BTI Partners, a real estate development and investment firm, unveiled plans to build The Terraces at The Grove Resort Orlando. BTI Partners will officially launch sales of the new luxury vacation condos on March 1. The new development will consist of 160 large studios and one-bedroom units located within the grounds of The Grove Resort & Water Park in Winter Garden — located five miles from Walt Disney World® Theme Parks. The unveiling of The Terraces comes as The Grove Resort & Water Park has sold more than two-thirds of its 878 luxury two- and three-bedroom vacation condos. Filled with state-of-the-art amenities, the award-winning resort has set the standard for a new generation of vacation homes. The Terraces will offer fully furnished 360-square-foot studios and 482-square-foot one-bedroom condos with sale prices ranging from $189,000 to $284,000. The condos — showcasing a modern and sophisticated interior — can be placed in a short-term rental program to generate revenue and help offset the cost of ownership.
“The growing demand for short-term, vacation rental opportunities in Orlando led us to develop ahead of schedule our last remaining site in our 106-acre resort,” said BTI Partners CEO Noah Breakstone. “The Grove Resort & Water Park attracts a diverse group of buyers and resort guests from all over the globe. We offer them a world-class resort experience coupled with a feeling of ‘being at home’ thanks to the design of our hotel residences. All just minutes from the Walt Disney World’s park entrance.”The Terraces will include amenities such as a pool with private cabanas, a poolside bar, a fire pit seating area, a modern gym, a grab-and-go market and a casual lounge. Owners and guests will also get to enjoy The Grove’s amenities, including the award-winning Surfari Water Park — offering multiple slides, a lazy river and a FlowRider Double surf simulator — as well as a 6,300-square-foot game room, three swimming pools, an onsite spa, a fitness center, high-end restaurants, a large-scale grab-and-go market, lakefront pier for watersports, and three bars and lounges.
“We are thrilled to see the real estate community react so positively to our new project,” said Dominic Pickering, director of sales at The Grove. “Working closely with third-party real estate agents has been key to our success selling our two- and three-bedroom vacation condos at The Grove. They are excited about bringing this new product to their clients. There is a pent-up demand in Orlando for properties at this price point and we want to fill that void. The Terraces will further attract buyers from all over the world who want to own easy-to-manage real estate near Walt Disney World, one of the most famous theme park destinations in the world.”The Terraces’ short-term rental program will be professionally managed by Paramount Hospitality Management (PHM), an established veteran of the hospitality industry. Operating as a hands-on, boutique management company, PHM focuses on the condo hotel segment. PHM, which currently manages the short-term rental program at The Grove, has a global reputation and proven track record of consistently producing sound financial results for their hotels and owners year after year. Since opening its first tower in 2017, The Grove has rapidly become a world-class resort. The sprawling resort recently earned the prestigious USA & Americas Property Awards for Mixed-Use Development Florida, USA; Best Leisure Development Florida, USA; Highly Commended Hotel USA; and International Four-Star Hotel 2019-2020. In addition, The Grove earned BTI Partners the regional award for the “Best in Americas for Leisure Development” category. Orlando, which attracted 75 million visitors in 2018, continues to be the most visited city in the U.S.
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