Aventon Companies has paid $16.25 million for 19.44 acres in Wesley Chapel, where construction is underway on a 384-unit apartment community.
Aventon Wesley Chapel Owner LLC acquired the property at the southwest corner of State Road 56 and Meadow Pointe Boulevard from Clearwater Bay Associates Inc. The purchase works out to about $836,000 per acre.
Aventon broke ground on the project in July. Plans call for one-, two- and three-bedroom apartments across six garden-style buildings centered around a pond, with leasing expected to begin in early 2028.
The development will include a swimming pool, 24-hour fitness center, pet spa and clubhouse with coworking and gathering space. The site is about 4 miles from Interstate 75 and near The Shops at Wiregrass, The Grove at Wesley Chapel and Tampa Premium Outlets.
The Wesley Chapel project extends Aventon’s presence in Pasco County. The company previously developed Aventon Meadows near State Road 54 and Meadow Pointe Boulevard, which opened in 2024.
Earlier this year, Aventon also paid $5 million for a 13.58-acre assemblage in New Port Richey, where it plans Aventon Eva, a 270-unit multifamily development.
Steve Lannon and Lee Arnold of Colliers represented Clearwater Bay Associates in the Wesley Chapel sale. Eric Joseph with Coldwell Banker NRT represented Aventon.
“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,” Lannon said.