Construction to officially start for Lakeland's new mixed-use development 'Lake Wire'

10 Tampa Bay

The first phase – which includes 300 multifamily residential units and 15,000 square-feet of retail space – is under construction and planned to wrap up in 2024.

LAKELAND, Fla. — A groundbreaking ceremony was held Thursday for Lakeland's new mixed-use development called "Lake Wire."

This milestone event in the heart of downtown Lakeland is adjacent to the city's new privately funded 168-acre Bonnet Springs Park, a news release explains. It also spans 22 acres and includes 630 multifamily residential units and 30,000 square feet of retail space.

The first phase – which includes 300 multifamily residential units and 15,000 square-feet of retail space – is under construction and planned to wrap up in 2024.

According to the release, Lake Wire will be the first major development project after the park's opening in Lakeland's burgeoning Downtown West corridor.

“Carter and Hunt have chosen an optimal time in Lakeland’s growth to bridge downtown Lakeland with Bonnet Springs Park,” Lakeland Mayor Bill Mutz said in a statement. “Their soon-to-be-built mixed-use development will extend Downtown West brilliantly! I join many others as we witness the work transforming the Lake Wire area."

The property will be transformed into a walkable place for visitors with the retail portion welcoming shoppers to enjoy a mix of locally sourced restaurants and businesses.

Prospect Lake Wire is planning on welcoming its first residents by mid-year 2024 with retail leasing expected to start later this year.

“Lake Wire will become a catalyst for future pedestrian-friendly projects that connect downtown Lakeland and the west side in a way that has never been done before,” Jack Murphy, vice president at Carter, said in a statement. “This will be a complete reimagining of a former industrial center to create a new space for the entire Lakeland community, bringing together local retail and dining options and high-end housing to ultimately serve as an economic engine for Bonnet Springs Park.”

Courtney Holland, 10 Tampa Bay