Preliminary plans filed with the city by the developers show the development would have about 200,000 sf of retail and office space; a mix of 3,000 townhomes, condos and single-family residences; and a 120,000-sf, 150-bed assisted-living facility and nursing home. The proposed development site, on 242 acres of the 580-acre tract, is at Dyer Boulevard and Carroll Street near the city's north side.

Area land brokers and city staffers tell GlobeSt.com the developers estimate their project will take six years to build out. Representatives of Falcon Land & Development Co. and Regional Development Group couldn't be reached by GlobeSt.com's publication deadline to learn the estimated development cost of the project or a specific ground-breaking date.

However, area construction sources in Osceola and Orange counties who have worked on similar large projects in the past five years, tell GlobeSt.com they estimate the hard construction cost alone of the planned 200,000 sf of retail and office would be about $30 million, based on a $150-per-sf cost; the 3,000 homes would come in at about $450 million, based on an average cost of $150,000 per unit; and the 120,000-sf seniors housing facility could cost at least $18 million, based on a $200 per-sf cost.

Osceola County tax records confirm the developers bought the 580-acre tract from the Bronson ranching family in Kissimmee and Tallahassee for about $41 million or an estimated $70,689 per acre ($1.62 per sf). The property is near the Boys and Girls Club of Central Florida and across the street from the Legacy Parc condominiums, formerly the Horizon Apartments.