Condotel Developer Secures $24M Construction Loan for Orlando Project

A new $45 million condotel project near Walt Disney World is set to move forward after securing a $24 million construction loan. The Orlando Business Journal reports The Flats Orlando will be a seven-story condotel — or a condominium project operated as a hotel with a registration desk, cleaning services and more — with individually-owned units ranging from studios to three-bedroom residences.

Urban Network Capital Group has partnered with LV Lending for the loan. The funds will go toward construction of the 160-unit luxury resort project on a 1.9-acre property at 4849 W. Irlo Bronson Memorial Highway in Kissimmee, not far from Disney World.

ODA Architecture designed the project, which includes amenities such as a full-service spa, fitness center, 24-hour in-room dining and a rooftop terrace.