KISSIMMEE, FLA. — Prospect Real Estate Group II LLC and American Landmark Communities plan to develop a 355-unit apartment community in Kissimmee, a suburb of Orlando. Prospect recently purchased the 10.7-acre development site, located at North Rose Avenue and Martin Luther King Jr. Boulevard, for $10.4 million. David Calcanis of Colliers represented the seller, Boston-based Saxon Partners LLC, in the land transaction. Moushimi Chinni Ganguli of CityLights RE represented the buyer.
Scott+Cormia and WGI designed the four-story, Advantis-branded apartment community to feature 16 live-work units atop nearly 900 square feet of commercial space that is ideally suited for medical office space due to its proximity to two prominent hospitals, Osceola Medical Center and AdventHealth Kissimmee. Most apartments will come in studio, one-, two- or three-bedroom layouts. Prospect and American Landmark expect to break ground on the project in the second quarter and to complete construction in second-quarter 2025.