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Robert Miller Begins Construction on $3.5 Billion Legacy Resort
Robert Miller has announced that construction has begun on the $3.5 billion Legacy Resort along Osceola Parkway near Shingle Creek. The Southeast Florida developer broke ground on the site in December to create a community of upscale hotels, vacation properties, retail and recreation. The development property is located off State Road 535 and Osceola Parkway near the Walt Disney World Resort.
Robert Miller, the CEO, has partnered with U.S. Homes and ICI Homes to build more than 2,000 units. Miller noted that the resort is expected to attract European, South American and domestic tourist families, generating $66.2 million annually in local taxes without adversely impacting the school system. An additional 6,000 unit entitlement is available on contiguous sites.
This new development includes plans to leave 320 acres intact as wetlands as well as a focus on emphasizing ecotourism with hiking trails, canoeing and an 18-hole golf course. Addition land has been leased such that Florida panthers, snakes, alligators and other native species can be featured in an educational facility developed by Safari Todd's Wildlife Productions.
Home builder and luxury community developer, ICI Homes, has begun development on 870 town homes and condominiums. This Daytona Beach-based company is ranked as one of the largest privately held home-building companies in the U.S. The company plans to build two-, three- and four-bedroom luxury condominiums that range in size from 1,000 to 2,000 square feet of living space.
These plans include the construction of three-bedroom, two-bath town homes with "granny suites" with 2,300 square feet of living space. Prices are projected from $50,000 for fractional ownership and from $700,000 for whole ownership. Construction of town homes is slated for spring, while condominiums will start by the end of 2008.
Miller also has plans for a 50,000-square-foot entertainment center on land north of the Osceola Parkway and east of State Road 535.
Legacy Resort is projected to have a significant impact on Osceola County. Commission Chairman for the county, Paul Owen, has acknowledged that the five-year project will contribute to the county's ad valorem tax base, keep residents' taxes lower and create a large number of jobs both during the construction and operating phases.