Clermont’s Lumberyard District is set to begin its first development phase with a new apartment complex. Atlanta-based PENLER has acquired the 7.2-acre site for $7.4 million and secured a $45.7 million construction loan from Renasant Bank to build the complex, located in downtown Clermont’s mixed-use Lumberyard District, adjacent to Victory Pointe Park and the South Lake Trail.
The Lumberyard District, named for its historical lumber mill, will be developed in two stages. The initial phase includes constructing 262 apartments across four four-story residential buildings, one of which will feature 8,000 square feet of amenities. The second phase will focus on commercial development, including mixed-use and live-work buildings, an additional 130 dwelling units, and a two-story parking garage.
Wolfe & Wallace Properties, the previous landowners, will handle the mass grading of the 12.3-acre district and build the interior roads during the first phase.
PENLER plans to use Hardie Board siding on the apartment exteriors, paying homage to the district’s lumber mill history. They also received a height waiver to allow for 9-foot ceilings and pitched roofs.
A key feature of the development will be “The Sawmill,” a two-story, open-air entertainment complex with arcade games, food, beverages, and music, occupying part of the 55,000 square feet allocated for non-residential use.
Approximately 70% of the apartments will be one-bedroom units, aimed at providing affordable housing for young professionals. The architectural style will be Key West-inspired, reflecting an “Old Florida” aesthetic.
This project follows PENLER’s successful completion of The Grove at Clermont, a 288-unit apartment community, which they sold in 2023. PENLER, founded by former Pollack Shores executives Brian Metzler and Graham Carpenter, has a track record of developing notable projects, including the Steelhouse apartments in downtown Orlando.