The Lakeland City Commission approved a deal to sell land in the city’s downtown district for the development of 306 apartments and townhouses.
Tampa-based Framework Group is buying the land for the downtown development from the city for $3.7 million.
The commissioners also agreed to spend as much as $1.8 million on other incentives for Framework, which include waiving inspection fees and putting a screen on an electric substation near the development site.
Also in connection with the project, Lakeland Electric will put electric power lines underground at an estimated cost of $600,000.
The Tampa developer’s designs for the residential development remain undisclosed but ultimately will require the city commission’s approval.