Market Brief
Muirfield Development has started construction on Gateway Osceola, a 252-unit apartment community on about 12 acres in the Kissimmee area, financed through HUD's 221(d)(4) program and slated for summer 2028.
Gateway Osceola adds 252 rental units in Kissimmee by 2028. What was announced and how Osceola County home sales stood in October.
Muirfield Development has started construction on Gateway Osceola, a 252-unit apartment community on about 12 acres in the Kissimmee area of Osceola County, according to a November 2, 2026 Yield PRO report. The four-story community has long-term financing through the HUD 221(d)(4) program, arranged by Greystone, sits in a Qualified Opportunity Zone and is slated for completion in summer 2028. For context, Osceola County single-family homes sold at a median $416,500 in October 2026, 5.1% below the 2022 peak, according to our Central Florida Market Pulse.
This piece covers what was announced, what the financing program means for a project like this, and how the Kissimmee for-sale market looks as new rental supply is added. Monthly figures for the four-county Orlando market are on the Orlando market data hub.
What is Gateway Osceola?
The project, as reported:
| Item | Detail |
|---|---|
| Developer | Muirfield Development |
| Homes | 252 apartments |
| Building | Four stories |
| Site | About 12 acres, Kissimmee area, Osceola County |
| Unit types | One, two and three bedrooms |
| Unit features | Quartz countertops, stainless steel appliances, private garages |
| Amenities | Clubhouse with coworking space, pool with cabanas, fitness center, dog park, lake trail |
| Financing | HUD 221(d)(4), arranged by Greystone |
| Opportunity Zone | Yes |
| Completion | Slated for summer 2028 |
| General contractor | BBL Building Co. |
Source: Yield PRO, November 2, 2026.
The report does not give rents, a street address or the total project cost. Those details usually surface closer to leasing.
What is HUD 221(d)(4) financing?
Section 221(d)(4) is a federal program in which the Federal Housing Administration insures loans for building or substantially rehabilitating multifamily rental housing. The loans are long-term and fixed-rate, which gives a developer a single loan through construction and into operation rather than a short construction loan followed by a refinance. That matters for timing: with financing already in place, the project's main risks shift to construction and lease-up rather than a later refinance.
The Opportunity Zone designation is a federal tax incentive for investment in designated census tracts. It affects the developer's and investors' tax treatment, not the rents tenants pay.
How were Kissimmee-area homes selling before this supply arrives?
The new units will not deliver until 2028, but the for-sale market they join is already looser than its 2022 peak. Our October Market Pulse shows:
| Area | Closings | Median sale price | Median days on market | Share sold over original list |
|---|---|---|---|---|
| Osceola County, October 2026 | 418 | $416,500 | 48 | n/a |
| 34744 Kissimmee, Aug to Oct | 139 | $400,000 | 41 | 9.4% |
| 34746 Kissimmee, Aug to Oct | 163 | $420,000 | 45 | 14.1% |
| 34758 Kissimmee, Aug to Oct | 158 | $329,500 | 33.5 | 13.3% |
| 34743 Kissimmee, Aug to Oct | 53 | $349,900 | 31 | 15.1% |
| 34741 Kissimmee, Aug to Oct | 46 | $394,975 | 35.5 | 10.9% |
| 34747 Kissimmee, Aug to Oct | 160 | $556,000 | 56.5 | 3.8% |
Source: Momentum Market Pulse, Central Florida (Stellar MLS), October 2026 edition, computed by Momentum from Stellar MLS records. Single-family homes. Deemed reliable but not guaranteed.
Osceola's October single-family median was 0.3% below a year earlier and 5.1% below its 2022 peak. By comparison, Orange County's October median was $500,000, 10.8% above its 2022 peak, with a median 31 days on market. Kissimmee ZIPs ranged from 31 days in 34743 to 56.5 days in 34747, which also had the highest median at $556,000.
Why does a rental project matter for Kissimmee home buyers and sellers?
New apartments with garages and full amenity packages compete for some of the same households that would otherwise buy an entry-level house or townhome. In a county where the single-family median sits around $400,000 and below its 2022 peak, more rental choices can lengthen the time some first-time buyers spend renting. For owners of investment homes and condos that rent long term, new amenity-rich supply adds competition for tenants when it opens.
The timing is the main caution: summer 2028 is more than 18 months out, and leasing will run beyond that. Our Kissimmee resale listings piece covers the resale side, and our new-construction townhomes piece covers builder product in the four counties. The Orlando area ZIP code piece has the full single-family ZIP table.
The Kissimmee, St. Cloud and Orlando market pages carry current local prices.
People also ask
What is Gateway Osceola in Kissimmee? A 252-unit, four-story apartment community on about 12 acres in the Kissimmee area of Osceola County, developed by Muirfield Development. Construction had started by November 2026, with completion slated for summer 2028.
How is Gateway Osceola financed? Through the HUD 221(d)(4) program, a federally insured long-term loan for new multifamily rental housing, arranged by Greystone, according to Yield PRO.
What is the median home price in Osceola County? Single-family homes in Osceola County sold at a median $416,500 in October 2026, 0.3% below a year earlier and 5.1% below the 2022 peak, with a median 48 days on market, according to our October Market Pulse.
When will Gateway Osceola open? The developer has slated completion for summer 2028. Rents had not been announced as of November 2026.
Limitations
Project details come from one trade report; rents, address and cost were not disclosed, and construction timelines can change. ZIP figures are single-family closings from August through October 2026, and county figures are October 2026 single-family closings; neither measures rents. Market Pulse figures are computed from MLS records by Momentum and are deemed reliable but not guaranteed.
Sources
- Muirfield Breaks Ground on Orlando-Area Opportunity Zone Multifamily Development, Yield PRO, November 2, 2026.
- Momentum Market Pulse, Central Florida, October 2026 edition, Momentum Research report built from Stellar MLS records, generated November 13, 2026.
- Orlando market data hub, Momentum Research.
Disclosure: Jon Brooks is a co-founder of Momentum Realty, a Florida real estate brokerage that owns and funds Florida Housing Intelligence. Momentum has a financial interest in Florida real estate transactions, including in markets named here. See our editorial standards.
Market statistics in this article are computed from MLS data licensed by Momentum Realty, and are current as of the date shown. Data may be preliminary and subject to revision by its source. This article is general information, not advice about any specific property, transaction, or financial decision, and is not a representation about any specific property, community, builder, or association.
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