Kissimmee city leaders have approved a master development agreement for a mixed-use redevelopment at Toho Square that calls for a hotel, condominiums, retail space and two public parks near the downtown SunRail station. The project is planned in two phases on the Toho Square property, which sits on Pleasant Street between Ruby and Monument avenues.
According to WESH 2, the agreement establishes development milestones, financial commitments and other responsibilities for the project, which the city entered into with the Downtown Kissimmee Community Redevelopment Agency and Skyview Kissimmee Hotel Developer LLC. The first phase includes a five-story select-service hotel with 100 to 120 rooms along with an approximately 23,000-square-foot linear park featuring trees, a walking path and site furnishings, WESH 2 reports in coverage authored by Mike Gramajo. The second phase calls for a five-story building with 18 to 20 owner-occupied condominiums, ground-floor retail space and a public pocket park, with both buildings constructed at opposite ends of the existing Toho Square parking garage.
Financing Tied to Tax Increment and a City Incentive Program
Per WESH 2's reporting, the Downtown Kissimmee Community Redevelopment Agency could provide up to $4.3 million from tax-increment revenue generated within the redevelopment area. About $1.5 million of that is earmarked for public infrastructure and site work, including park construction, utility and stormwater improvements, railroad noise mitigation and fee refunds, while the remaining $2.8 million would come through the city's Pioneer Project Incentive Program. Those incentive payments would be made in annual installments over five years after each phase receives a certificate of occupancy, and the report notes the redevelopment agency's payments are subject to annual appropriations and the agreement's other conditions.
The city will retain ownership of the Toho Square parking garage and plans to establish reserved and shared parking arrangements for the project, the station reports. Mayor Jackie Espinosa said the redevelopment supports the city's effort to attract mixed-use investment near public transit, and the report states that public space will connect the development while the planned hotel, residential units and retail space will create additional opportunities to stay, live and do business downtown. A new park is expected to provide additional public spaces for residents and visitors.
A 17-Month Path From Reworked Plans to a Signed Deal
The commission selected Skyview in July 2025, following a monthslong process that began after the city received four unsolicited proposals for downtown hotel projects — two at Toho Square and two at the Kissimmee Civic Center, according to Around Osceola. Those proposals followed a May 6, 2025 city meeting that offered no consensus among commissioners for any of the projects, except that they all needed to be reworked, as reported by the Orlando Sentinel. Commissioners had asked developers to rework and resubmit their plans within 30 days, Around Osceola notes.
Two of the four firms vying for a Toho Square partnership proposed hotels there, while the other two targeted the civic center site, the Orlando Sentinel reported. One competitor, Kissimmee Place Development Group, pitched a 160-room Hyatt Place with 15,000 square feet of flexible meeting space and an estimated $88 million budget financed through equity investments. Skyview ultimately stood out as the only bidder to include a residential component and a grocery store concept, according to growthspotter.com, which reported the commission gave Skyview its full support.
Skyview's Shifting Numbers Before the Final Vote
Skyview's plans for Toho Square moved several times on the way to Tuesday's agreement. The Orlando Sentinel reported in June 2025 that the company had swapped an extended-stay concept for a 120-room full-service hotel with a rooftop bar and wedding venue, while Around Osceola had earlier described a version with 113 extended-stay suites, a pocket park and first-floor retail. By July, growthspotter.com reported the proposal had shifted again to a 128-room boutique Sonesta MOD hotel, distinct from a 125-room Sonesta Mod select-service version the outlet had described in May alongside 20 condominiums on the opposite end of the garage. That condo component was later named the Residences at Monument, per growthspotter.com's July 2025 report, and the project's total budget was cited at approximately $30 million that same month before an August 2025 release from Experience Kissimmee put the figure at $31 million for a 128-room Sonesta hotel and residential condominiums adjacent to the Toho Square garage.
Experience Kissimmee's release also touted the Toho Square project alongside a second downtown hotel effort as the first hotels ever built in Downtown Kissimmee. The Toho Square site sits roughly two blocks from the Kissimmee SunRail station, growthspotter.com reported in May 2025, in an area that has already absorbed more than 800 apartments through the Mosaic at Lake Toho, Weston 400 and Allen apartments projects.
What Comes Next
WESH 2's report states that the Toho Square project must still undergo site review, design, permitting and property acquisition before construction can begin, and the city did not provide an expected construction start date or completion schedule in its release. With the master development agreement now approved, attention turns to how closely the final built project — room counts, condo totals and all — will match the various versions Skyview has floated over the past year and a half.
