LADY LAKE — The Town Commission has approved plans for the 12,628 square-foot Teague Plaza, with commercial space and a Darrell’s Diner on the first floor and apartments on the second.
The commission approved the plan on May 6 for the property at County Road 25, Teague Trail, just north of the Griffin Avenue intersection. It will be located across the street from the Blue Parrot mobile home park.
Plans call for 3,893 square feet of office space and 1,894 square feet for the restaurant.
Plans also call for six two-bedroom, 973-square-foot apartments. There will be 62 parking spaces on 1.6 acres.
The plan was initially approved in 2018 but had to be resubmitted because it did not meet a deadline the following year.
“We were all approved pre-pandemic,” said Lawrence Breech, owner of Teague Plaza LLC.
He said a bank “low-balled” the $5 million investment, so he hit the pause button.
“I let it go too long. We’re moving now,” he said. “Dinkins Construction is chomping at the bit.”
He predicts workers will begin moving dirt in about a month.
“We’re in the restaurant business,” he said of the chain out of Ocala. In fact, he built a similar plaza in Ocala in 2010.
The idea of including apartments helps offset the growing cost of construction, he said.
He said a dialysis center has expressed an interest in leasing out the office space.
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