Lake Wire Multifamily Development Site
Land | 1.58 acres
Marketing description
This offering consists of a 1.6-acre planned 90-unit urban infill multifamily development project ideally located in Downtown Lakeland with frontage on Lake Wire.
The site is strategically located on Peachtree St., directly south of George Jenkins Blvd. and immediately north of Lake Wire. Residents will enjoy walkability to Freedom Park, a large greenspace, and a nearly mile-long sidewalk around Lake Wire. The property is also within walking distance of the new 180-acre Bonnet Springs Park, a mixed-use development with a children's museum, botanical gardens, and more.
The proposed 4-story building features one and two-bedroom units averaging 826 square feet, many with direct Lake Wire views. The project includes roughly 75,000 net rentable residential square feet and 10,000 square feet of common area space, with significant resident amenities.
The site is in a Qualified Opportunity Zone (QOZ), offering potential tax deferral benefits for capital gains invested through a Qualified Opportunity Fund (QOF) until December 31, 2026.
Location Description
Lake Wire & Recreation: Literally steps away from the scenic Lake Wire and its nearly mile-long perimeter trail. Residents can enjoy morning jogs or sunset views over the water just outside their door.
Bonnet Springs Park: Within easy walking distance to the world-class 180-acre Bonnet Springs Park, featuring botanical gardens, the Florida Children’s Museum, and extensive nature trails.
Downtown Core: A short stroll to the vibrant downtown district, home to The Joinery (Food Hall), Lake Mirror, Hollis Garden, and a curated selection of coffee shops, craft breweries, and fine dining.
Economic Hub: Strategically located near major employment drivers including the Publix IT Campus, Lakeland Regional Health, and the RP Funding Center.
For more information please visit:
https://land.saundersrealestate.com/land-for-sale/321-west-peachtree-street-lakeland-sale/
Investment highlights
Zoning: Ideally suited for high-density multifamily (MF-22 zoning)
Opportunity Zone: Located within a Qualified Opportunity Zone, offering significant federal tax incentives for long-term investors.
Impact Fee & Tax Exemptions: Potentially eligible for City of Lakeland core improvement incentives and impact fee waivers designed to stimulate urban residential growth. Incremental tax financing options available from City after obtaining C.O.
Connectivity: Immediate access to George Jenkins Blvd and US-98, providing a direct corridor to I-4, linking the site to both Tampa and Orlando in under 45 minutes.
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