ORLANDO, Fla. (STL.News) – Fort Lauderdale-based BTI Partners, a real estate development and investment firm, unveiled plans to build The Terraces at The Grove Resort Orlando. BTI Partners will launch sales of the new luxury vacation condos on March 1st. The development will have 160 large studios and one-bedroom units located within the grounds of The Grove Resort & Water Park, 5 miles from Walt Disney World® in Orlando, Fl.
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. Sale prices range 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’ due to the design of our hotel residences.”
The Terraces will include a pool with private cabanas, a poolside bar, a fire pit seating area, a gym, a grab-and-go market and a lounge. Owners and guests will have access to The Grove’s amenities, including the Surfari Water Park – offering multiple slides, a lazy river and a FlowRider Double surf simulator, – a 6,300-square-foot game room, three swimming pools, a spa, a fitness center, restaurants, a large-scale grab-and-go market, lakefront pier for watersports, 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. “The Terraces will further attract buyers from all over the world who want to own easy-to-manage real estate near one of the most famous theme park destinations in the world.”
The Terraces’ short-term rental program will be managed by Paramount Hospitality Management, an established veteran of the hospitality industry. Operating as a hands-on, boutique management company, Paramount focuses on the condo hotel segment.