Officials Reviewing Proposed $150M Mixed-Use Venture for Clermont

CLERMONT, FL-Karlton Development has caught the attention of local elected city officials and other civic groups because of its size and scope, south Lake County brokers tell GlobeSt.com. The proposed 2,098-acre, mixed-use venture would be comprised of 5,211 single and multifamily homes, 200,000 sf of medical offices, a 320-bed hospital, a 120-bed adult congregate living facility, hotel, an undetermined amount of retail and commercial space and a 15,000-sf civic building,It’s the largest venture of its kind every proposed for the Clermont area, according to local brokers and marketers. On April 25, Lake County commissioners will get their first feedback on the project from Clermont City Council members. The county planning department has already recommended approval and sent preliminary plans to the Florida Department of Community Affairs for a further review.

In its preliminary outline to the city, Kieran J. Kilday of Kilday & Associates in West Palm Beach, representing developer Karl Corp., estimates the development cost of the first phase in the multi-phased enterprise will be $30.67 million.

Area land planners and construction sources who have also looked at the developer’s outline tell GlobeSt.com the estimated hard cost of the entire project will be at least $150 million and could reach $200 million at completion. The developer would like to break ground in 2007, the outline notes. The development site is in an unincorporated area east of Lake Louisa State Park, about 25 miles west of Downtown Orlando.