Kimaya, the commercial division of Park Square Homes, filed plans earlier this year to deliver a timeshare project next to its Paradiso Grande vacation rental community near SeaWorld. Now, the developer is eyeing another nearby parcel for more vacation rentals.
Poulos & Bennett, on behalf of Kimaya, filed an application with Orange County requesting approval to convert entitlements for 267 multifamily units to 240 multifamily short-term vacation rental units on roughly 3 acres at 11304 International Dr.
The property’s previous owner, an entity led by Miami-based physician Rodolfo Dumenigo, requested approval from the county in 2023 to scrap entitlements for 27,772 square feet of tourist commercial space, 38 attached short-term rental units, and 47 hotel rooms in favor of the multifamily residences.
However, Kimaya purchased the parcel last year for $4 million and clearly has other plans, as the developer is looking to capitalize on the site’s proximity to Orlando’s theme parks by developing a cluster of residences built for tourists. Kimaya and Park Square Homes plan to build a total of about 900 vacation units and homes in the immediate area across three projects.
Homes at Paradiso Grande include rooms that pay homage to Orlando’s theme parks. Pictured above is a kids’ room with a SeaWorld-inspired design. (Photo provided by Park Square Homes)
Park Square Homes’ 385-lot Paradiso Grande vacation rental resort, which is under construction and partially built, will have a mixture of townhomes and single-family residences. Homes will range in size from 2,278 to 6,374 square feet, will have between 5 and 15 bedrooms, and are currently selling for between $850,000 and $2.75 million.
The resort’s Aquarius Club features a gym and a heated pool with water slides, a lazy river, a splash zone, and cabanas. Paradiso Grande also features basketball, tennis, and sand volleyball courts, a business center, and a gated entrance.
“We believe that Park Square will complete the remaining residences at Paradiso Grande by early 2027,” Vishaal Gupta, Co-CEO at Park Square Homes, told GrowthSpotter.
Park Square Homes expects to complete the remaining residences at Paradiso Grande by early 2027. (Photo provided by Park Square Homes)
Kimaya also filed plans with the county for a timeshare tower south of Paradiso Grande on a 7.8-acre parcel west of Parc Corniche Drive that it acquired in 2023 for $3.6 million. An application from February revealed plans for 245 timeshare units and 15,000 square feet of tourist commercial space.
However, a separate filing from May, which is now approved, increased the number of timeshares to 274 and reduced the tourist commercial space from 15,000 to 8,255 square feet.
The Kimaya website indicates that the timeshare tower would rise 16 stories and would go by the name “Skyline”. However, Gupta said that the company is still finalizing plans for that site.
“We haven’t decided on whether timeshares will be a part of the project, and we do not have an estimated date to break ground yet,” he said.
Kimaya recently filed plans for short-term multifamily vacation rentals next to Paradiso Grande on I-Drive. The site, marked by a red star, is near where Kimaya has approved plans for a timeshare tower on nearly eight acres, marked by an orange star. (Orange County Property Appraiser)
P.A.C. Land Development is also wrapping up construction on a five-story, 225-unit apartment building next to Paradiso Grande on the southwestern corner of Paradiso Grande Boulevard and International Drive. Plans filed with the county called for a rooftop amenity deck with a pool, a gym, a yoga lawn, lounge space, and an outdoor games area, along with additional amenity space with a dog park, a putting green, and grilling stations.
Have a tip about Central Florida development? Contact me at (407)607-8160 or TyWilliams@GrowthSpotter.com. Follow GrowthSpotter on Facebook and LinkedIn.