Mona Lisa Builds a New Orlando Area Condominium-Hotel

Mona Lisa Hotels and Residences, a French company that owns 25 properties in France, has purchased 10 acres in Celebration, Florida on which it plans to build an Orlando area condominium-hotel. The deal closes this month, and the "Mona Lisa at Celebration is expected to open by spring of 2007."

This 240 unit Orlando area condominium complex will be located near Celebration Place, "the entry to Celebration off U.S. 192," and will provide additional meeting space for community businesses and other amenities for tourists and residents.

Although these Orlando area condominium units are already priced between $300,000 and $500,000, "no sales will be made until condominium documents are approved by the state."

Another foreign company, Four Seasons Hotels Inc. of Canada, has also purchased 400 acres in Celebration. The company is planning on using the land to build a 425 room hotel, golf course, Florida time-shares and single family homes.