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HAINES CITY, FL-First called Victor Posner Town Center, then Posner City Center and now Posner Park, the $500 million mixed-use venture broke ground today at Baseball City, the former spring training camp site of the Kansas City Royals, about 60 miles southwest of Downtown Orlando.

Boardwalk Land Development Co., a subsidiary of Miami Beach-based Victor Posner Enterprises, plans one of the largest commercial undertakings attempted in Central Florida in the last five years–a 365-acre community that will house 2.5 million sf of retail, commercial and business park development; 2,600 hotel rooms; and 1,991 apartments, townhomes and single-family residences.

The first of three phases will have 1.3 million sf of retail, commercial and business park space; 626 hotel rooms; and 268 residential units, according to preliminary plans filed with the Central Florida Regional Planning Council. The entire venture is tentatively scheduled for completion in 2020.

The project has been planned since early 2001 when Victor Posner Enterprises bought the 365 acres from Anheuser-Busch at an estimated $100,000 per acre, or $36.5 million, Polk County land brokers familiar with local land prices at the time, tell GlobeSt.com.

Victor Posner Enterprises was founded by Victor Posner, the much-publicized corporate raider of the 1970s and 1980s, who died at 83 on Feb. 11, 2002 at his Miami Beach home. Brenda Nestor, a longtime business associate and officer in Posner companies, chairs Victor Posner Enterprises.

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