City selling land in downtown Lakeland for residential development

City selling land in downtown Lakeland for residential development

Saturday, October 21, 2017

Downtown Lakeland

The Lakeland City Commission approved a deal to sell land in the city’s downtown district for the development of 306 apartments and townhouses.

Tampa-based Framework Group is buying  the land for the downtown development from the city for $3.7 million.

The commissioners also agreed  to spend as much as $1.8 million on other incentives for Framework, which include waiving inspection fees and putting a screen on an electric substation near the development site.

Also in connection with the project, Lakeland Electric will put electric power lines underground at an estimated cost of $600,000.

The Tampa developer’s designs for the residential development remain undisclosed but ultimately will require the city commission’s approval.

In the last 12 years, two previous attempts by the city to redevelop the northeast corner of downtown Lakeland have failed. [NewsChief.com] — Mike Seemuth


Source: The Real Deal