The Canadian residential developer paid US$16 million in September for two parcels that will make up the next major phase of the development. Island Village is Celebration's southernmost parcel. The property has rights to build more than 1,000 single-family homes, 300 apartments, 30,000 square feet of commercial space, an elementary school and five acres for parks or civic uses.
The developer paid US$15 million in 2017 for the first stage of the fifth and final residential villa planned for Celebration.
The developer will offer a completely new product portfolio, designed especially for Island Village. The first Island would have 87 townhomes and 192 single-family homes on four plot sizes: 70-foot, 55-foot and 40-foot lots (each with four homes). Everything would be developed in two sub-phases, according to the plan. The apartments and all the townhomes would be built in Phase 1A, while most of the property on the larger lots would be in Phase 1B.
The first island also includes the new K-5 school, which will open in 2021, and an apartment complex by Dallas-based Streetlights Residential, which held a pre-meeting with the Osceola County Development Review Committee on September 19.
Edward Wood, from Streetlight, said that the community would be a timber-framed construction, consisting of seven 3-storey residential buildings and two 4-storey buildings that will be served by an elevator. The apartments would have a combination of surface parking and tuck-under garages, offering direct access to residential units. They also plan 10,000 square feet of commercial space in one building and a leasing office in another.
The new community will also benefit from Celebration Pointe, a 21-acre entertainment center being developed by Unicorp National Developments. The complex at the World Drive interchange will be anchored by a 40,000-square-foot Dave & Buster's and a 27,512-square-foot supermarket. Unicorp and co-developer Daryl Carter signed the contract on Friday (4), paying US$13.623 million for the property.
The Mattamy Homes website indicates that prices and floor plans will be available in 2020.