Lowndes Advises Waterman Communities Inc. on $126-million Bond Financing for Retirement Community Expansion in Mount Dora, Fla.
Lowndes represented Waterman Communities Inc. in Lake County’s issuance of $126,340,000 of Retirement Facility Revenue bonds for the development of Lakeside at Waterman Village, a $126-million expansion of the Waterman Village retirement community in Mount Dora, Fla. Located on 27 acres surrounding Lake Margaret on North Donnelly Street, the project will include a total of 183 brand-new residences, consisting of 159 independent living units and 24 memory support units.
Groundbreaking for the expansion project was held in October 2020, with construction expected to be completed by early 2022. The expansion will include several buildings with condo-style homes and single-story villas, as well as a clubhouse with dining venues and fitness areas.
The Lowndes team representing Waterman Communities was led by Real Estate Department Chair Daniel McIntosh. He was assisted by Michael Gibbons (construction). The team will continue to assist with development and construction of the expansion project.