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New development to break ground near Lake Wire

Atlanta-based real estate company Carter has acquired 22 acres of land on Lake Wire in West Downtown Lakeland for a new mixed-use development near the RP Funding Center.

A rendering of the Prospect Lake Wire mixed-use development

We’re already dreaming about what this development will offer.

Rendering provided by Carter USA

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Disclaimer: This article has been updated since its original publishing in November of 2021 to reflect new information.

A retail and housing development is coming to 608 Prospect St. — the old site of Florida Tile — soon. Atlanta-based real estate company Carter, which proposed the development in fall 2021 and officially purchased the 22-acre site west of Lake Wire in October 2022, broke ground on Thursday, Feb. 9, 2023.

The new mixed-use development adjacent to Bonnet Springs Park will feature apartments, retail shops, and restaurants.

Developers and city officials with shovels and hard hats at the Prospect Lake Wire groundbreaking

Developers and city officials at the Prospect Lake Wire groundbreaking in February 2023

Photo by LALtoday

Once all permits are obtained and objectives go to plan, the project will be completed in two phases, broken down into sub-phases.

Phase 1A

Two 7,500-sqft buildings facing Kathleen Road will go up for restaurants and retail shops. Developers aim to attract the greater Lakeland communitynot just residents — to the amenities. At the project’s inception, Jon Bucklew, founder of The Joinery and its upcoming expansion, The Shed, was consulted to gauge public interest in various dining options.

Phase 1B

Four-story buildings housing 300 apartments measuring roughly 915-sqft each will be built on 10.33 acres of land near George Jenkins Boulevard.

Phase 2

Two more buildings — four and five stories — will house 330 apartments above a 15,000-sqft stretch of retail space on Sikes Boulevard.


While an exact timeline for the project is still TBA, we’re passing the time by daydreaming about its future. We asked our followers what they’d like to see at the new development. Here are a few requests:

  • “Would be great if they would reserve some spots for local small business to develop. Then it’s not just chain restaurants/big name retailers taking over the whole space” — @matthewlowry711
  • “Trader Joe’s” — @itsbrandie
  • “Crumbl Cookie” — @kellirentscentralfl
  • “Noble Crust” — @hunterjbon3
  • “PF Changs or Del Friscos” — @pam_norrisbouchard
  • "@blazepizza” — @vndrevs_ and @krystalhuot_

Put on your developer hat and tell us what you’d like to see in the new space, from retail and dining to grocery and entertainment.