Pasco County apartment complex under construction sells for $16 million

A 384-unit apartment community under construction in Wesley Chapel has sold to a North Carolina multifamily developer.

The 19.44-acre Pasco County property at the southwest corner of State Road 56 and Meadow Pointe Boulevard was bought by the Aventon Cos. for $16.25 million.

The seller was Clearwater Bay Associates, according to Colliers, which announced the deal and represented the company, which is focused on land holdings, property management and farming.

The firm says construction on what will be called Aventon Wesley Chapel started in July, and leasing is expected to begin in early 2028.

The community, when complete, will include one-, two- and three-bedroom units across six garden-style residential buildings. The amenities package is expected to include a resort-style swimming pool, 24-hour fitness center, pet spa and clubhouse with coworking space.

This deal, says Colliers, is just the latest between Clearwater Bay Associates and Aventon Cos. Clearwater Bay previously sold the Raleigh developer land near State Road 54 and Meadow Pointe Boulevard for Aventon Meadows, an apartment community that opened in 2024.

And earlier this year, Aventon bought a 13.58-acre assemblage in New Port Richey from the Little family for $5 million. It is building Aventon Eva, a 270-unit community, on the site.

Colliers’ Steve Lannon and Lee Arnold represented Clearwater Bay Associates in the deal. Aventon was represented by Coldwell Banker’s Eric Joseph.