Winter Park-based Peacock Capital has started construction on a new lakefront apartment community near Spring Lake Shopping Plaza in Winter Haven, which has sparked frustration among residents.
Mayor Nathaniel Birdsong requested a presentation to the Winter Haven City Council to clear up the confusion over the approval process for the project.
Residents living near US 17 observed construction activity at the apartment site located at 940 Havendale Blvd. They questioned why there was no public notice about the project, but Eric Labbe, the director of economic opportunity and community investment, said the notification wasn’t required because the property had been zoned for multifamily housing for 25 years.
In 1965, the entire 48-plus-acre site was divided into three phases. The 13-acre multifamily site, which has frontage on Lake Mirror and Spring Lake, changed hands several times before being purchased by Scarecrow Acquisition Group LLC in 2022 for $3 million. Labbe said Peacock received construction permits more than a month ago.
Managing Partner Ken Polsinelli said Peacock is providing 168 units of much-needed workforce housing to the city.
“Winter Haven is an attractive place for many reasons, one being the access to water and the chain of lakes. We feel good that we will be able to provide waterfront living as an amenity and give access to the city’s workforce population,” Polsinelli said. “We want to give people of various economic backgrounds the opportunity to take advantage of living in Winter Haven and all the benefits the city offers. Also, giving housing options to essential workers who make their living in Winter Haven, so they don’t have to live somewhere else.”
In 1984, Phase One Spring Lake Shopping Plaza was zoned for Business Tourist. The 13 acres were zoned for Planned Development in 1985; it was to be developed with 120 apartments and eight single-family homes. Then, in 2006, the City Commission amended the zoning to provide up to 180 apartments, eliminating the single-family homes.
With zoning being in place since 2006, no additional public meetings were required, Labbe said.
“They met all code requirements and had all outside agency permits issued to begin construction,” he added.
The site plan was approved in September 2025, and approved site plans are valid for 18 months.
There will be one entrance to the apartments through the lower side of the plaza. The apartment complex is less than two miles away from Winter Haven Hospital and Polk State College.
Polsinelli believes this site is appropriate for its use and attractive to potential residents. Peacock Capital typically retains the projects as long-term investments and manages them in-house.
“When you look at housing, you want to be close to major employers. This is a downtown location, which checks that off, and you want to be close to major transportation, which it is,” he added. “We want to maintain our prices and not raise rents like other apartments do once they get new ownership.”
The apartment complex will consist of seven buildings, each with 24 apartments, and will include an on-site clubhouse and pool, outdoor recreation spaces, a community kitchen and a dog park. The site provides 257 parking spaces and 29 bike parking spaces, exceeding the requirement by three.
Spring Lake Shopping Plaza includes CMX Grand 10 Cinemas, Walgreens, Dollar Tree, Checkers, and Just Move fitness center.
Peacock Capital is currently active in Gainesville, Plant City, Leesburg, and Orange County. This will be its first entry into the East Polk submarket, but Polsinelli said they are already looking at a second project here.
“Polk County has had tremendous population and job growth, and we mainly focus on workforce housing. When we are looking at a location, we have a 50-year plan in mind, we want it to be economically viable and a meaningful part of the community for a long time to come,” Polsinelli said. “Winter Haven has had large growth in single-family homes, but we need all sorts of housing. The city has been great to work with and a positive experience, unlike other places we have passed on due to bureaucratic delays.”
Also in Winter Haven, developer Ian Prince has completed the horizontal development of a Lake Deer townhouse subdivision with 304 units and has a purchase contract from a land banker. The property spans 69.9 acres and is situated just off Recker Highway. It is located between the south shore of Lake Deer and the CSX Railway. The entrance to the development will be off 35th Street.
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