Three of the four developers looking to partner with the city of Kissimmee on their longtime downtown hotel project submitted a new proposal last week, while the fourth resubmitted the original proposal.
The proposal was triggered by the committee, with the launch of the city meeting on May 6, without providing consensus among the commissioners on any of the projects, except that they all need to be reworked.
The two companies are offering proposals to build a hotel in Toho Square, while the other two are looking at the city’s Civic Center site.
The Kissimmee Place Development Group retained plans to build a Hyatt Place Hotel in Toho Square, but reduced it from 300 to 160 rooms with 15,000 square feet of flexible meeting space. The project still has a rooftop pool, restaurant and wedding venue that take advantage of the views of Lake Tohopekaliga. Instead of the second phase of the hotel, they proposed to build a 40,000 square feet of boutique retail at ground level. Class A office space was topped with 60,000 square feet of office space and 10,000 square feet of open office space.
Phase 2 of the project will add a 60,000 square feet of Class A office with 10,000 square feet of meeting space. On the first floor there is a 40,000 square feet of boutique retail store, including a restaurant. (Rendering by Woolpart)
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Phase 2 of the project will add a 60,000 square feet of Class A office with 10,000 square feet of meeting space. On the first floor there is a 40,000 square feet of boutique retail store, including a restaurant. (Rendering by Woolpart)
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The company estimates the project will be budgeted at $88 million and will raise funds through equity investments.
The developer is seeking a 49-year lease with an annual payment of $250,000 per year with three 10-year renewal options. They estimate that it will take two years to build the hotel.
After receiving pans at the workshop on May 6th, Skyview Companies exchanged hotel selections from extended stay assets for a 120-room, full-service hotel with rooftop bars and wedding venues on the Toho Square site.
The Skyview Companies proposal included a reference to the adjacent “Downtown Grather & Grow” project, a mixed-use tower with apartments and grocery stores. (Rendering by CBA Architects + Planners)
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The Skyview Companies proposal included a reference to the adjacent “Downtown Grather & Grow” project, a mixed-use tower with apartments and grocery stores. (Rendering by CBA Architects + Planners)
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Skyview will develop a 20-unit condominium townhouse community called Residences, located on a monument on the east side of the car park overlooking Pocket Park. “The proposal represents more than just a new home. It is a step towards a more accessible, walkable, and community-oriented future for Kissimmee residents,” they write.
The total budget is approximately $30 million. Skyview is seeking a $3 million “Pioneer Grant” from the city for hotels and condominiums, seeking first-year impact fees and a 50% tax cut.
The project will complement Ruby Avenue’s development & Grow Development, which includes a congregation in the adjacent downtown Skyview, a full-service grocery store with food courts and 231-unit apartment towers.
Azure Hotel International has provided two options for redeveloping the Kissimmee Civic Center site. Instead of a single mixed-use tower with 300 luxury hotels, parking garages and convention centres, we chose to split the use into separate buildings. They offered options for 200-room hotels with eight stories or 250-room hotels with nine stories under the preferred hotel and resort portfolio. Each offers flexible meeting spaces, retail, rooftop bars and restaurants, a pool and spa and Cadillac Esplanade shuttles to Kissimmee and Orlando airports.
If the city chooses a small hotel, Azure will build a 25,000-square-foot convention center. It is owned by the city and has been run by Azure for 30 years. If the city chooses a larger hotel, Azure will increase its convention center to 35,000 square feet. According to the document, regardless of choice, both projects cost around $150 million.
Azure is seeking a $1.5 million Pioneer grant in addition to the $10 million grant the city has allocated to the new convention center.
IHRMC Hotel & Resort, which proposed a 120-room, full-service Hilton Garden Inn, rejected a request to resubmit the proposal in its 200 rooms, combined with a $10 million renovation of the existing Kissimmee Civic Center, despite being supported by recent HVS market research.
The city committee does not plan to reconsider the updated proposal.
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