United Parks & Resorts, the parent company of SeaWorld, is re-evaluating its development strategy for prime real estate in Orlando. The company has filed a Change Determination Review application to develop up to 670 multifamily residential units on undeveloped land along Sea Harbor Drive. This site is directly across from the main parking lot of SeaWorld Orlando.
The proposed project, named SeaWorld Vacation Village, lists Winter Park-based Epoch Residential as the developer. The application identifies four affected parcels: two owned by SeaWorld, one by the Renaissance Orlando Resort, and another by the Sea Harbor Office Center. Preliminary plans indicate construction will proceed on the SeaWorld and Renaissance properties, with the office parcel used for existing and emergency access.
This new direction follows the quiet withdrawal of two previous hotel development plans last year. In late 2023 and early 2024, SeaWorld had filed applications for a 504-key full-service hotel at the intersection of I-Drive and Central Florida Parkway. A second project, dubbed “Project Canopy,” aimed for a 250-room hotel with a spa and treetop restaurant within the Discovery Cove section of SeaWorld.
Both hotel applications were officially withdrawn in May 2025. Carlos Varela, Director of Design & Development for SeaWorld’s Orlando parks, informed county planners that these hotel projects were “paused indefinitely.” The land designated for “Project Canopy” included 50 acres of vacant land and existing surface parking near Discovery Cove.
Marc Swanson, CEO of United Parks & Resorts, has consistently emphasized the development potential of the company’s extensive land holdings. The company owns over 2,000 acres of real estate across its various park locations, with approximately 400 acres situated adjacent to its parks. Swanson stated in a recent fourth-quarter earnings call that the company is taking its time to “optimize our outcome,” evaluating multiple sale-leaseback proposals and actively discussing hotel, timeshare, residential, and other commercial developments with partners.
The I-Drive District in Orlando is currently the region’s most desirable multifamily submarket. This area leads in both new residential construction and absorption rates. Notably, Atlanta-based RangeWater Real Estate has also filed plans for a 250-unit apartment community at 6305 Westwood Boulevard, just north of the SeaWorld site, indicating strong market demand for residential properties in the vicinity.
Industry observers view the shift towards residential development as strategic. Brock Nicholas, owner and developer of the nearby Villatel Orlando Resort, highlighted the SeaWorld property’s advantageous location. Its frontage on both Sea Harbor Drive and Westwood Boulevard places it within walking distance of the Orange County Convention Center. The site’s zoning within the I-Drive Overlay allows for both short-term and long-term rental accommodations, providing development flexibility.
Nicholas speculated that SeaWorld might seek to entitle the land for residential use and then sell it, or engage in a joint venture. This approach would allow the company to capitalize on the anticipated increase of “out-of-town capital” entering the Orlando real estate market this year. The pivot from direct hotel operation plans to residential development reflects a response to evolving real estate trends and market demand in Central Florida.
