Sources close to the deal tell GlobeSt.com that the Malik family of Leesburg, FL, headed by Arlene Malik, and McCartney Construction Co. of Gadsden, AL plan to develop Clermont Hillside Terrace into an 87,000-sf, $8 million retail, office and apartment complex that will be built on multi levels on the side of a hill near the entrance to the South Lake County city, 25 miles west of Downtown Orlando.

The joint development team plans to invest $150,000 in landscaping at the site, west of U.S. 27 and south of Brogden Drive, near the Harley-Davidson motorcycle showroom owned by the Malik family. The developers expect to break ground this year after elected officials in Clermont approve their construction permits.

The retail and office component would total 75,000 sf, complemented by 12 apartments, each with 1,000 sf of living area, according to preliminary plans filed with the city. The development partners are negotiating with several high-end retailers to lease space at the venture. Cagan Management Group of Orlando, headed by Isadore Cagan, will manage Clermont Hillside Terrace.