After the 2024 media blitz announcing one of the most ambitious, ultra-luxury developments in Osceola County history, the team behind Magnifica went quiet, leading many to question if the $1 billion development was really too good to be true.
The plan, unveiled by CIG Companies founders Charles and Stacey Carey, calls for a gated golf community in Kissimmee with 250 mansions, 50 condos and high-end amenities and a sister resort across the street with a full spa and a mix of suites and resort residences. The project would rise on the 1,720-acre Brown Ranch Six property on Poinciana Boulevard, about 1.7 miles south of U.S. 192.
Now comes a strong sign that Magnifica is moving ahead. Lakeland-based Saunders Real Estate represents the Brown family, descendants of pioneer cattle rancher Oren Brown, and has recently changed the property’s status from “for sale” to “under contract.”
Officials with CIG Companies could not be reached for comment.
A longtime county commissioner, the late Oren Brown famously refused an offer from Walt Disney himself for his 6,750 acres, dividing it between his sons, Horace Epps Brown and Frank E. Brown. In 1996, Horace Brown sold 1,500 acres to the Florida Mitigation Bank to pay inheritance taxes and kept the rest, known as Brown Ranch Six.
The Frank E. Brown estate sold 1,500 acres of ranchlands in 2019 to Disney for $11 million. Disney has also used it as a wetland mitigation bank. A year later, Pulte Homes bought 150 acres closer to the Poinciana SunRail station for $9.5 million and developed the 502-home Cypress Hammock community there. In 2021, Frankie Brown Norris sold 120 acres on Old Tampa Highway for $4.5 million to BSC LogisticCenter LLC, but there has been no zoning or permitting activity on the property.
So far, no permits have been filed with Osceola County for Magnifica, but the developer has requested wetland determination reports from the South Florida Water Management District for the resort site, which is planned on roughly 75 acres east of Poinciana Boulevard at the intersection with Oren Brown Road. The two parcels north of Oren Brown are owned by the Brown estate. The 15-acre parcel south of the intersection is owned by an affiliate of Intram Investments, an Orlando developer that bought the property in 2023 for $5.75 million.
“I can confirm that we are under contract,” Intram Vice President Randy Hodge told GrowthSpotter. “They’ve made a deposit, and they’re in the inspection period.”
The contract was signed on Jan. 6. Hodge said the wetland determination request from the water management district is part of the due diligence. “There’s a small wetland on that property they’ll have to deal with.”
The resort, as described during the 2025 announcement, is set to include a five-story building with 113 suites and 111 residences for a total of 224 units. Suites would range in size from 550 to 1,300 square feet and residences would be between 1,300 to 13,000 square feet with private terraces. The crown jewel of the units would be a two-story penthouse with 13,000 square feet of living space, five bedrooms, and five bathrooms. The suites and residences will feature architecture with European and Caribbean influences.
The resort would include a 70,000-square-foot spa with a grotto, a serenity garden, and wellness lounges. Other amenities include a gym, indoor and outdoor yoga spaces, nature trails, a private 9-hole golf course, a mini golf course, pickleball and tennis courts, a children’s aquatic park, and a pet grooming station. Additionally, there could be up to six dining venues, including a French bakery, a rooftop restaurant, poolside cafes, and a wine-tasting room.
CIG Companies applied last year for a wetland determination for the larger parcel, where the golf community and residences are planned, but they withdrew the application in August.
Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407) 420-6261. Follow GrowthSpotter on Facebook and LinkedIn.
