Osceola seals the deal with Korean developer for $1B NeoCity town center
“Osceola County has sealed the deal with Korean tech billionaire Young-hwa Song to sell up to 70 acres in NeoCity for a future mixed-use town center that will combine luxury living with shops and restaurants and a new performing arts center on the lakefront.
Days after the town center plans were made public, Maury L. Carter & Associates send out an email blast promoting its newest listing for 12.2 acres on E192 at the NeoCity Way entrance to the district. President Daryl Carter said he used the county price as a comparable when pricing his site.
“They’re priced at $565,000 per acre,” Carter said. “So I would look at that and say I have 8 usable acres with direct frontage on U.S. 192 in front of NeoCity. So if a 25-acre internal site is worth $565,000 an acre, my site must be worth more. We absolutely think in those terms. People are excited about what’s happening in NeoCity, and it’s certainly driving phone and electronic traffic to our door.”