrowth. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.