WCI Communities bought land for a townhouse construction project in the Westshore Marina District, a master planned development in Tampa.
WCI, a subsidiary of Miami-based Lennar Corp., plans to build 35 townhouses on the 2.35-acre site, which it bought for $2.5 million.
The WCI development site is adjacent to an 8.5-acre site where Miami-based Related Group plans to build 396 rental apartments. Related paid $11.81 million for the land in February.
WCI is under contract to buy an additional 9.5 acres in the marina district from its master developer, Fort Lauderdale-based BTI Partners.
BTI has sold or put under contract $40 million of land in the district, located near the Gandy Bridge and the intersection of Gandy Boulevard and Westshore Boulevard.
The marina district ultimately will have as many as 1,750 residential units, a 200-room hotel, as many as 250 boat slips and a 1.5-mile waterfront park, plus retail stores, restaurants and offices. [Tampa Bay Times] – Mike Seemuth