Colliers' Steve Lannon and Lee Arnold, CCIM Broker $16.25 Million Wesley Chapel Land Sale for Clearwater Bay Associates as Aventon Wesley Chapel Owner, LLC Plans 384-Unit Community

Colliers represented Clearwater Bay Associates, Inc. in the $16.25 million sale of 19.44 acres at the southwest corner of State Road 56 and Meadow Pointe Boulevard in Wesley Chapel, Florida, the firm announced Aug. 18. Aventon Wesley Chapel Owner, LLC acquired the site to develop Aventon Wesley Chapel, a planned 384-unit apartment community that is now under construction.

Steve Lannon and Lee Arnold, CCIM, both of Colliers, represented the seller, Clearwater Bay Associates, in the transaction. Eric Joseph with Coldwell Banker NRT represented the buyer.

Deal Terms and Site Details

The 19.44-acre parcel is located within the Wesley Chapel Lakes Master Planned Unit Development in Pasco County, at the southwest quadrant of the SR 56 and Meadow Pointe Boulevard intersection. The land changed hands at approximately $836,000 per acre, or roughly $42,000 per planned unit on a land-cost basis.

Aventon Companies broke ground on Aventon Wesley Chapel in July 2026. The community will comprise 384 units across six garden-style residential buildings organized around a central pond. Planned unit types include one-, two- and three-bedroom apartments. Leasing is anticipated to begin in early 2028.

Planned amenities include a resort-style swimming pool, a 24-hour fitness center, a pet spa and a resident clubhouse with dedicated coworking space and social gathering areas. The site sits approximately four miles from Interstate 75 and near The Shops at Wiregrass, The Grove at Wesley Chapel and Tampa Premium Outlets.

Broker Commentary on Wesley Chapel Market

"This transaction reflects the continued strength of Wesley Chapel as a growth market and the demand for well-located development sites along major transportation and employment corridors," said Lannon, senior asset manager with Colliers. "Aventon recognized the long-term potential of this property, and its planned community will add another high-quality housing option, as more residents and employers continue to move into the area."

"Wesley Chapel has experienced tremendous residential and commercial growth, supported by its proximity to I-75, expanding medical sector and strong schools," said Arnold, executive chairman of Florida with Colliers. "This site sits at the heart of that growth, and the sale demonstrates the continued interest from experienced multifamily developers looking to invest in the market."

Existing Relationship and Aventon's Corridor Strategy

The transaction extends an existing land-seller and developer relationship between Clearwater Bay Associates and Aventon Companies. Clearwater Bay previously sold Aventon land near State Road 54 and Meadow Pointe Boulevard for Aventon Meadows, an apartment community that opened in 2024. The latest deal deepens Aventon's presence along the SR 56/SR 54–Meadow Pointe Boulevard corridor in the greater Tampa metropolitan area.

Earlier in 2026, Aventon Companies also purchased a 13.58-acre land assemblage in New Port Richey, Florida, for $5 million from The Little Family to build Aventon Eva, a 270-unit multifamily development.

Site Entitlements and Corridor Context

The Wesley Chapel Lakes MPUD, which encompasses the Aventon Wesley Chapel site, carries entitlements for approximately 850 multifamily units and townhouses across the broader planned development, along with 420,000 square feet of commercial and retail space, 150,000 square feet of office and light industrial space, and 700 hotel rooms. Conceptual build-out dates for later phases of the MPUD extend to December 31, 2027, supporting a multi-year pipeline of mixed-use growth around the Aventon site.

The Florida Department of Transportation has a $19.8 million improvement project underway along the SR 56 and Bruce B. Downs corridor, including upgrades to the Meadow Pointe Boulevard merge onto SR 56, with work scheduled through fall 2027—overlapping with Aventon Wesley Chapel's construction and early lease-up period.

Clearwater Bay Associates, Inc. is a privately held Florida corporation focused on land holdings, property management and farming.

Sources

Colliers – Colliers Represents Seller in $16.25 Million Land Sale in Wesley Chapel, FL