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$600-Mil ChampionsGate Mixed-Use Venture Near Disney Off and Running

ORLANDO-New York-based Apollo Real Estate Advisors and Rida Development Corp. of Houston are joint venturing the 1,204-acre enterprise that will take 10 years to complete. Based on acreage, the project will be Florida's second largest resort destination next to the 30,000-acre Walt Disney World empire in Orange and Osceola counties.

By Alex Finkelstein | Updated on October 24, 2000

ORLANDO-The $600-million ChampionsGate venture is being born on a strategic development limb–at the four corners of the new Interstate 4/County Road 532 interchange, five miles south of the front door of Walt Disney World.

Based on acreage, the undertaking will be the second largest resort destination in Florida next to the 30,000-acre Disney empire in Osceola and Orange counties.

The project’s formal unveiling Tuesday at one of the two already-completed 18-hole golf courses at the ChampionsGate site coincided with an announcement by Irving, TX-based Omni Hotels to open a $150 million, 732-room asset by year end 2002. Ground-breaking is scheduled for spring 2001. The estimated hard construction cost is $92 million.

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