More Lakewood Ranch Development Coming Near Waterside Place

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By Laura Finaldi, Staff Writer, Bradenton Herald Tribune, published September 11, 2019

A new 50-acre mixed-use development called Center Point is planned for a parcel on the south side of University Parkway, according to plans.

More retail is coming to Lakewood Ranch, near the massive Waterside development designed to transform the area south of University Parkway and east of Interstate 75.

A new 50-acre mixed-use development called Center Point is planned for a parcel on the south side of University Parkway between Lakewood Ranch and Business boulevards, according to plans from Sarasota-based real estate agent Casto obtained at the recent International Council of Shopping Centers conference in Orlando.

The development will include a 77,000-square-foot medical office building, a hotel outparcel, 11 retail out parcels, a 30,000-square-foot specialty grocer and 25,000-square-foot inline shops.

The out parcels are scheduled to go online in fall 2020 and the rest is anticipated for fall 2021, according to the plans.

The population within a three-mile radius is 25,459 and is scheduled to be 28,055 within five years, according to the plans. More than 52% of people within a three-mile radius have a college degree, and the average commute time is 23 minutes.

There are 2,236 businesses in the area with 22,647 employees and a total daytime population of 34,158, according to Casto.

The area along University Parkway east of I-75 is rapidly growing. Last September, Publix opened an almost 46,000-square-foot store in the developing University Corner plaza at University Parkway and Lorraine Road. Waterside in Lakewood Ranch will feature more than 5,000 homes in 12 neighborhoods, and the 36-acre Waterside Place development is scheduled to debut in the fourth quarter of next year.

Center Point will also be near Lakewood Ranch Main Street and Lakewood Ranch Town Center, which is anchored by Publix.

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