It looks like more apartment units are in the works near Walt Disney World, west of Reedy Creek Boulevard and northeast of Irlo Bronson Memorial Highway in Kissimmee. This location is close to Disney’s Animal Kingdom and Disney’s All-Star Resort. While details are still very vague, check out what we know so far below.
As shared by BizJournals: More apartment units are in the works near Walt Disney World. Property owners AD1 Kissimmee Hotels LLC and AD1 Kissimmee 2 LLC — entities related to Hollywood-based developer AD1 Global — seek Osceola County zoning approvals to build an unknown number of apartments west of Reedy Creek Boulevard and northeast of Irlo Bronson Memorial Highway in Kissimmee, according to Osceola County records.
Three properties totaling 22.2 acres are part of the proposed development site. They’re valued at $11.1 million, according to Osceola County records. One parcel contains a 277,772-square-foot hotel built in 1984, according to real estate research firm Reonomy.
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There’s a big demand for residential projects in Osceola County, previously said Luke Wickham, senior managing director in the Orlando office of Institutional Property Advisors, who isn’t involved in the projects. That’s despite Osceola County having the highest unemployment rate in the state of Florida at 20.2% in July, as Covid-19 has decimated the area’s tourism industry. “Even though rents are flat right now, there are still not enough apartments,” Wickham said.
We’ll keep an eye on this one. Can you imagine being so close to the magic?!