The long-dormant Sycamore Orlando Resort, a half-built condo-hotel complex off Livingston Road in Kissimmee, is finally looking at a potential comeback under a roughly $140 million rescue plan. Construction ground to a halt after its developer fell into bankruptcy in 2024, leaving partially finished towers and a fenced-off site along a busy theme-park corridor.
According to Orlando Business Journal, the new proposal calls for about $140 million in investment that could either complete the condo-hotel as originally envisioned or reposition the property for another hospitality or multifamily use. The move is framed as an attempt to convert a long-standing construction eyesore into operating units and amenity space that can be marketed to visitors and investors.
What’s On The Site
Marketing materials describe the property at 2691 Livingston Road as a roughly 9.85-acre parcel entitled for a 378-unit, six-building condo-hotel totaling about 563,000 square feet, with a planned clubhouse and pool complex. Site work and utility runs are largely complete, with footer work underway on two buildings and partial vertical construction on others. LoopNet details those existing improvements in the offering.
Bankruptcy And Auction History
The property reverted to the borrower’s control after Primeland Real Estate Development LLC filed for Chapter 11 protection and disclosed roughly $41.7 million in liabilities, according to court records. That filing set off a court-supervised marketing push in which Fisher Auction Company and HREC Investment Advisors were enlisted to solicit bids. WFTV reported on the bankruptcy case and auction timetable.
Sale Mechanics And Next Steps
Bid instructions filed in the bankruptcy spell out a fairly tight process for would-be buyers, requiring qualification, a fully executed asset purchase agreement, and compliance with bidder-deposit rules, along with a minimum price threshold for the live auction. The materials state that any deal will need Bankruptcy Court approval and that, if approved, the real estate would transfer “free and clear” of existing liens. Fisher Auction lays out those procedures in its bidder packet.
Why It Matters For Kissimmee
If it is completed as envisioned, the project would bring hundreds of units and a sizable amenity hub online near the 192 corridor, boosting short-term rental inventory in a high-traffic tourist area while scrubbing a very visible construction scar from the landscape. The offering notes that the site is zoned Commercial Tourist and sits within a short-term rental overlay, factors that could significantly shape how a future owner chooses to operate the property. LoopNet highlights the zoning and market positioning in its listing.
There is still no public timetable for hammers to start swinging again. Any transfer and restart plan hinges on a buyer clearing the court process and locking in financing. As reported by Orlando Business Journal, developers and county officials are expected to factor in market demand and permitting requirements before any new construction phase begins.
