A new Lake Nona is on the horizon as more than $1 billion in development is planned during the next 36 months.
Tavistock Development Company has spent the last decade carving a health and wellness destination out of what was once pastureland. The 17-square-mile city is the fastest-growing residential area in the nation, offering top medical research and treatment centers and sports facilities like the USTA National Campus.
Sesh Thakkar, senior managing director of Tavistock, announced the latest bundle of projects during the groundbreaking Monday of KPMG’s new $430 million training center. He said the activity is a sign that others recognize Lake Nona’s potential.
The new development includes the second phase of the Lake Nona Town Center, which includes a six-story office tower, a 200-room hotel and 1 million square feet of office, retail and restaurant space. At full buildout, the Town Center will include more than 80 stores and restaurants, several theaters, a brewery, comedy club, bowling alley and a live performance venue.
A second big project in the works is an 11-acre crystal lagoon at Lake Nona Resort, an expansion of the Lake Nona Golf & Country Club. Imagine a giant swimming pool that resembles a lake and can be used by kayakers, sailors and paddle boarders.
The manmade lagoon will be within walking distance of the USTA Campus and across the street from the KPMG training center. Crystal Lagoons is building the project, which will resemble pools built in travel destinations like Cabo San Lucas and San Alfonso del Mar in Chile. A massive Crystal Lagoon is planned for Dubai in 2020.
The lagoon fits right into Lake Nona’s ecotourism draw. The lagoon is sustainable and eco-friendly, using less water than a typical golf course and 100 times fewer chemicals than traditional pools.
Rob Adams, vice president of residential development for Tavistock Development Company, said the new development will have “a tremendous impact on property values” and is the reason Lake Nona remains the top-selling community in Orlando.
“Lake Nona’s vision is to create this incredible place where people want to live, work, learn and play,” Adams said. “We continue to deliver on this bold vision, creating great neighborhoods with robust programming calendars, new jobs and economic opportunity for the region, and attract great companies and partnerships to Orlando.”
Lake Nona is also expanding its apartment offerings. The community boasts nearly 1,000 rental units including Lake Nona Water Mark, which opened in 2013 with 278 luxury units and Landon House, a 279-unit urban-style community, which opened last year. Ariel Apartments opens this summer with 348 suburban, garden-style apartments.
Next to break ground, “Modern Flats” will feature 157 units across from Town Center’s Landon House. The complex will include Lake Nona’s first micro-apartments at 358 square feet.
More retail development will arrive at Lake Nona Landing and Lake Nona at Creekside, a Publix-anchored shopping center, hotel and outparcel retail and expansion of Lake Nona Village Center.
Additional office space and medical office space, new cell towers and roadway improvements are also included in the $1 billion additions.
The community is also adding two new city parks, East Airfield Park, located near NorthLake Park and Dowden Road just west of Narcoossee Road and South Lake Park in Laureate Park just south of Laureate Boulevard.