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Plans progress for retail, medical office in phase 2 of Horizon West's Lakeside Village

Highlighted in blue is the two-acre parcel owned by Dr. Niral Patel, to be developed into professional and medical offices. The green-shaded property to its north is the remainder of Lakeside Village Phase 2 now in varied stages of development.
Highlighted in blue is the two-acre parcel owned by Dr. Niral Patel, to be developed into professional and medical offices. The green-shaded property to its north is the remainder of Lakeside Village Phase 2 now in varied stages of development. (Orange County Property Appraiser)

Boyd Development and local physician Niral Patel are moving through planning for the buildout of the second phase of Lakeside Village Center in Horizon West, with 21,000 square feet of professional/medical office space and new retail outparcels under review by Orange County.

Located in the 7700 block of Winter Garden Vineland Road in Horizon West, Lakeside Village's Phase 1 was developed over the past five years as a joint venture by Ram Real Estate and Boyd Development with a Publix grocery anchor, Chase Bank, 7-Eleven, McDonald's and Windermere Medical Center.

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Phase 2 now involves about 16.8 acres across six parcels directly south of the Publix, with the properties fronting Silverlake Park Drive and Village Lake Road/Reams Road. Boyd's Lakeside II Partners LLC acquired a portion of the Phase 2 property in June 2014 from homebuilder Ashton Woods for $1.537 million.

Dr. Patel was one of Boyd's early partners on Lakeside Village's first phase by leasing land there for his Windermere Medical Center, which offers internal medicine, pediatric care, chiropractic services and a walk-in clinic.

Patel's vision was to develop more property in Lakeside Village for medical specialty services, which led him to buy two acres of that Ashton Woods land from Boyd in June 2014 for $1.8 million, according to county sale records.

"When I saw this land was available, I knew I wanted it to provide the medical services I envision for this community. There is a lot of other medical development happening in Horizon West, but it's all hospital-based ownership," Patel said.

"There is no privately owned medical offices in this area except for myself," he continued. "I want to give the community a private option, and in this Phase 2 space we can deliver services to complement our Medical Center, like specialists in cardiology, pulmonary and similar."

To be located on the northeast corner of Silverlake Park Drive and Reams Road, Patel's professional center will consist of three 7,000-square-foot, single-story buildings, available for buildout and lease by medical, legal, financial services and similar firms.

Randall Gill of Coldwell Banker is leasing broker for the property, while the project's Development Plan and Capacity Emcumberence Letter are being seen through county approval by GL Summitt Engineering. Tom Bush is the project's architect.

Patel expects to hire a general contractor within the next two to three months after his DP is fully approved. Building permit applications would follow, details on space availablity for lease would then be finalized and a lender will be sought for a construction loan. He hopes to break ground on the property late this year.

Other parcels making up Lakeside Village Phase 2 are further along in development. The entire Phase 2 property plat was recorded in December 2015, with the first lot developed and opened in the fourth quarter as a Bright Horizons Child Care.

Boyd Development sold one acre in December for $850,000 to Village Lake Retail LLC, which is building 10,000 square feet of retail space to be dedicated primarily to a fitness center, with Scherer Construction hired as general contractor.

An LLC affiliate of My Neighborhood Self Storage bought a 2.2-acre parcel in February 2015 from Boyd; its new facility opened earlier this year.

Within the 8.4-acre parcel that makes up most of Lakeside Village's Phase 2 developable area, Boyd is starting to lease a 10,000-square-foot multi-tenant building that's being constructed along Winter Garden Vineland Road. The developer is also negotiating a land lease for a new Sweetwater Car Wash.

A DP is also under review for a 3,746-square-foot Bank of America branch on Boyd's property, while adjacent to that is a Taco Bell restaurant currently under construction. Burkett Engineering is civil engineer on the bank.

Have a tip about Central Florida development? Contact me at bmoser@growthspotter.com, (407) 420-5685 or @bobmoser333. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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