TAVARES, FL-Only 30 years ago, citrus land along U.S. 441 north in Lake County, 30 miles northwest of Downtown Orlando, could still be bought for $5,000 an acre or 11 cents per sf. Today, the price is about $261,360 per acre ($6) to $348,480 per acre ($8 per sf).
The six-story, $129 million, 450,000-sf Florida Hospital Waterman, going up in Tavares, FL, a city of 9,000 permanent residents, has escalated land prices to unprecedented levels in this largely agricultural community and county.
“The recession doesn't seem to have slowed down anything around here these days,” Paul Bryan, owner/president, Bryan Properties Inc., Tavares, tells GlobeSt.com. “If anything, the (development) momentum just keeps on going.”
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