Kissimmee extends hot streak as developers compete for dormant Kmart site
Downtown Kissimmee’s commercial real estate market is on fire. The city received three proposals from developers eager to transform a blighted Kmart and Big Lots site on W. Vine Street into a vibrant, urban neighborhood.
The three developers — Skyview Companies, Wendover Housing Partners and Capstrata/Hedrick Brothers — all proposed a mixed-use district on the 22-acre site with commercial uses fronting on Vine and a large pond on the north end of the site. The similarities end there. The two groups that shared their master plans with GrowthSpotter offered divergent views on how much density is feasible in today’s market, though all are high on the opportunity.
The Kmart redevelopment is just the latest in a series of promising efforts by city leaders to draw private investment in downtown Kissimmee. Most prominent has been the hot competition to bring a hotel to the urban center, which led the city to choose two developers building separate projects after years of market indifference.
