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Bonds are big step for Legacy Resort - August 2006 (Orlando Business Journal)
Developer Robert Miller's plans for the $3.5 billion Legacy Resort in Osceola County took a giant step forward this week with the sale of $84.8 million in bonds to finance the infrastructure for the 1,000-acre project.
The bonds were placed by the Shingle Creek Community Development District to pay for the capital improvement and were underwritten by Osceola County.
They were structured by Prager, Sealy & Co., a San Francisco, Calif.-based investment banking firm with offices in Orlando.
The mixed-use development has expansive plans that call for nearly 10,000 condo, fractional and age-restricted homes after a five-year buildout.
A hotel, retail and restaurants and an 18-hole golf course are part of the mix.
Miller is partnering with several developers to offer communities with individual designs and themes, including US Homes Corp., a subsidiary of Miami-based Lennar Corp. and Daytona Beach-based Intervest Construction Inc., doing business as ICI Homes.
Sales are expected to begin later this year.