Unity Stone Group is moving to restart a long-stalled hotel-condominium development in Kissimmee, taking control of the Sycamore Orlando Resort site after a prior owner’s bankruptcy. The partially built property at 2961 Sycamore Resort Drive includes two incomplete towers and has traded hands several times since the original developer sought Chapter 11 protection in 2024. Unity Stone Group is now working toward a fourth-quarter 2026 target to break ground on a relaunched version of the project.
The development plan calls for 378 hotel-condo vacation rental units on roughly 10 acres. As currently envisioned, the project would be anchored by lifestyle amenities that include a clubhouse, rooftop lounge, fitness center and meeting space. The construction budget for the relaunched resort is estimated at $140 million, according to the source material.
The property’s path to restart follows a period of significant distress. The Orlando Business Journal reported that the Sycamore Orlando Resort stalled under Primeland Real Estate Development, which accumulated approximately $41.7 million in debt before filing for Chapter 11 bankruptcy protection in 2024. The site was subsequently taken to auction in April 2025, reflecting the level of financial pressure around the original capital structure.
Unity Stone Group most recently acquired the partially completed property in 2025 for $9.5 million. The purchase price reflects a substantial discount to the stated cost of completing the project, underscoring the shift in valuation between the former capital stack and the new ownership. While specific details on Unity Stone Group’s financing strategy have not been disclosed, the group’s intent to restart construction marks a turning point for a resort that had become emblematic of development risk in the area.
Located a few miles from Walt Disney World and surrounded by other major hospitality assets, the Sycamore Orlando Resort site benefits from its position within a mature vacation and entertainment corridor. The planned hotel-condo units are positioned for short-term vacation rental use, tying the project’s performance closely to regional tourism trends. As the new owner works toward an anticipated late-2026 groundbreaking, the project will transition from a distressed, partially built property to an active redevelopment effort within a key Central Florida hospitality node.
