Developer Acquires Abandoned Orlando Sun Resort in Kissimmee for $70 Million

A Major Investment Signals Potential Revitalization for the Former Orlando Sun Resort Property

Overview

A real estate developer has acquired the long-abandoned Orlando Sun Resort in Kissimmee, Florida, for a purchase price of $70 million. This significant transaction marks a potential turning point for the property, which has been vacant for years and has been the subject of much speculation regarding its future.

Background on the Orlando Sun Resort

The Orlando Sun Resort, located in the heart of Kissimmee near the bustling Orlando tourist corridor, was once a popular destination for visitors to Central Florida. However, due to a combination of financial difficulties and changing market dynamics, the resort ceased operations and has remained shuttered and neglected for an extended period.

Details of the Acquisition

The purchase was finalized at a price of $70 million, reflecting both the size and the strategic location of the property.

Potential Impact on the Community

The acquisition of the abandoned resort has generated optimism among local stakeholders. Revitalizing the property could bring new economic opportunities, create jobs, and contribute to the overall growth and appeal of the Kissimmee area. A one-billion-dollar resort.

Next Steps

The area will be transformed into what is being called Ovation. Accesso, a South Florida real estate business, and Meyers Group, a commercial developer, will create a shopping and dining complex less than a mile to Disney World. Demolition is expected to start soon. Ovation will have about 670,000 Sq Ft with local and national restaurants and shops in the entertainment complex in 5 zones much like Disney Springs. There will also be upscale premier hotels offering over 700 rooms.

Conclusion

The $70 million purchase of the abandoned Orlando Sun Resort in Kissimmee represents a major step toward revitalizing a once-prominent property. No construction schedule is currently available, but we will keep you updated as we get more information in the months ahead.

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