A spokesperson for the hospital said it has no firm plans to develop the vacant Mount Dora land.
Steven H. Cota, Trustee of the Dora Pines Land Trust which sold the land to Waterman, said the buyers did not reveal their plans for the commercially zoned land.
"We don't know what they are going to put in there," Cota said on Tuesday.
Cota's father bought the land with other investors in 1971 along with more property behind it, which included the Dora Pines mobile home park community. That was sold long ago, said Cota, while the land on U.S. 441 that stretches as far south as Wolf Branch Road remained undeveloped for many years.
The area is expected to attract more businesses because of the extension of SR 429 into Mount Dora. City officials, who hope it will attract high tech industry and other commercial development, are dubbing the entire area an "Innovation District."
U.S. 441 is also planned for widening through the area. Glenn Tyre & Associates was listing agent in the transaction.
Florida Hospital Waterman has been on a development-planning tear lately. It has added to its original 111.56–acre campus in Tavares another 42 acres, and submitted updates to its master plan this past summer to integrate the new acquisitions and make plans for its land bank.
Plans filed with the City of Tavares would create a medical/health care oriented development anchored by the hospital, with an outer loop that would allow typical healthcare-related businesses, including medical offices, assisted living homes and hospice.
As for Cota, he is excited about whatever may be built on his family's former 10.5 acres.
"I can't wait until they are clearing land up there," he said.
Cota expects whatever is built there will help him sell the other part of the remaining adjacent parcel, about 13 acres at U.S. 441 near Wolf Branch Road.