Osceola Convention Center Project Lacks Funding

KISSIMMEE, FL-The planned $400-million, 250,000-sf Osceola Convention Center, 10 miles from Walt Disney World, could be at least two years away from being a done deal, area brokers and independent urban planners in a position to know tell GlobeSt.com.

After voluntarily forfeiting a $1-million performance deposit check on Oct. 1 to the county, Austin, TX-based FaulknerUSA still hasn’t come up with a financing plan for the undertaking in the prime tourist corridor at State Road 535 and Osceola Parkway, sources in Osceola County government tell GlobeSt.com.

Under previously disclosed terms, the county would contribute a maximum $98.5 million to build the center. A revenue bond issue would underwrite the entire project and a planned adjacent 800-room hotel. The county would create a nonprofit corporation to own the land and the buildings.