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Previously the owner of a mortgage company, Carlos Balzola is currently the CEO of ICM Development Group. Balzola found his way into the world of community and economic development through finding success in performing condo conversions for clients, which inspired him to perform conversions with the help of a group of investors in 2003. 

His business partner, Ed Carlson, is the President and CEO of Cornerstone Group. Within the company, Carlson had seen it grow from real estate management to full development. Together they have been the masterminds in innovating Osceola County when their first conversion began, right here in Kissimmee. 

ICM Development Group and Cornerstone Group in the Osceola Community

Cornerstone Group and the ICM Development Group have invested greatly in the Osceola County community; each of their five properties has a $12 million dollar investment. The companies’ property, Maingate Village, has a 97 percent occupancy rate in July of 2022, just a few months after opening. West Bay Village, located on Sherberth Road, has already pre-leased all 88 units they had available and has a lengthy waitlist that continues to grow. The business partners have focused on providing affordable rent in the Osceola County community while repurposing previously used facilities and have contributed greatly to the economic growth and economic development of the County. Carlson says that each property has been very different to develop, but they all bring a rewarding feeling of knowing they are making a positive impact. 

The companies currently has three approved projects and two projects in the pipeline. Osceola County has offered tremendous support to the projects as Balzola recounts, “Osceola County came in and asked, ‘What do you want to do? We can get everything you need to get it done.’” At ICM Development Group, along with the Osceola County community, they find happiness in providing comfortable residences for the community and prioritize quality in their developments.

Why Develop on West 192?

When Balzola first emerged into the development industry, there was a decision to be made on where these developments would be located. There was fear from Balzola and Carlson that pricing would be so high that it would result in their target market never being reached. The flexibility and presence of opportunities in Kissimmee/Orlando area made the decision easier for Balzola and his partner. The mission has always been to “provide the community with something it really needs,” said Carlson. 

West 192 Development Authority provided assistance to Balzola and Carlson that they couldn’t find anywhere else. The development grants like the Catalyst Site Initiative Grant was approved by the development authority in the amount of $1.125 million for ICM Development Group. The Catalyst Funds help provide developers with the opportunity to make the vision of their business a reality. “They always make time to hear what we have to say and actually try to help,” said Balzola. West 192 and the Osceola County community listen, care, and are hands-on in pursuing success for all of their businesses. He says there is a focus on the protection of the public and the betterment of the community that is undeniable, a quality that sets us at West 192 apart from other locations.

“A Good Investment”

West 192 has assisted many developers, including Balzola and Carlson, achieve their goals and take charge of their project visions. If you have a question, we will provide an answer. We care about the details, our community, and are here to help however we can. When asked about giving advice to future developers, Balzola said, “anything you are able to do in West 192 and Osceola County is a good idea and a good investment.”

To learn more about our economic redevelopment grants and how to begin developing in the W192 Corridor, contact economic development director Christina Morris at Christina.Morris@osceola.org.