$100M Convention Center Contract Talks Down to Wire

ORLANDO-The clock is ticking as executives at Orlando-based Xentury City Development Co. and elected officials at Osceola County rush to complete a contract for the construction of a planned $100 million, 500,000-sf convention center and a 30-story, 1,000-room hotel, 10 minutes from Walt Disney World.

The venture would be the largest of its kind for the 120-year-old county that historically has raised cattle and grown citrus as its basic industries. The county, 20 miles south of Downtown Orlando, sees tourism and conventions as its next golden egg.

The enterprise would be financed by the sale of revenue bonds the county would market on Wall Street. Xentury and its investor associates would guarantee up to $90 million of the project’s cost.