OSCEOLA 360
An Investigative Look Inside Osceola County
A Special Report for The Sun Post News
By Marcos A. Tejeda
Publisher & Editor-in-Chief
The Sun Post News
October 7, 2026
KISSIMMEE, Florida — In the heart of Downtown Kissimmee, just blocks from the Lakefront and near the SunRail corridor, approximately 2.4 acres of publicly owned property sit at the center of a redevelopment proposal that could reshape a significant piece of the city’s downtown.
The project is called Toho Square.
Plans call for a five-story, 100-to-120-room hotel, condominiums, retail space, public parks and infrastructure improvements.
But behind the buildings is a financial arrangement that deserves close attention.
The agreement presented to Kissimmee commissioners contemplates allowing the developer to purchase approximately 0.60 acres for $120,000 for the hotel phase and approximately 0.25 acres for $50,000 for the residential phase.
At the same time, the Downtown Kissimmee Community Redevelopment Agency could provide up to $4.3 million in contributions and incentives connected with the two phases.
That does not mean Kissimmee is simply handing over $4.3 million in exchange for $170,000.
The transaction is considerably more complex.
And that is precisely why it deserves a simple question:
What does the public get in return?
First: $170,000 Does Not Buy All 2.4 Acres
This distinction is critical.
Toho Square encompasses approximately 2.4 gross acres of city-owned property along Pleasant Street between Ruby Avenue and Monument Avenue.
The agreement does not propose selling all 2.4 acres for $170,000.
Instead, the documents describe the sale of the developable portions in two phases.
The hotel phase involves approximately 0.60 acres, with a contemplated purchase price of $120,000.
The residential phase involves approximately 0.25 acres, with a contemplated purchase price of $50,000.
Combined:
approximately 0.85 acres for $170,000.
The remaining property is part of a broader redevelopment plan involving public spaces, infrastructure and other components.
Describing the deal simply as “2.4 acres sold for $170,000” would therefore be inaccurate.
But another figure remains essential:
What is the appraised market value of the portions being transferred?
That number would allow residents to properly evaluate the real-estate component of the agreement.
A Hotel of Up to 120 Rooms
The first phase is the project’s centerpiece.
The agreement describes a five-story select-service hotel with between 100 and 120 rooms, identified as a Fairfield by Marriott or equivalent.
The phase also includes initial infrastructure and utility work, along with an approximately 23,000-square-foot linear park along the railroad boundary.
The location is strategically important.
Downtown.
The Lakefront.
SunRail.
Restaurants.
Businesses.
And one of Kissimmee’s most visible public districts.
The City’s economic-development argument is straightforward: use publicly controlled property to attract private investment and increase economic activity downtown.
OSCEOLA 360 will be watching whether that promise becomes reality.
Phase Two: Condominiums and Retail
The residential component calls for another five-story building.
Municipal documents describe approximately 18 to 20 owner-occupied condominiums above roughly 5,000 square feet of ground-floor retail space.
A smaller public park is also contemplated.
That introduces something Downtown Kissimmee has long sought to strengthen:
people who do not simply visit downtown, but actually live there.
More residents could mean permanent customers for restaurants, stores and local services.
But that theory should eventually be measured.
How many condominiums are actually built?
At what prices?
How much retail space is occupied?
And what effect does the development have on existing downtown businesses?
The $4.3 Million Requires Explanation
This is where the public financing becomes particularly important.
The Downtown Kissimmee CRA could provide up to $4.3 million in contributions and incentives across the two phases.
For Phase One, primarily the hotel component, the documents contemplate up to:
$2.9 million.
That includes:
$1.4 million in incentives or reimbursements outside the Pioneer Project Incentive Program;
and up to
$1.5 million through the PPIP.
For Phase Two, contemplated support totals:
$1.4 million.
That includes:
$100,000 in fee- or impact-related reimbursements;
and up to
$1.3 million through the PPIP.
Potential total:
$4.3 million.
But there is an important difference between authorizing incentives and immediately writing a check.
The Money Is Tied to Development
Municipal documents describe contributions that occur after the issuance of a Certificate of Occupancy.
The PPIP incentives of up to $1.5 million for the first phase and $1.3 million for the second would be distributed over a five-year period after the applicable certificate is obtained.
That structure reduces part of the public’s risk.
The developer would have to advance the project before receiving certain benefits.
So it would also be inaccurate to characterize the $4.3 million as cash simply being handed over upfront.
Still, the public needs to understand:
What conditions must be satisfied before each dollar is paid?
What happens if the development is never completed?
What happens if only one phase is built?
And what mechanisms allow Kissimmee to withhold or recover incentives if contractual obligations are not met?
Those details matter as much as the headline amount.
The Developer Has Infrastructure Responsibilities, Too
The private developer’s responsibilities extend beyond constructing buildings.
The agreement contemplates work involving:
civil engineering;
KUA utility relocations;
water and sewer connections with Toho Water Authority;
stormwater connections;
sound and landscaping mitigation along the railroad;
and modifications involving streets and sidewalks.
The linear park and smaller public park also have value.
That is why the transaction cannot accurately be reduced to:
$170,000 received
versus
$4.3 million provided.
The entire package must be evaluated.
One Critical Number Is Still Missing: Private Investment
This is one of the most important figures OSCEOLA 360 wants to establish.
What is the total committed private investment?
The documents describe buildings, infrastructure, incentives, land and timelines.
But to properly evaluate the public return, residents need another number:
How many private dollars will be invested downtown as a result of this agreement?
If the public sector is committing property and incentives, the amount of private capital being committed should be equally clear.
Knowing the size of the hotel is not enough.
We need to know the size of the investment.
Why Use CRA Money?
Community Redevelopment Agencies exist to stimulate reinvestment, improve infrastructure and address conditions that can hold back economic development within designated areas.
Kissimmee’s stated objective for Toho Square is to attract residents, retain businesses and strengthen transit-oriented development around the SunRail corridor.
The incentives therefore should not be evaluated exclusively as government spending.
They should be evaluated as a public investment.
And investments are supposed to generate returns.
Those returns could include:
higher property values;
increased commercial activity;
jobs;
tourism;
hotel stays;
new downtown residents;
greater SunRail activity;
and expansion of Downtown Kissimmee’s economic base.
But those benefits must eventually be measured.
The Timeline Will Be a Test
The agreement contains relatively specific milestones.
From September 2026 through September 2027, the project is expected to move through rezoning, replatting, utility engineering and permitting.
Land closings for both phases are anticipated around September 2027.
Construction of the residential phase is projected from September 2027 through approximately October 2028.
Construction of the hotel and linear park is projected from September 2027 through approximately March 2029.
The initial development term extends to August 2031.
Those dates matter.
Because two years from now, OSCEOLA 360 can return to this agreement and ask:
Did the project remain on schedule?
Toho Square Did Not Begin Yesterday
The redevelopment process has a history.
On July 1, 2025, after considering competing proposals for the property, the Kissimmee City Commission selected SkyView Kissimmee Hotel Developer LLC as the highest-ranked developer and authorized the City Manager to negotiate an agreement based on the conceptual plan.
The company identified in connection with the hotel agreement currently appears as an active entity in Florida corporate records.
The current discussion, therefore, is not about selecting a developer from scratch.
It is about converting that earlier selection into enforceable contractual obligations.
Downtown Kissimmee Needs Investment
The argument in favor of redevelopment also deserves consideration.
Undeveloped public property does not generate the same economic activity as an operating hotel, occupied residences, active storefronts and usable public spaces.
Governments sometimes use incentives to accelerate private investment that the market might not otherwise produce in the same place or on the same timetable.
A hotel could bring visitors.
Condominiums could add residents.
Retail could increase pedestrian activity.
Public parks could improve the downtown environment.
And together, those components could strengthen the connection between Downtown Kissimmee, the Lakefront and SunRail.
That is the economic argument.
Now it must be demonstrated through results.
The Risk Is Between the Rendering and the Reality
Large redevelopment projects often look impressive on paper.
Hotels.
Restaurants.
Parks.
Residences.
Retail.
Walkable streets.
But the real risk emerges between the rendering and the ribbon cutting.
Interest rates change.
Construction costs rise.
Real-estate markets shift.
Hotel operators change.
Investors change.
That is why performance requirements are just as important as architectural plans.
Kissimmee does not simply need a promised development.
It needs a completed one.
Five Numbers We Will Follow
OSCEOLA 360 will pay particular attention to these figures:
$170,000
The contemplated purchase price for the developable portions of both phases — approximately 0.85 acres combined.
$4.3 million
Potential Downtown Kissimmee CRA contributions and incentives across both phases.
100–120
The number of hotel rooms contemplated.
18–20
The number of condominiums planned for the residential phase.
March 2029
The projected completion period for construction of the hotel and linear park.
But a sixth number is still needed.
And it may be the most important:
total private investment.
What We Still Need to Know
OSCEOLA 360 will continue seeking answers to several questions.
What is the current appraised value of the approximately 0.85 acres contemplated for transfer?
What is the total private investment commitment?
How many permanent jobs are projected?
How much additional revenue does the CRA expect the redevelopment to generate?
What exact conditions must be met before the $4.3 million can be distributed?
What happens to the incentives if one phase is never built?
Are there clawback provisions protecting public funds?
Who will own and maintain the public parks?
And when will residents be able to compare the project’s original economic projections with its actual performance?
A Caution About the October 6 Meeting
The Master Development Agreement appeared on the October 6 agenda with a recommendation for approval involving both the Kissimmee City Commission and the Downtown Kissimmee CRA.
At the time this edition was prepared, OSCEOLA 360 had not located published official minutes confirming the final outcome of the vote.
For that reason, this column does not characterize the agreement as definitively approved.
Once official confirmation becomes available, that decision should become part of the project’s accountability record.
OSCEOLA 360
Toho Square could become one of the most visible transformations in Downtown Kissimmee.
A hotel.
Condominiums.
Retail.
Parks.
Infrastructure.
And millions of dollars moving between private investment and public incentives.
The project could ultimately prove to be a strong investment for Kissimmee.
It could also encounter delays, changes or results that fall short of projections.
Today, we do not yet know which outcome will prevail.
But we do know this:
When a city puts public land and up to $4.3 million in public support into a redevelopment project, transparency should not end when the agreement is signed.
That is where it should begin.
Because a few years from now, the question will not be whether the rendering looked impressive.
It will be much simpler:
What did Kissimmee get in return?
