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GlobeSt.com EXCLUSIVE: Lake Hart Land Sold for $1B Mixed-Use Project Near Disney

ORLANDO-Regional Development/Lake Hart LLC of Orlando pays locally based Daryl M. Carter, trustee, Carter-Lake Hart Land Trust, $7.25 million cash for three parcels on the south side of Moss Park Road. The venture has been in the works for 10 years.

By Alex Finkelstein | Updated on November 05, 2002

ORLANDO-Ten years on the drawing boards, an estimated $1 billion, 817-unit multifamily venture with 820,580 sf of industrial and 261,000 sf of retail/commercial is nearing fruition.

Regional Development/Lake Hart LLC of Orlando has purchased a three-parcel, 174-acre tract on the south side of Moss Park Road in the commercially hot Lake Hart hub for $7.25 million cash or $41,667 per acre (96 cents per sf). The Lake Hart PD site is about 15 miles west of the 30,000-acre Walt Disney World empire.

The new owners couldn’t be reached at GlobeSt.com’s publication deadline to learn of a ground-breaking date. But land brokers familiar with the south Orlando market tell GlobeSt.com actual development will probably start in early 2005.

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