Loading
BUYER: Discovery Village at Sarasota Bay LLC (principals: Richard Hutchinson, Thomas Harrison and Al Hoffman), Bonita Springs
SELLER: Gulfside Homes — Bowlees Creek LLP
PROPERTY: 1406 and 1414 W. 69th Ave., Bradenton
PRICE: $2.4 million
PREVIOUS PRICE: $1.7 million, November 2004
LAW FIRM ON DEED: Dunlap & Moran PA, Sarasota
PLANS, DESCRIPTION: An affiliate of Bonita Springs-based Discovery Senior Living purchased 10.98 acres of vacant land west of U.S. 41 for $2.4 million.
The price equated to $218,637 per acre.
The senior-housing company plans to develop a new Discovery Village residential community on the site. The 130,000-square-foot, single-story building will feature 66 assisted-living units, 30 units of supervised independent living and 30 units devoted to residents needing memory care services. Its amenities will include an indoor therapy pool, three dining venues, a movie theater and physician's office.
“This is a tremendously underserved market,” says Thomas Harrison, Discovery Senior Living's CEO. “This property goes all down the Sarasota Bay. Although we aren't on the bay ourselves, it is contiguous to the waterfront so there are great views.”
Discovery Senior Living expects to start construction in the second quarter of the year to open around the second quarter of 2015.
Harrison says Douglas Construction of Nebraska will be the general contractor and Architectural Concepts Inc. of Largo designed the project.
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
