Apopka-based V3 Commercial is prepping for construction of the 20-acre Haven Square development at a key Winter Haven intersection after redesigning the project to focus on medical offices.
The real estate firm is contracted to buy the site, located at the southwest corner of U.S. 17 and Cypress Gardens Boulevard, across from the Winter Haven Chain of Lakes Athletic Complex. It was previously slated for a shopping center, emphasizing big box retail, but that has mostly been replaced with medical offices.
“Everyone in this environment has learned to adjust to the new market conditions,” V3 CEO Trey Vick said. “We’ve always liked this real estate — it’s a gateway to Winter Haven. It’s at a major intersection, right across from a new multimillion-dollar fieldhouse. It’s exciting for us.”
The developer has submitted construction plans to Southwest Florida Water Management District for a mixed-use commercial subdivision composed of six lots. The largest, Lot A, would feature a trio of medical office buildings ranging in size from around 13,500 square feet to 18,500 square feet and 201 parking spaces. A fourth, smaller medical office building is planned on Lot F, at the northern tip of the project.
The conceptual plan by VHB also creates lots for two stand-alone retail pads for a pair of 8,380-square-foot buildings. Three outparcels fronting on U.S. 17 are shown with a potential sit-down restaurant, a bank and a fast-food restaurant. At buildout, the project would comprise a total of 878,691 square feet with a maximum building height of four stories.
Winter Haven Planning Manager Sean Byers said the city is also reviewing the subdivision site plan for the horizontal work. “We don’t know who the end user is. They’ve just submitted building pads,” he said. “It doesn’t need to go to Planning Commission unless they decide to plat the project.”
Vick said V3 has seen strong interest for both the medical and commercial space and will be announcing anchors in about 30 days. He expects to file building permits in about three months and will go vertical in the first quarter of 2022.
The property is owned by Alabama-based Vigoro Acquisition Corp. and once was the site of a fertilizer processing facility. The Environmental Protection Agency designated it as a brownfield. Environmental consultant Terracon noted a “potential petroleum odor” during its geotechnical examination of the site and is recommending a plan for remediations and clean up.
“We’re in with FDEP to have the site rehabilitation agreement approved,” Vick said. “That would make it tax credit eligible.”
He said the land clearing, earthwork and final demolition could be underway in 60 days.