Residential developer buys 300-acre site in Sarasota County for $18M

Neal Land Ventures paid $60,000 per acre for the land in Venice, which is zoned for about 1,500 homes

TRD MIAMI /
Jun.June 24, 2018 11:00 AM

John Neal, president of Neal Land Ventures

A residential real estate developer paid $18 million for 300 acres in Sarasota County where an affordable housing project fizzled.

The land in Venice is zoned for construction of approximately 1,500 homes, senior housing and medical facilities.

Led by John Neal, Lakewood Ranch-based Neal Land Ventures paid $60,000 per acre to acquire the land from Gulf Coast Community Foundation.

About 10 years ago, economic recession ended the foundation’s plan to build homes at the 300-acre site to promote housing affordability in Sarasota County.

A spokesman said the foundation’s board last year decided to market the land for sale.

Three agents of Ian Black Real Estate represented the foundation in the $18 million sale: Michelle Fuller, Matt Kezar and Stacy Rosenberg.

According to its website, Neal Land Ventures owns 290 acres in Venice and more than 750 acres in Manatee County’s North River Ranch. [Business Observer]  – Mike Seemuth


Related Articles

arrow_forward_ios
Gables Town Colony apartment complex, Sue Ansel of Gables Residential

Gables Residential scores $85M loan for Boca Raton apartment complex

Gables Residential scores $85M loan for Boca Raton apartment complex
Broadstone City Center with Alliance Residential’s Bruce Ward and Nuveen CEO Jose Minaya

Nuveen pays $103M for West Palm luxury apartments

Nuveen pays $103M for West Palm luxury apartments
Edmund Ansin and the property (Credit: Google Maps)

Billionaire TV family sells Miramar property to Florida Crystals

Billionaire TV family sells Miramar property to Florida Crystals
Toscana apartments and Juan Porro of FCI Residential

Florida Crystals sells Margate rentals for $60M

Florida Crystals sells Margate rentals for $60M
From left: Andrea and Renzo Rosso

Diesel family dishes on Wynwood condo project

Diesel family dishes on Wynwood condo project
 4601 Le Jeune Road, Jose Boschetti and Maurice Boschetti

Gables Residential sells dev site near Shops at Merrick Park

Gables Residential sells dev site near Shops at Merrick Park
Greg Pinkalla and ORA Flagler Village Apartments (Credit: Google Maps)

Fairfield Residential sells new Flagler Village apartments for $92M

Fairfield Residential sells new Flagler Village apartments for $92M
Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...