The Real Deal Miami

Lennar pays $17M for 183 home sites near Tampa

Another company built homes on just 7 of 190 sites before quitting the project in 2009

June 25, 2016 02:00PM

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Aerial view of the Lennar development site in Ruskin (Credit: Tampa Bay Times and Google Earth)

Aerial view of the Lennar development site in Ruskin (Credit: Tampa Bay Times and Google Earth)

Miami-based home builder Lennar Corporation paid $17 million to take over an unfinished waterfront development in Ruskin, just south of Tampa.

Lennar acquired 183 home sites, most of them waterfront sites, at an unfinished residential development called Little Harbor, located along the shoreline of Tampa Bay.

The previous developer built homes on seven of 190 home sites at Little Harbor before the real estate market crash in 2009.

Lennar’s new homes at Little Harbor will range in size from 2,500 square feet to more than 4,000. Prices will range from $400,000 to $700,000.

Lennar expects to open its first model home at Little Harbor in September.

The Little Harbor development is located near the intersection of Shell Point Road and U.S. 41.

It is the first Tampa-area waterfront development by Lennar, which currently is building homes at 17 non-waterfront developments in the area.

Lennar expects Little Harbor to appeal to Tampa-area home buyers seeking lower home prices than in such waterfront locations as South Tampa, the Pinellas County beaches and downtown St. Petersburg. [Tampa Bay Times] — Mike Seemuth

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