- May 20, 2026
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Construction around Lakewood Ranch is an ordinary sight, but to see construction on Rodeo Drive between The Fish Hole Miniature Golf and Michael Saunders and Co. is extraordinary.
At least it is extraordinary considering the parcel's history.
The plans for the parcel along Lake Uihlein have undergone countless revisions, and it took nearly 20 years to move beyond site work and to begin vertical construction.
Only the name, Lakeshore, has remained the same. The project that was originally designed as the Lakeshore at Lakewood Ranch condominium complex in 2006 is now being built as Lakeshore Townhomes.
Frank Dagostino, the CEO and founder of Dag Bros Development, LLC, bought the property and plans in 2020, and is the developer who will see the project through the finish line.
He bought the package to build condos, but an error discovered by a surveyor changed the plan to townhomes.
Long before Dagostino bought the property, land on the outer edges of the parcel were purchased to be used for the project. However, the paperwork wasn’t filed properly so those pieces didn’t become part of the whole.
Dagostino decided not to pursue title challenges and later decided it would be easier to change his plans. In lieu of purchasing additional land, Dagostino's contractor suggested scaling the project down from condos to townhomes.
The project broke ground in November.
Construction is being split into two phases. The west side of the project is Phase I, and the east side is Phase II. Each phase is projected to take 18 months at the most to complete.
Adam Myara, the real estate agent who’s been marketing Lakeshore since Dagostino took over, has a contract on one unit that is under construction and the other unit in that particular building will be the model. He’s backing off pre-sales this time around until construction begins on the units.
In addition to the name, the other prevailing theme across every iteration of Lakeshore was custom luxury — penthouses, concierge service, $25,000 optional locked cabanas, and fully customizable units.
Myara secured pre-sale contracts on the original condos. The owners spent hours with the interior designer choosing colors and materials.
Myara got to know one buyer, a former New York City executive who lived and worked in the city during the Sept. 11, 2001 attacks. She was ready to retire, leave her high rise in New York and split her time between Lakewood Ranch and Paris.
She had customized the condo to include special-order appliances from Germany and a climate-controlled purse room, which would have required the installation of a dehumidifier to prevent mold, mildew and any damage to the purses. Moisture can warp leather.
It was a bad day at work for Myara in 2023 when he had to tell her that after all that planning, her retirement retreat would not be built.
“She cried,” he said. “I felt bad for all the people that I had to cancel contracts with. They were all looking forward to living here and making that place their home.”
Dagostino was just as disappointed.
He said the delay reset the project’s timeline by nearly three years and the changes resulted in well over $1.5 million in additional expenses on architecture, engineering, revised site work and redesigned utilities.
Even after construction started, the project hit another snag. A code change in November required fire suppression in the building with only two units. The code used to require fire suppression in a building with three or more units.
The newly installed drywall and freshly-packed insulation had to be torn from the beams.
“In hindsight, while the project has definitely had its ups and downs, I still believe in the location and the overall vision for the development,” Dagostino said. “Development projects of this size and complexity almost always evolve over time, and this one certainly required us to adapt more than expected.”
Luxury remains a key element of the project. All the materials are high-end, and upgrades are available.
The approach to construction has been tailored, too. Dagostino is taking his time. He described the current market as not bad, but all over the place.
Even though the financing has been secured, Dagostino said Phase II will start when Phase I is completely closed out and the bank is paid back.
He spoke about the condos and the townhomes as two completely separate projects, noting that the condo project was a three-year “revamp.” The townhomes aren’t delayed; they’re on track.
The East County Observer has been following the Lakeshore development since 2015 when the project underwent its first revamp. Reporting from four different reporters — Pam Eubanks, Jay Heater, Ian Swaby and Lesley Dwyer — contributed to this 20-year timeline.
2006: The Lofts opened on Main Street at Lakewood Ranch. Realco and Casto, two development firms, partnered to develop the 20-unit condo complex located above the businesses on Main Street. The two firms continued the partnership and started planning The Lakeshore at Lakewood Ranch — 44 luxury, Mediterranean-style condos in the current location along Rodeo Drive.
2007: Building permits were issued for the condos, and the underground site work was completed.
2008: The market crashed, and the project was put on hold.
2014: Realco’s managing partner, Larry Pearce, bought out Casto and hired Gary Hoyt as the architect and John Swart as the project manager. Swart was Lakeshore’s original project manager and served as the former president of Lakewood Ranch Commercial Realty. Pearce and Swart changed the buildings’ design aesthetic from Mediterranean to Parisian. The starting price of a penthouse was anticipated at over $1.5 million.
2015: Pearce was diagnosed with cancer and decided to sell the plans and property as a package.
2016: The Bullard Group, a development company based in Clearwater, bought the package. The firm tweaked the plans to include larger master suites, expanded terraces and other design changes. The number of units dropped from 44 to 40.
2017: The Bullard Group listed the package on Realtor.com for $2.6 million.
2020: Frank Dagostino bought the package.
2021: The plans were revised again. Dagostino reduced the number of units from 40 to 32 to ensure ample parking. Additional amenities were added into the plans, such as concierge service and a rooftop tiki bar.
2022: Prospective residents reserved pre-sale units. Prices ranged from $960,500 to $2.1 million.
2023: The site was being prepared for construction and units were sold when a surveyor discovered that the proposed buildings were encroaching on common areas. Although Pearce had purchased those common areas, he didn’t follow through with the proper approvals.
2024: Dagostino applied for permits on a new townhome project with 36 units.
2025: Lakeshore Townhomes broke ground in November.
2026: The first townhome was put under contract. The model is anticipated to open in July. The units along Rodeo Drive start at $699,999, and the waterfront units start at $899,999. Myara is hoping to host a grand opening in July.
