Kissimmee Has Bid $14 Million On Property That Includes An Old Kmart For Mixed-Use Development

Photo byMike Kalasnik from Fort Mill, USA, CC BY-SA 2.0, via Wikimedia Commons

Many Floridians do not like seeing the empty parking lots of long-closed Florida Kmarts. Sometimes, broken-down vehicles and trash end up littering the parking lot, and it can be unsightly. Some of these sites are getting new uses, however. I've previously written about one old Florida Kmart potentially becoming a new Home Depot, as one example. And now the city of Kissimmee would like to buy an area of property that includes an old, empty Kmart for a purpose that isn't solely retail.

The City Of Kissimmee's Desire To Spruce Up The Vine Street Area: Kissimmee has been actively attempting to spruce up and revitalize the Vine Street corridor, which is dotted with old and abandoned hotels and motels. The city has built new affordable housing, The Haven on Vine, on the site of a former hotel, as one example.

Tom Tomerlin, economic development director for the city of Kissimmee, has said that the city has been approached by big box stores to replace some vacant real estate in the area, but the city wants to focus on mixed-use development instead.

The Real Estate Offer, Including The Empty Kmart: Kissimmee's Community Redevelopment Agency has made an offer of $14 million for around 22 acres of property on Vine Street that includes a currently occupied Big Lots and an empty Kmart. The current asking price of the property is $16.7 million.

The city is reportedly considering many different uses for the property, including multifamily, retail, hotel, and office - assuming that the city's offer is accepted.