Clermont lots first slated for office space now prepped for new apts near hospital

Teresa Burney
GrowthSpotter contributor

An affiliate of Atlanta-based Inland Atlantic Development Corp. is planning to combine two vacant office pads across from South Lake Hospital in Clermont for a new 144-unit Class A apartment complex. 

Located at the southwest corner of Oakley Seaver Drive and Citrus Tower Boulevard, the 9.57-acre site includes two remaining undeveloped pads of what is now an 11-building medical office park. 

Inland Atlantic's plans for a five-story multifamily project with structured parking include a swimming pool and clubroom, among other technology and service amenities. 

Clermont has approved the site plan, and a St. Johns River Water Management District permit application is under review.However Inland president John DiGiovanni declined to discuss the project in detail because the developer has yet to close on the land owned by Belgian Capital Fund LLC.

IADC began as the development division of the former Inland Retail Real Estate Trust (IRRETI), which was sold to DDR in 2007. The executive team of the division chose to continue as a private company that year, while retaining its affiliation with The Inland Group of Companies.

The Inland companies have been ranked as one of the 10 largest shopping center owners in North America, the fifth largest property manager and 16th largest financial intermediary in the United States.  Inland is one of the nation’s largest commercial real estate companies, according to its website.

DiGiovanni told GrowthSpotter the company is working on three multifamily projects in Central Florida. The Lofts at South Lake in Clermont is targeted to professionals, including those in the medical profession who need to be close to the hospital as well as empty nesters, he said. 

The company website describes the project in Clermont as "a skillfully designed Class A residential product." It has another new apartment complex in development in Sanford, called St. Johns Lofts, which will have 175 apartments, and recently completed The Lofts@ Savannah Park in Lake Mary.

Have a tip about Central Florida development? Contact me at teresaburney4@gmail.com or at 352-455-1955. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

Copyright © 2018, GrowthSpotter
71°