In a strategic move poised to invigorate economic development in Hardee County, The Development Group has announced the potential sale of property located at 897 S. 6th Avenue, Wauchula. The future transaction, approved during the May board meeting of the Hardee County Industrial Development Authority (IDA), signals a significant milestone for the region’s commercial landscape.
The Hardee County IDA, in alignment with its mission to inspire economic growth, accepted a letter of intent to sell the property for $1.7 million to S&L Properties LLC, a company with an impressive portfolio spanning nearly 100 Culver’s franchise locations across five states. The arrival of Culver’s franchise projections indicates the creation of approximately 60 new jobs.
The property’s current tenant, Debut Development, will be relocated to the Hardee County Business Park, ensuring continuity for its operations. Debut Development, a vital contributor to the local economy, currently employs 30 individuals and has six available job openings.
The IDA initially acquired the property for a sum of $498,590, inclusive of all associated expenditures such as surveys. To modify and renovate the building for manufacturing use, the IDA invested an additional $1.3 million into the building. With commitment to leverage resources for community prosperity, of the $1.8 Million that the IDA invested, $1.4 Million was financed through grants secured by the IDA.
Beyond the financial transactions, the ripple effects of this project extend far and wide, resonating with the broader community. By repurposing a previously vacant property along the Highway 17 corridor, The Development Group has created over 50 careers, maintained commercial opportunities, and contributed to the tax base.
The sale of the property at 897 S. 6th Avenue, Wauchula, represents more than a mere transaction; it symbolizes a strategic partnership between forward-thinking entities committed to nurturing economic vitality. As Hardee County prepares to welcome Culver’s franchise, it does so with a sense of anticipation and excitement, the opening of the new Culvers location is expected to take over a year. The wait will be worth it!
