Lakeland Growth Making History

[bobliocatt]

By Diane Lacey Allen

The Ledger

LAKELAND -- Warm winters, low interest rates and families with money to build have created Lakeland's second real estate boom.

The recent building spike that began in 2001 now includes 25 developments in the pipeline -- construction that will put almost 4,400 single-family homes and another 2,400 multifamily dwellings within the city limits.

"It's a milestone in terms of Lakeland growth," said Jim Studiale, the city's director of community development, at the Lakeland City Commission's Lakeland Center retreat Tuesday.

Studiale said the projected influx means Lakeland's population could top 100,000 by the end of the decade.

"Lakeland historically has not been like Florida," he said. "It grew slowly through the '50s, '60s and '70s. It didn't grow like Fort Lauderdale or Tampa during those days or, for that matter, just about the rest of the state.

"Lakeland was kind of left behind."

Full article, click on link:

http://www.theledger.com/apps/pbcs.dll/art.../504270355/1004

[bobliocatt]

For rendering, click on link

http://www.theledger.com/apps/pbcs.dll/art.../504290386/1039

Building Will Add 14 Homes to Downtown Lakeland

By Rachel Pleasant

The Ledger

LAKELAND -- Following in the wake of Lake Mirror Tower and Ville Sogni dei Cigni, downtown Lakeland is poised for another major residential project.

Lofts on the Park, a 24,000-square-foot, five-story project, is slated for an empty lot at 125 N. Kentucky Ave.

"This is a great project," said Jerry Herring, who is developing Lofts with partners Peter Munson and Frank Drake. "This is the most exciting thing I've done."

Marcobay Construction will begin work shortly and Herring said the building should be finished and occupied by the first quarter of 2006.

The first floor of the Lofts building will be occupied by a 4,600-square-foot restaurant.

Herring wouldn't disclose what restaurant is interested in the spot but called it a "Pan-Asian bistro."

The second and third floors of the building will be divided into eight apartments that will be 850 square feet to 950 square feet.

The fourth and fifth levels will be divided into six two-story townhouses that will be between 1,300 square feet and 1,600 square feet each.

Unlike units at Lake Mirror Tower, the Lofts will be sold, not leased.

Herring said a lot of the details are still being worked out, but he expects the smaller units will sell for about $160,000 and the larger units should be less than $300,000.

"You buy these," Herring said. "That creates stability."

For full article, click on link:

http://www.theledger.com/apps/pbcs.dll/art.../504290386/1039

[bobliocatt]

More lofts on the way

Published Thursday, May 12, 2005

THE INSIDER

Lofty Goals

If you didn't get your deposit in fast enough to snatch up one of the 14 homes being built at Lofts on the Park in downtown Lakeland, not to worry. Developer Jerry Herring said he and his partners are already working on a second phase. That phase would have twice as many units, with great views. Herring could not disclose the location yet. If the positive response to the concept continues, there could even be a third phase.

-- Mary Toothman

http://www.theledger.com/apps/pbcs.dll/art.../505120368/1178

[Florida]

That building has that same "curb appeal" as the hotel going up on the corner of Gaines and RR. I like it!

[Aporkalypse]

I read the other day where Lakeland now has the lowest home prices in the state thanks to a boom over the last few years in coastal real estate. I think Lakeland will be the boon of a lot of relocations and will experience significant growth because of this.

[bobliocatt]

^Yes, that and the fact that its centrally located in the state, between Tampa and Orlando. There's several reasons why companies like Publix, State Farm, GEICO, Minute Maid, Walmart, Lowe's, Home Depot, JCPenney, Advance Auto Parts, Ford Motor Company, Cargill and Commercial Carrier operate large regional offices, distribution centers and manufacturing facilities in the Lakeland area. Low housing costs, a centralized location and excellent rail & port access are a couple of them.

[Florida]

looking for great things to come out of Lakeland.