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Tuesday, August 13, 2019

Major housing and retail development in the works around Kissimmee's SunRail station

Posted By on Tue, Aug 13, 2019 at 8:41 AM

click to enlarge PHOTO VIA SUNRAIL/FACEBOOK
  • Photo via SunRail/Facebook
Hundreds of new homes are expected to pop up around a SunRail station in Kissimmee soon.

Developers announced Monday a "transit-oriented" development is in the works for the land adjacent to the Tupperware SunRail Station at 3205 Orange Ave.



O'Connor Capital Partners and Tupperware Brands Corporation are teaming up to construct 1,700 housing units in the form of apartment complexes and 180,000 square feet of retail space, according to a press release. The development will also include a 120-room hotel and 60,000 square feet of office space.

John O'Connor, a senior vice president of acquisition at O'Connor Capital Partners, said the development will be carried out in phases. The first phase, covering the apartment complexes and retail space, should be completed by the end of 2021.

Peter Bergner, a West Palm Beach businessman with O'Connor Capital Partners, pointed out potential economic benefits with the project.

"With the new SunRail, it's made this market expand enormously," Bergner said. "It’ll open up the opportunity for a lot of office users and industrial users to use the south end of the Orlando market."

It's the latest installation for an area becoming a hub of activity. Tupperware Brands World Headquarters is already at the site of the station, Orlando Health's medical facilities are within walking distance, and the station is about a mile from Gatorland.

SunRail hikes up property values in residential areas, according to transit officials. The transit service has "contributed to as much as $1.19 billion in property value growth," according to estimations in a 2018 study commissioned by the Florida Department of Transportation.

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