Time will run out soon to buy one of the last vacation cottages in Margaritaville Resort Orlando.
That’s because the resort developer, Encore Funds, has switched up its plans for next phase and will now be building resort townhomes.
The developer is currently two-thirds of the way thru its third pod of vacation cottages, which includes 218 lots and is considered Phase 6 of the master plan.
“We’ve got about 70 cottages left,” Peter Brown, Central Florida asset manager for Encore, told GrowthSpotter.
He said Encore had been debating whether to continue the cottages in Phase 7 — it was already approved for 164 lots with private backyard pools — but ultimately opted to redesign the section.
“We’ve had a good response with the townhomes in Eagle Trace at Reunion, so we decided to do something similar at Margaritaville,” he said. The latest redesign accelerates Encore’s to diversify the resort’s product offering and accommodate the same number of guests with smaller, more affordable units.
The new Preliminary Subdivision Plan that goes to Osceola County DRC on Wednesday shows 212 recreation townhomes and four separate swimming pools dispersed throughout the community. Guests also will have access to the resort amenities next to the Margaritaville Hotel.
“The pools will be similar to a pool you’d have in residential area, but they won’t have food and beverage like we have at the club,” Brown said. “We were just thinking they’re a little bit further from the club, so this gives them a second option.”
Brown said the 2-story townhomes would have either three or four bedrooms, with pricing starting in the low-to-mid $300s. Buyers who want to enter the resort’s vacation rental program will be offered one of the approved furniture packages.
Madden, Moorhead & Stokes is the civil engineer for the PSP. AB Design Group is the project architect for the townhomes.
Brown said Encore plans to start construction as soon as the permits are approved for the townhomes and the 352-unit apartment complex slated for Phase 8. ARC3, which designed the Domain Apartments at Margaritaville, is the architect for the multifamily community. The site plan calls for a mix of 3- and 4-story buildings with a community clubhouse and private pool.
The PSP also provides more detailed layouts of the 300 timeshare units in Phase 9 and resort hotel expansion in Phase 10. The goal is to start construction on all four phases by next year.
“They’re all moving ahead fairly quickly,” Brown said. “We’re pressing ahead on all them. We’ve got different architects for each section.”
Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407) 420-6261, or tweet me at @byLauraKinsler. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.
