Affiliates of Boyd Development paid more than $6.91 million on July 18 for 31 upland acres northeast of its Hamlin Town Center, where the properties will be split to accommodate a proton therapy center announced last September, medical office buildings and a second phase to apartments now being built across the street.
Located in the 15000 block of New Independence Parkway on its northern side, the sites lie directly north of the 150-acre Hamlin Town Center now under construction. It's part of the 640-acre, $1 billion-planned community of Hamlin in Horizon West where 1,700 single- and multi-family homes will cover a 1.75-mile stretch of the Western Beltway.
Boyd affiliate Lakewalk at Hamlin Phase 2 LLC paid more than $3.66 million for 14 of the upland acres, to serve as a future 250-unit second phase to the initial 316-unit phase of Lakewalk at Hamlin apartments, which are under construction now with delivery expected late this year, partner Ken Kupp told GrowthSpotter.
Located at 15950 New Independence Parkway south of the property bought this week, Greystar will serve as property manager on Lakewalk at Hamlin, which Boyd is developing and will own with private equity partners.
And Provision Proton Center at Hamlin LLC spent more than $3.25 million for 17 upland acres on the western side of the property, neighboring future commercial. It's a joint venture of Provision Healthcare and Hamlin Retail Partners West, an affiliate of Boyd Development and Orlando-based Schrimsher Properties of Central Florida.
The Provision Cares Proton Therapy Center is projected for 30,000 square feet over two stories, with a series of medical office buildings that could be developed around it, Kupp said.
"We're in design on both of those projects now. The hope is to have site work started on the Proton Therapy Center before year's end," he said. "We have not submitted a PSP or (Development) Plans for the properties yet. The second-phase multifamily is further out, we won't start construction on that for a year or so."
Up to three medical office buildings could be built in phases around the Proton Therapy Center, with one a candidate to be built concurrently with the Provision building, Kupp said.
Those buildings would likely offer 40,000 to 70,000 square feet across two to three stories. Boyd will decide in the coming months when the first medical office project may be included, with pre-lease success a factor.
The Proton Therapy Center is expected to be the catalyst for a 17-acre medical campus at Hamlin Town Center, Kupp said.
The seller of both properties this week were David H. Daniels and Susan D. Shaw, out of Brandon, Florida, and their affiliate SD New Independence Holdings.
Related to the deals, Boyd's Provision Proton Center entity sourced a $1.44 million balloon promissory note from the seller, and the Lakewalk at Hamlin Phase 2 buyer took a $1.65 million loan.
Directly south of the newly-acquired properties, vertical construction should start in the next 30 days on the main portion of Hamlin Town Center, said Kupp, a lifestyle center to be anchored by a new 12-screen Cinepolis movie theater surrounded by waterfront restaurants, outdoor event venues and park space along Lake Hancock.
On the southwest quadrant of the New Independence Parkway - Hamlin Groves Trail intersection, construction on a 54,000-square-foot Publix should be finished in late August, said Kupp, though an opening date has not been confirmed. That grocer will anchor a 200,000-square-foot neighborhood shopping center.
And northeast of that intersection, mass grading is underway on roughly 20 gross acres that will serve inline retail and five outparcels, one of which has been confirmed for Wendy's.
A 400,000-square-foot retail center anchored by a Walmart Supercenter is also being built on 50 acres that front S.R. 429, north of New Independence Parkway.