Aventon Companies Acquires 13.58-Acre New Port Richey Site for $5 Million in Multifamily Real Estate Deal

Aventon Companies, a multifamily developer and general contractor active across the Mid-Atlantic and Southeast U.S., has completed a real estate acquisition of a 13.58-acre land assemblage in New Port Richey, Florida for $5 million, with plans to develop a 270-unit apartment community called Aventon Eva. The Little Family sold the property, located at 8620 Decubellis Road, according to an announcement from Colliers.

Casey Babb, CCIM, Shawn Rupp, Mark Eilers, and John Ruscigno of Colliers represented the buyer in the transaction. The deal carries an implied land cost of approximately $18,500 per planned unit.

Multifamily Development Details and Amenities

Aventon Eva will be developed within Lennar's approximately 1,000-acre New Port Corners master-planned community. The project will span nearly 14 acres and feature 270 apartment homes across three-story, garden-style buildings. The unit mix will include one-, two-, and three-bedroom floor plans.

Planned amenities include a resort-style pool, a clubhouse with dedicated remote workspaces, a pet spa, and a 24/7 fitness center, with an emphasis on indoor-outdoor living. Aventon Companies has already broken ground on the property and expects to begin leasing in July 2027.

The project marks Aventon Companies' third community in the Tampa Bay region. Since 2019, the firm has assembled what it describes as a $2 billion portfolio of ground-up developments, delivering nearly 9,000 apartment homes across Florida, Georgia, the Carolinas, and the Mid-Atlantic.

Tampa Bay Market Conditions

Colliers brokers cited shifting supply-demand dynamics in the Tampa Bay multifamily market as a key factor underpinning the deal's timing. "For the first time in years, rental demand in the Tampa Bay area is expected to far exceed new supply," said Casey Babb, CCIM, of Colliers. "Aventon is one of the premier developers in the apartment industry and their project will be meticulously curated, not to mention very well timed, to support the growing population of West Pasco County."

The Tampa Bay area leads Florida in job growth, having added more than 14,000 jobs over the past year, according to the announcement. The New Port Richey site is located approximately eight miles from the new Moffitt Cancer Center Speros Campus, which is projected to generate more than 45,000 jobs.

Pasco County's Role in Regional Development

Tom Suminski, senior managing director of Aventon Companies, addressed the regional opportunity directly. "Tampa is one of the fastest-growing metropolitan areas in the U.S., yet there remains a need for high-quality, thoughtfully designed apartment housing," Suminski said. "Aventon Eva offers residents the opportunity to live at the center of this growth, with convenient access to employment, amenities and the region's top destinations."

Financing and Development Outlook

No financing terms were disclosed in connection with the land acquisition. The transaction is structured as a land purchase ahead of ground-up construction.

Sources: Colliers Tampa Bay — Multifamily developer acquires Pasco site for $5 million for apartment project (May 28, 2026)