Pulte Home buys 643 acres for Del Webb at Lakewood Ranch

BUYER: Pulte Home Corp.
SELLER: Schroeder-Manatee Ranch Inc.
PROPERTY: a portion of 16807 and 17501 E. State Road 70 and 8105 University Parkway, Bradenton
PRICE: $24 million
TITLE FIRM ON DEED: University Title Services LLC, Lakewood Ranch

PLANS, DESCRIPTION:
Pulte Home Corp. purchased 643.35 acres of agricultural land in Lakewood Ranch for $24 million.

The price equated to $37,305 per acre.

The homebuilder plans to develop the property into a residential community, under the name of Del Webb at Lakewood Ranch. As conceived, the project will feature 1,300 residential units in a mixture of single-family and attached homes. The development will be age restricted to buyers who are 55-years-old and older.

“We expected to break ground after the new year,” says Valerie Dolenga, a Pulte Home spokeswoman. “Our first phase will be about 392 homes.”

The community will also feature a heated swimming pool and spa, fitness center, tennis, bocce and pickleball courts, a clubhouse, walking trails and an event lawn.

The homebuilder mortgaged the property to its seller, Schroeder-Manatee Ranch Inc., for $15.6 million.