Business Observer

+ Neal purchases more than 60 acres
Pat Neal, operating under the limited-liability company of Stirling Equity Group LLC, recently purchased 63.8 acres in Lakewood Ranch’s Country Club East from Schroeder-Manatee Ranch subsidiary LWR Communities LLC for $4.81 million, which equates to $75,356 per acre.

Neal Communities has already started work on revising the final site plan for the property but expects to develop 173 to 181 maintenance-free and single-family homes. The homebuilder, who will be the exclusive homebuilder for the property, is scheduled to begin work on the infrastructure in late 2010.

The neighborhood, located on Players Drive north of Robert E. Willis Elementary School and east of Lorraine Road, is currently unnamed. It will more than likely share the name of a famous golf course, following the example of the other neighborhoods in Country Club East.

“Sales in Lakewood Ranch point to the viability of this market,” Neal said in a press release. “I have a continued confidence in both Lakewood Ranch and Country Club East based on our positive sales results over the last few months. We are anxious to move forward with the development and construction of 181 new homes in this section of Country Club East.”

The gated Country Club East features lakes, nature preserves and an 18-hole Rick Robbins-designed golf course. Another golf course and clubhouse are planned for the village sometime in the future.

+ University Park sees renewed energy
With 46 new and existing home sales and club memberships at an all-time high, University Park Country Club saw a renewed energy and enthusiasm for country-club living.

In 2009, sales of single-family homes were up more than 30% from a year ago and an additional 13 pending sales were expected to close by the end of the year. Included are the sales of four of the remaining 20 premier new-home sites, with custom home designs prepared by leading local builders, including Neal Communities, Todd Johnston Homes, Anchor Builders, Najjar Construction and John Cannon Homes, which recently broke ground on a series of new custom homes in the Grosvenor Gardens neighborhood.
Additionally, Neal Communities is also building new homes in the Hampton Green neighborhood.

For more information on University Park Country Club, visit www.universitypark-fl.com or call 355-3888 for the country club or 351-7777 for the real-estate office.