New Construction Projects in Buenaventura Lakes, Florida

Project 1: Las Margaritas

• Developer: Osceola County (with support from Cavco, Arnco Construction, Marlin Construction, and Osceola Engineering; funded in part by HUD)
• Location: 140 Oakwood Drive, Buenaventura Lakes
• Type: Residential (Affordable Senior Housing)
• Units/Size: 9 one-bedroom units, clubhouse, and shared outdoor spaces
• Status: Under Construction (groundbreaking May 2026)
• Expected Completion: Later in 2026
• Description: Affordable senior housing development for residents aged 62+ with incomes at or below 60% of area median income. Part of county efforts to expand attainable housing options.[1]

Project 2: Buen Vecino (Buen Vecino Senior Housing)

• Developer: Osceola Council on Aging (OCOA), with funding from Osceola County ($5.2M), HUD (~$5.6M), and City of Kissimmee ($500k)
• Location: Competition Drive, Buenaventura Lakes (on former golf course site, near 253 Competition Drive; ~6-7 acres)
• Type: Residential (Affordable Senior Apartments)
• Units/Size: 60 one-bedroom apartments (~600 sq ft each)
• Status: Recently Completed (grand opening July 2026)
• Expected Completion: Late 2026 (achieved)
• Description: Affordable rental community for seniors aged 62+ with incomes at or below 50% of area median income. Features a clubhouse for communal dining and activities, computer lab, exercise facility, and onsite services. Rent subsidized (residents pay ~30% of income).[2]

Project 3: Encanto Isla (Encanto and Isla communities)

• Developer: Wolfson Development Co. (in partnership with Paragon Group; general contractor First Florida)
• Location: Intersection of Buenaventura Boulevard and Buttonwood Drive, Buenaventura Lakes (former BVL golf course; ~25 acres total)
• Type: Residential (Build-to-Rent Townhomes)
• Units/Size: 214 townhomes total (with attached garages and private yards); amenities include clubhouse, fitness center, pool, business center, walking trails, and more
• Status: Recently Completed (groundbreaking early 2023; first units targeted for late 2023)
• Expected Completion: Phased delivery starting late 2023 (within last 3 years as of 2026)
• Description: Purpose-built rental townhome communities (sister neighborhoods Encanto and Isla) offering single-family-style living with community amenities. Located near retail, dining, and parks.[3]

No other significant new residential, mixed-use, or commercial construction projects meeting the criteria were identified in verifiable sources. Infrastructure work (e.g., roadway and drainage improvements along Buenaventura Boulevard) is ongoing but does not qualify as primary new construction developments.