WELLINGTON, Fla. - The Village of Wellington is looking to cash in on its most prized piece of land.
Now they're looking to develop the K-Park property and proposals are coming in with plans for the site off Stribling Way and State Road 7.
Currently, the village is renting to a farming company and small organic farming is happening on the property.
Considering it's so close to the Wellington Green Mall and dozens of surrounding businesses, the village wants to cash in on their investment.
The proposals being brought forward to the village council advertise bringing a hotel to the property.
"I think it's a great idea. Our personal experience has been great with partnering up with a hotel." Jay Timberlake of First Watch Daytime Cafe said.
The cafe opened up in the plaza near Wellington Green Mall just weeks ago.
With only one hotel in the city, opening a new restaurant was difficult.
"When we had our trainers come into town, we had to have our trainers stay closer to the beach which took upwards of 45 minutes," Timberlake said. "Our staff had to work longer hours and increased our opening budget."
Two proposals are being unveiled for the 67 acre lot off State Road 7 and Stribling way.
Both boast a hotel on the corner.
One proposal wants a baseball complex on the land and the other wants a horse facility.
"Honestly I wasn't excited about the horse park idea because I don't think you'd want to trailer your horses up and down 441," Councilwoman Anne Gerwig said. "It's kind of a dangerous roadway."
K-Park is part of an $8 million bond the village is paying on the land they purchased in 2004.
Appraisers tell the village they could get anywhere from $7 million to $14 million for the property now.
"If we did it ourselves got it rezoned for the hotel and shops and did that part of it I would think it would be more marketable," Gerwig said.
Whatever option the village chooses, First Watch Cafe thinks a hotel should be involved.
"I think Wellington is growing at a very fast pace and the hotel will help that pace," Timberlake said. "I think it's just what the area needs and I think it will help the businesses as well."
The lease is up for the farming company in June, but the council said that's not a deadline to pick a plan for the K-Park property.
Gerwig said they want to make sure they get a good return on their investment.
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