Vacation home developer Encore Funds announced plans in the summer of 2015 for a 321-acre Jimmy Buffett-themed resort.
The $750 million Margaritaville Resort is currently under construction on more than 300 acres southeast of the SR 429-W U.S. 192 intersection, land that includes the site of the long-shuttered "Spendid China" attraction.
The resort will include a 200-room Margaritaville hotel (to be the company's fifth), 1,500 condos, timeshares and vacation rental homes with Key West-inspired design. The entire project is anchored by a 43-acre man-made lake and 3-acre swimming lagoon with a water park with its own public beach. The development plans also include a "FinCity" arcade, a St. Somewhere Spa, a planetarium, a Son of a Sailor fishing school, paddle boarding and kayaking.
Encore Managing Director Jim Bagley told GrowthSpotter the company is building 200,000 square feet of retail and dining at the resort, as well as a 324-unit apartment complex.
Margaritaville Resort alone is projected to create 700 full-time jobs, he said.
LOCATION: in Kissimmee on U.S. 192 just east of the S.R. 429 interchange
OWNER: Encore Capital Management
START DATE: started in January 2016
END DATE: opening scheduled for early 2018
PROJECT BUDGET: $750 million