The Grove Resort & Spa
Orlando Condo Hotel Units from $264,900
March 10, 2016
Hi, Joel Greene here from Condo Hotel Center. As you may remember, I’m dad to 17-year-old twin girls, who are now high school seniors.
In the past few months, my girls have been consumed with applying to college. I’m happy to say they both got into their #1 school, which was the University of Central Florida (UCF). One of the main reasons they chose that school is that they love Orlando.
Ever since they were little girls, we’ve made the 3.5 hour trek to Orlando at least once a year. We’ve visited all the amazing Disney and Universal Studios theme parks, shopped in the area’s incredible malls and eaten at numerous fine restaurants. Orlando has so much to offer.
That’s why today I’m delighted to have a new Orlando condo hotel to tell you about. I’m almost as excited about it as my girls are about getting into UCF! Read on for details (about the condo hotel, not the university).
Orlando’s Newest Condo Hotel
The Grove Resort & Spa is a 2.1 million square foot development located on Lake Austin Reserve. It has 16 interconnected buildings, each seven stories and designed in a contemporary Mediterranean style.
Its 878 condo hotel residences are spread out over 115 acres. There are also three six-level parking decks and an amazing adrenaline-infused water park featuring the flow-rider (surf simulation machine), a lazy river and lagoon pool.
The property was built in 2008 but never occupied. It is currently being updated and upgraded.
The Back Story
The Grove Resort & Spa comes with some history. Originally, the development was named Grande Palisades, and construction was completed in 2008.
All the units were pre-sold for approximately $395,000 per unit. But before the sales were completed, the real estate market took a huge downturn.
Ultimately, no units were closed, and the building has never been occupied. The owners defaulted and the development reverted to the bank. Since then, the bank has spent millions of dollars to maintain the asset in impeccable condition.
In 2014 BTI Partners bought the construction loan and received clean title in 2015. They’ve embarked on an exhaustive renovation and upgrade, spending approximately $75 million to make the property Orlando’s premier resort-style condo hotel.
A Water Park & More
When the renovation is complete,The Grove Resort & Spa will have amazing amenities:
- Three large pools and a large spa
- Large restaurant
- Indoor/outdoor tiki bar with food/drink service
- Full-service spa
- Fitness center
- Boat/fishing dock with lake water sports
- Pool lounge
- Impressive four-star lobby
- Convenience store/deli/sundry shop
- Meeting space of 7,500 sq. ft.
Additionally, The Grove Resort & Spa will have its own water park with impressive features:
- Flow Rider, a dual-sided wave simulator for surfing
- Large lagoon style pool with beach entry
- Interactive water play activities with water slide and large waterfall
- Shallow kiddie pool
- Lazy river with cascading waterfalls
- Bar and grill
As a condo hotel, The Grove Resort & Spa will offer the following services:
- 24-hour security
- Multi-lingual hotel concierge
- Valet, doormen, front desk
- In-room or poolside massage
- Pool-side services
- Daily housekeeping
- Daycare facility
The upgrades being done by The Grove Resort’s developer are to the amenities as well as the individual condo hotel units. Phase one of the renovations includes approximately 300 of the 878 units, which should be complete within the next couple of months.
The units will be delivered fully furnished, freshly painted, and with fully equipped kitchens. Everything from flooring to the appliances will be brand new, even though the original items were never used. The new features include:
- GE stainless steel appliances
- Granite kitchen and bathroom counter tops
- Large bath tubs
- Crown molding
- Private, screened in balconies
- Owners’ closet (in some units)
- State-of-the-art electronic entry-lock security system
- Wireless high-speed Internet service
Orlando Is Awesome!
Orlando is an incredible location. Just ask my daughters. But that’s not just their opinion. Orlando is one of the most visited cities in the world and for good reason.
It has an endless supply of attractions, shopping venues, dining options and nightlife. It also has zipline safaris, skydiving, scuba diving, hot air balloon rides, boating, fishing, museums and more. Pretty much anything you could want to see or do exists in Orlando.
The Grove Resort is located close to these world-class theme parks:
- Walt Disney World entrance 05 minutes
- Magic Kingdom 17 minutes
- Disney Hollywood Studios 19 minutes
- Epcot Center 16 minutes
- Animal Kingdom 14 minutes
- Blizzard Beach 15 minutes
- Universal Studios 30 minutes
Receive Condo Hotel Revenue
As a condo hotel, owners of the Grove Resort & Spa will have the option to participate in a professionally-managed rental program. The revenue generated helps defray the costs of ownership.
The hotel is being managed by Benchmark Hospitality International, which has approximately 30 luxury hotels under management across the United States and Virgin Islands.
The developer, BTI Partners, is one of Florida’s leading residential real estate land owners and developers. In business for over 25 years, it has a portfolio of over 8,000 acres of land, 17,500 residential units and over two million square feet of commercial and retail development.
Phase One Available Now
The condo hotel units in the first phase of The Grove Resort & Spa are for sale now. They are all two- to three-bedrooms and 1,265 to 1,544 square feet. The prices range from $264,900 to $349,900 for a limited time.
Buyers can reserve units now with 25% deposits and expect to close in August 2016. Financing is available starting at 30% down.
Want to know more? I’ve got lots of details in my data sheet, which you can request below.
Keep an Eye Out for the Greene Twins
I told you at the beginning of this write-up that my girls are headed to University of Central Florida this summer, but keep your eyes peeled for them in Disney’s parks. If I know them, that’s where they’ll likely be spending their time when not in class.
As always thank you for your interest in the properties I feature. If you’re interested in The Grove Resort & Spa or properties in Miami and other parts of Florida, I hope you’ll give me a call. It’d be my pleasure to provide you with all the facts you need to make an informed decision.
Have a great day!
Licensed Real Estate Broker
Condo Hotel Center
1368 NW 165th Ave.
Pembroke Pines, FL 33028
Want to know more about me? Click below:
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