The developer behind the $1.5 billion Everest Place resort district near Disney hopes to break ground on the much-anticipated Nickelodeon Orlando Hotel & Resort in July, the first of at least four hotels planned in the 224-acre development on Osceola County’s W192 tourism corridor.
Teramir Group started construction in 2022 on the massive resort, which stretches from U.S. 192 to Funie Steed Road, and has spent years building the infrastructure, roads and man-made lake. Now, CEO Zafir Rashid is seeking a waiver from Osceola County to commence construction on the Nickelodedon resort before opening Everest Place Boulevard, the main spine road that runs parallel to S.R. 429.
Scheduled to open in early 2028, the plan calls for an 11-story hotel complex overlooking the large artificial lake with a three-story parking garage just off Everest Place Boulevard. The 543,000-square-foot hotel will feature two separate towers, a hotel tower with 211 guest rooms and a condo tower with 181 units that sleep up to 12 guests.
The condos come in three sizes: studio, one-bedroom (with bunk room) and two-bedroom (with bunkroom). All have a living space, full kitchen and balcony and access to the hotel amenities, such as the kids’ club, a variety of restaurants, cafes and shops. They will also enjoy Nickelodeon-themed experiences such as slime and character interactions.
“We have some very special rooms that are themed and you’ve got SpongeBob SquarePants and Teenage Mutant Ninja Turtles, and we’ve got all the Nickelodeon characters that will be roaming the resort,” Rashid said in a 2024 announcement.
Teramir engaged top Mexican architecture firm GVA to design the kid-friendly hotel complex and relied on Germana Engineering and Innovations Design Group for the civil and landscape designs.
The county approved the Site Development Plan for Everest Place in January with several conditions, including one that vertical construction could not begin until the public infrastructure improvements were completed, inspected and accepted by the county. In the waiver request, Rashid noted that the “roadway infrastructure is substantially complete” except for the three intersections on West Irlo Bronson Memorial Highway and Funie Steed Road.
He wants approval to obtain building permits for the resort and begin drilling the concrete pilings for the hotel, condos and parking garage. According to the document, Teramir needs to drill roughly 1,000 foundation pilings, which will take up to four months, before the commencement of vertical construction. He said the team would continue work on the public infrastructure while the hotel construction is underway, and the road would be opened to traffic before he applies for a certificate of occupancy.
The remaining work includes the final paving and striping of Everest Place Boulevard, completing the three intersections, and installing signs, streetlights, landscaping, and irrigation in the right-of-way.
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