Penler bought roughly 12 acres of vacant industrial property at West Minneola Avenue and Lake Drive from Wolfe & Wallace Properties Inc. for $7.4 million. The land will be part of the Lumberyard District of Clermont, west of downtown Orlando. Penler secured a $45.7 million construction loan from Renasant Bank.
The property is on the western edge of Clermont’s downtown, near where the city is revamping its waterfront on Lake Minneola. The Lumberyard District is to include:
- 392 apartments
- a two-story parking garage
- an amenity clubhouse building and pool
- 53,100 square feet of commercial space for a restaurant, retail, office and other related uses
Penler is the builder behind The Grove at Clermont, which opened in 2022.
According to December data from the American Community Survey, Clermont had the second fastest-growing ZIP code in metro Orlando. The city’s population rose 39% from 2019 to 2023, to 25,407.
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