A few days ago I described the new Legoland and Sapphire Falls developments coming up in the Orlando area. Now here’s an even bigger plan:
$1.4 billion timeshare and retail complex
Orlando-based Magic Development is planning a 2,000 unit timeshare and retail complex on U.S. Highway 192, west of State Road 535. Construction will begin in September and includes five buildings between 35-40 stories on 87 acres of land.
Projects by Magic Development in Orlando include the completed Magic Village Resort I and II, Magic Place (future) and Magic Island (future).
This 2,000 unit timeshare looks like their first timeshare venture. It will be located on U.S. Highway 192 in the western tourist corridor and should revitalize the Osceola area along Hwy 192.
$1.4 billion is no small amount of money. Having that sum of cash invested in facilities in Osceola County will make a tremendous impact on the local economy. Not to say what it indicates about the “experts” view of the local economy.
There must be a compelling amount of evidence that buyer confidence is growing, tourists are spending more freely, and there are more of them.
This kind of spending on “timeshare resort and retail” would have been unthinkable in 2007. At that time no one was building, everyone was suspending construction and purchase of new resort facilities, and the mood was in the dumpster.
Now it seems that everyone wants to build something new in the Orlando area. That speaks volumes about the investors’ confidence that things have turned around. Tourism numbers have rebounded, their spending is up, and the lenders are getting much more action.
And as a matter of fact, Visit Orlando data showed the region experienced record hotel room demand, daily room rates and tourist development tax earnings last year.
“That’s thanks to a rapid growth in new offerings in tourism — such as Universal Orlando Resort’s Harry Potter attractions or Walt Disney World’s Fantasyland additions— and the emergence of Brazil as a primary travel market for Central Florida.” (Bizjournals.com)
Now is a “ripe moment” for selling your timeshare. All the indications are that people are buying in record numbers, the resort developers are spending money as fast as they can to build more timeshare units to sell, and there are plenty of buyers for everyone.
With Magic Development spending $1.4 billion, your confidence couldn’t get boosted higher when it comes to selling your timeshare.