Neal buys Creekwood property

CREEKWOOD — Developer Neal Communities soon will add a new community to its portfolio.
The company closed Oct. 30 on an 88-acre parcel, off 44th Avenue East, within the overall Creekwood development.

“I’ve been looking to buy this property for 10 years at all different prices,” Neal Communities CEO Pat Neal said, adding the site is close to Interstate 75, good schools and businesses. “We were very lucky to be able to buy this property.”

Neal purchased the site from Corona Creekwood LCC for $5 million. The property last sold in 2008 for $896,000, Manatee County property records show.

Located at the northeast corner of Creekwood Boulevard, just east and south of Creekwood Park, the project will be called the Ridge at Creekwood Crossing. Although within Creekwood’s boundaries, the 138 single-family home community will be developed as its own private community, said Neal’s Vice President of Marketing Leisa Weintraub.

“It will be our Celebration homestyle, which is our most popular-selling home,” Neal said, adding the product is sold out in several Central Park neighborhoods. “It’s the most adaptable of all seven home styles and has great plans for active adults or families with children.”

Homes will range from about 1,700 to 2,500 square feet. Pricing has not yet been finalized.

The community’s main feature is a large central lake. Neal will provide a kayak launch, among other amenities, including a pool and covered shade structures, Weintraub said.

Construction on the community likely will begin in the spring or summer of 2015 with model homes opening that fall.

The property originally was slated for 468 multifamily units, but has since been entitled to 138 single-family units.

Contact Pam Eubanks at [email protected].

BY THE NUMBERS
88 - Acres of the project site.

$5 million - Amount Neal paid to acquire the land.

138 - Single-family houses planned.