New Owner to Kickstart Stalled Kissimmee Hotel/Condo Project
Unity Stone Group appears ready to take over a stalled hotel-condo project in Kissimmee. The Sycamore Orlando Resort property has changed hands a few times after the original developer declared bankruptcy in 2024. There are two incomplete towers on the site at 2961 Sycamore Resort Drive. Now Unity Stone Group is aiming for a fourth-quarter 2026 timeline to break ground on the restarted project.
The 378 hotel-condo vacation rental units will include a clubhouse, rooftop lounge, fitness center and meeting space on about 10 acres. The project is estimated to cost $140 million to build.
The Orlando Business Journal reports the project stalled after Primeland Real Estate Development accrued about $41.7 million in debt and filed for Chapter 11 bankruptcy protection in 2024 with the site going up for auction in April 2025. Most recently, the Unity Stone Group purchased the property in 2025 for $9.5 million,.
The development is only a few miles from Walt Disney World property and other major hotel properties.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout