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BUYER: The Ryland Group Inc., Riverview
SELLER: Armenian Church of America (Eastern)
PROPERTY: 7020 90th Ave., Pinellas Park
PRICE: $1.31 million
LAW FIRM ON DEED: GrayRobinson PA, Tampa
PLANS, DESCRIPTION: National homebuilder Ryland Homes purchased just less than six acres to the south and east of the St. Hagop Armenian Church building for $1.31 million.
The property is located across Belcher Road from the existing Bayou Cove community and is north of the Bayou West residential development.
The homebuilder plans to develop a community with 22 home sites.
“Finding a property that's contiguous to put 20 to 25 homes on is very rare, and we felt it was an opportunity to tap into the pent up [residential] demand in Pinellas County,” says Joe Fontana, Tampa division president of Ryland Homes.
Ryland is working on the infrastructure for the community and hopes to have a model home there by the first of the year and start sales in January or February.
Homes in the community are expected to range in size from 2,500 to 4,000 square feet and start in price at the high $200,000s.
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