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GlobeSt.com UPDATE: Hospital Creating Market Within Market

TAVARES, FL-The six-story, $129 million, 450,000-sf Florida Hospital Waterman, going up in a city of 9,000 permanent residents 30 miles northwest of Downtown Orlando, is doubling land prices and forcing entrepreneurs to look hard for new developable land.

By Alex Finkelstein | Updated on February 19, 2002

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.

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