Commercial real estate

Still more apartments planned
Continuing a surge of multifamily development in Southwest Florida, an Atlanta-based developer is planning 180 apartments on a nine-acre site off University Parkway in Sarasota County.

Waypoint Residential Services' plans in University Grove follow a $4.35 million land purchase on Oct. 30. The seller, a partnership composed of W.G. Mills and others, was represented by Lee DeLieto Jr. and Leon DeLieto Sr. of Michael Saunders & Co.

“The job growth there is tremendous, as are the household formations,” says Omar del Rio, Waypoint's director of development. “We love the area, and think 180 units is the right size for that market.”