Penler has acquired approximately 12 acres of vacant industrial land located at the intersection of West Minneola Avenue and Lake Drive in Clermont, Florida. The property, purchased for $7.4 million from Wolfe & Wallace Properties Inc., will be part of the new Lumberyard District development, situated just west of downtown Orlando. To support the project, Penler secured a $45.7 million construction loan from Renasant Bank.
The site is positioned on the western edge of Clermont’s downtown, near the city’s revitalized waterfront along Lake Minneola. The Lumberyard District is planned to include the following components:
– 392 residential apartments
– A two-story parking garage
– An amenity clubhouse and pool
– 53,100 square feet of commercial space, which will accommodate a mix of restaurant, retail, office, and related business uses
Penler is also the developer behind The Grove at Clermont, a residential community that opened in 2022.
Clermont is experiencing rapid growth. According to the American Community Survey data from December, the city’s ZIP code ranked as the second fastest-growing in the Orlando metropolitan area. From 2019 to 2023, Clermont’s population surged by 39%, reaching a total of 25,407 residents.
