Tampa-based Minto Communities could build up to 1,000 additional home sites.
Marking the company's second major land buy in the last eight months, Minto Communities has a pending agreement to acquire enough land to accommodate 1,000 new homes in Tampa's Sun City Center.
Financial terms of the deal were not disclosed in a release.
With a stated goal of increasing its market presence along Florida's Gulf Coast, Minto's latest acquisition follows the company's October 2009 purchase of the Perico Island property in Bradenton from the St. Joe Company.
Based in Tampa, Minto Communities is already in the process of building homes in Fish Hawk Ranch, Grand Hampton and Country Club East in Lakewood Ranch.