9591 SR 82 - Lazy Springs

LSI Companies is pleased to present Lazy Springs, a premium vacant land parcel positioned in a significant growth path and urban sprawl of Hendry County. Lazy Springs is a 374± acre vacant land property located along State Road 82 in Hendry County, FL. The site was previously operated as a mining operation and was then zoned and converted to a family recreational park in 2010. The Recreational Park remains active and currently open. The property has a Future Land Use designation governed by Southwest Hendry Sector Plan, which has outlined and identified allowable uses and intensities under various land uses. Per the site plan, the property can be developed with 618 multi-family units and 88 single-family units, along with 70,000 square feet of retail and 40,000 square feet of office. The proposed density ordinance for the site allows conversion of the entitlements to alternative uses as long as the traffic impacts are maintained. Converting the 618 multi-family units to single-family results in an overall increase of 350 single-family units to a total of 437. The neighborhood district required 10% of the product to be attached single-family and is estimated to be 132 net developable acres. Assuming the density of 3 units to the acre for single-family, this area can accommodate 396 units. Converting the remaining 41 residential units to multi-family allows 72 multi-family units to be blended within the 25 acres of mixed land area. Of the 375± acres, 176± is lake and 42 is preservation leaving 157 net developable acres with 25 acres identified for a mix of residential and commercial. As such, the site is currently in a transition stage where excavation could be continued in anticipation of preparing the site for future residential and commercial development. Municipal utilities are not located in this vicinity. Instead, this property will be serviced via well water systems with an onsite package plant. Therefore, impact fees may not be applicable for this project. The property’s proximity to Lee County makes it a prime candidate for future residential development. As such, the property is well-positioned to be one of the first to absorb new growth in Hendry County. Lazy Springs presents builders and investors with a rare opportunity to purchase a large vacant land tract in a high-growth corridor with residential entitlements already in place.