Margaritaville Resort has released pricing details for its first round of pre-sales, and plans to open an onsite sales office on Kissimmee's W192 tourist corridor by Memorial Day.
Marketing and Sales Director David Hurst said the developer, Encore Funds, is finalizing the architectural plans for the 200-room hotel, which is now slated to open in 2018.
"We are anticipating construction to begin on the water park and retail components this summer followed by the hotel late this year," he said via e-mail. "This will put us in position to open the resort with all elements completed in 2018."
The final site plan is expected to receive staff approval from Osceola County's Development Review Committee next week. It discloses Encore's development numbers and phasing schedule.
Grading and site preparation work is already underway on the 321-acre Jimmy Buffett-themed resort. In addition to the public water park, parking areas and hotel, Encore also expects to start construction on the 200,000-square-foot retail and dining complex in its first phase.
The rest of the development program includes up to 340 apartments in phase two, and 60 condos and 198 timeshare units in phase three. The site plan also includes 224 resort cottages ranging from 1,600-4,200 square feet.
"It looks like we will land on 1- to 8-bedroom Key West style cottages ranging in price from $275,000-$699,000," Hurst said. He expects to start taking reservations for the first 60 cottages in June.
The fifth development phase includes 213 single-family home lots along the southeast quadrant of the resort, with access from Formosa Gardens Boulevard.
India Asunto with Encore Resort Homes said Monday that while the project is divided into phases, construction will occur currently on multiple phases. Encore and its architecture team are putting the final touches on renderings for the cottages and the retail center.
Engineer Dave Schmitt also details proposed transportation improvements on the new site plan, including plans to widen the bike path on Hwy. 192 to 10 feet, and rehabilitate the closest Lynx bus shelters.
The resort could include its own park-and-ride lot for Lynx riders and transfer station for a future Bus Rapid Transit (BRT) system. Developers can gain parking credits in exchange for building transit amenities.
"I really like this option because we need parking and don't want to build a vertical parking structure," Schmitt said.
The resort also will feature a network of internal bike paths and a bike transit center. "One of our biggest requests is to provide bikes for our renters," he added.