Index Investment Group and its local Lakeland partners have received unanimous council approval from the City of Lakeland to develop a mixed-use community on the excess land surrounding the Ledger building. The team is currently working on the site plan and design concept to develop 1,500 multi-family units as well as 900,000 square feet of commercial space including the existing commercial buildings. The 17-acre parcel will be transformed into the city's gateway to Lakeland Downtown West.
LAKELAND, Fla., Aug. 17, 2022 /PRNewswire-PRWeb/ -- Index Investment Group and its local Lakeland partners have received unanimous council approval from the City of Lakeland to develop a mixed-use community on the excess land surrounding the Ledger building. The team is currently working on the site plan and design concept to develop 1,500 multi-family units as well as 900,000 square feet of commercial space including the existing commercial buildings. The 17-acre parcel will be transformed into the city's gateway to Lakeland Downtown West.
The property is strategically located at 300 W Lime Street in Lakeland and is slated to significantly expand upon the growth of Lakeland by creating apartments, retail, and commercial operations to service the area's population. The project is aiming to meet some of the high demand for residences from growing companies in the area and future residents looking to establish roots in the City of Lakeland. The project was suggested by Commissioner Phillip Walker to be named "Downtown West" which the development team will strongly consider as the project name going forward. The property has prominent road frontage to Sikes Boulevard and Lime Street, just to the South of the major Bonnet Springs Park development which will attract visitors from all over Florida and aims to educate on the benefits of various Florida native flora and fauna, promote green living and understanding societies impact on the environment.
"In recent years Polk County has shown to be the area of highest growth in Florida and we are honored to receive the opportunity to move ahead with helping meet the demands of this rapidly growing city," said Bjarne Borg, CEO and Executive Chairman of Index Investment Group. "We look forward to the next steps in finalizing the concept design and getting the site plan approved and constructed. It has been a true pleasure working with the city to get to this point."
The highly anticipated project formerly owned by The Ledger Media Group is being developed in partnership with Jeff Donalson of Thomas Capital Partners and the ArcTrust team with architectural drawings and renderings provided by The Lunz Group.
"Thomas Capital is committed to connecting the community to our projects and as the local partner we cannot wait to show Lakeland our vision for Downtown West. We are grateful for our industry-leading partner, Index Investment Group, to lead the way on this project," said Jeff Donalson, CEO and Owner of Thomas Capital Partners.
Index has made numerous significant investments in multi-family rental communities, commercial, industrial/logistics as well as hospitality properties along the East Coast of the United States. The Jupiter-based real estate investment company has ongoing and completed twenty-nine developments throughout North America with a focus on Florida since 2011, including nearly 3 million square feet of commercial-industrial properties in the Upstate New York market.
About Index Investment Group
Index Investment Group is a dynamic real estate investment group based in Jupiter, Florida that has major investment initiatives throughout North America including apartment communities, industrial/logistics, office, hospitality, and senior living communities. Index Investment Group develops intelligently designed properties throughout the East Coast of United States with a focus on Florida and contributes to the community through valuable and meaningful investments. For more information about Index Investment Group, visit http://www.indexinvest.com.
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Media Contact
Joacim Borg, Index Investment Group, +1 (561) 571-0367, [email protected]
SOURCE Index Investment Group
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