Jacksonville-based developer GreenPointe Communities purchased 932 acres for $13.25 million.
BUYER: Belmont Real Estate LLC (properties: Edward Burr), Jacksonville
SELLER: Belmont Land Acquisition LLC
PROPERTY: on U.S. 301 just south of Big Bend Road, Riverview
PRICE: $13.25 million
LAW FIRM ON DEED: White & Case LLP, Miami
PLANS, DESCRIPTION: Jacksonville-based developer GreenPointe Communities purchased 932 acres for $13.25 million.
The purchase price equated to $14,212 per acre.
According to GreenPointe Communities officials, the property is fully entitled and plans are in place for 2,123 residential units with a county park and an elementary school.
The property is located on U.S. 301, just south of Big Bend Road in southern Hillsborough County
Indeed, the Tampa location was the biggest draw for the developer. But the property also features finished home sites and homes, which is expected to speed up development of the remainder of the community.
GreenPointe plans to work with the existing homebuilder at Belmont but it will also invite additional builders to the project. Belmont will be one of its first ventures for GreenPointe Communities and its parent GreenPointe Holdings LLC, which was formed in 2008.