Hyde Park is coming to Lakeland. Well, sort of. Multi-story, multi-family complexes are popping up rapidly around Lake Morton. The vision? To create a Hyde Park-like residential area near downtown Lakeland. The Garden District exists within the East Lake Morton Historic District and boasts close proximity to downtown while remaining a quiet neighborhood.
So, what will make this like Hyde Park? To start, increased availability of apartments, particularly 1-bedroom options. Let’s take a look:
- The Gardens Apartments (325 S. Lake Ave.) opened its western building’s doors in April, and is already fully leased. Their eastern building will be completed this July, with hopes to start welcoming tenants shortly thereafter. This 3-story, 90-unit complex, developed by Broadway Real Estate Services, is on the corner of Lake Ave. and Lime St.
- A 22-unit complex (923 E. Lemon St.) has broken ground. The 1-acre build by CODA Development will become 5 2-story complexes. Prospective tenants can choose from 1-bedroom and 2-bedroom options. The project is estimated to be ringing in at $2.8 million.
- A 32-unit complex (721 + 725 E. Orange St.), also by CODA Development, is slated to be the Garden District’s next step in achieving its aspirations. CODA has been given the go-ahead to start planning for the 4 3-story buildings.
While the vision for a Hyde Park-esque area in downtown Lakeland is very much alive, the project will face challenges, such as a shortage of vacant land in the East Lake Morton Historic District, demolition restrictions on historic buildings, and the increasing cost of lumber. Developers have suggested increased incentives, such as a waiver of impact fees, to offset the increased financial burden of developing downtown.
So, are you ready for it?
Poll
