With site work underway on portions of Boyd Development's 150-acre Hamlin lakefront town center in Horizon West, the company paid $4.6 million this week to add a valuable 19 acres to its property lineup west of SR 429, part of a second phase of Hamlin retail still two years away or more, president Scott T. Boyd confirmed for GrowthSpotter.
Boyd's group now has 154.7 acres across three semi-contiguous parcels that lie directly west of SR 429 in west Orange County, straddling either side of New Independence Parkway right as it intersects with Avalon Road (C.R. 545).
The 19-acre parcel acquired this week completes that trio, bought from a land trust managed by Daryl R. Carter of Maury L. Carter & Associates, who paid $2.85 million for it in April 2014.
The 154.7 total acres owned west of SR 429 will eventually augment the more than 213 acres Boyd's group owns directly east of SR 429, which boasts frontage on either side of New Independence Parkway. That is where they've focused 150 acres for 1 million-plus square feet of commercial space in Hamlin's town center, the largest town center project in Central Florida.
"This (19-acre) parcel now gives us all the retail land at that interchange, and was the key final piece to acquire for the continuity we want to achieve with Hamlin's landscaping and design," Boyd said Wednesday. "Work is underway first on Hamlin's retail development on the east side (of SR 429), and work on this western property is likely two years away."
CONSTRUCTION STARTING SOON
Boyd Development should start construction this Fall on the first retail piece of Hamlin town center, a 54,000-square-foot Publix that will anchor a 200,000-square-foot neighborhood shopping center.
A 12-screen Cinépolis cinema could also go under development late this year as an anchor for Hamlin's lifestyle center, to be surrounded by waterfront restaurants, a boardwalk, outdoor event venues and park space along Lake Hancock.
Ground should break on a 191,022-square-foot Walmart Supercenter in late November that anchors a 400,000-square-foot retail development covering 50 acres on Hamlin's north end, which fronts SR 429.
Boyd's group is in negotiations with six to eight restaurant tenants, two to three junior anchors and six to seven other retailers within the Walmart- and Publix-anchored developments collectively.
The anchors and 12 plus additional tenants will be open and operating by Fall 2016, Kevin Merideth, director of sales/marketing and acquisitions, told GrowthSpotter in mid-September.