Elected officials in the city of 20,000 permanent residents meet later today at a public session that could disclose the mystery retailer, brokers following the project tell GlobeSt.com.

"At this point, we don't know for sure ourselves who will be entering the market," a Lake County government staffer tells GlobeSt.com on condition of anonymity.

Officials at Westshore Development Group of Tampa, FL, the developer of the 423-acre, mixed-use Lost Lake Reserve, won't comment until the deal is done. Lost Lake Reserve is being developed for 66 acres of commercial and office; 600 apartments; and 508 single-family homes. The site is south of State Road 50 and east of U.S. 27, about 25 miles west of Downtown Orlando.

In a second mystery-oriented recruitment, elected Lake County government officials are dangling a $108,000 economic incentives package at a manufacturing company that potentially could create 30 jobs paying an average $34,000 per year, according to the Lake County Industrial Development Authority.

The incentives would comprise state and local tax exemptions or refunds. The value of the state's incentives package over four years is $90,000. The county has to approve an $18,000 contribution.

Wal-Mart's application for a 250,000-sf super store three years ago at Clermont's biggest intersection--State Road 50 and U.S. 27--was rejected by Clermont city council because of its size. Since then, elected officials have bent the city's 100,000-sf cap regulations on big-box development. SuperTarget is building a 175,000-sf structure; Home Depot will be completing a 95,000-sf center in January.

SuperTarget is expected to hire about 500 employees for its March opening. Home Depot will have about 120 workers at its location.

In an unrelated zoning matter, Clermont officials are also reviewing an annexation proposal by another developer in the planned 225-home expansion at the Legends subdivision. Another annexation proposal is expected to arrive by a shelter developer on 450 acres just east of Clermont.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.