Coventry Park Development Site_Property for Sale

5901 Erie Rd, Parrish, FL, 34219-8513, US

Coventry Park Development Site

Asset Description

Jones Lang LaSalle, Inc. (“JLL”) is pleased to present the opportunity to acquire the Coventry Park Development Site (the “Property” or “Site”), a ±105-acre multi-family development site located in the rapidly growing Sarasota MSA. The Property has received General Development Plan (“GDP”) approval for a 250-unit multi-family community on an 18.6-ac portion of the Property. All that remains in terms of required approvals necessary to permit the proposed improvements is Final Site Plan Approval, which is limited to an administrative process and handled at staff level with Manatee County. Therefore, a developer can quickly capitalize on the outsized demand fueling the multi-family space in one of the country’s hottest housing markets.

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Attributes

Land area net

42.49 ha (424,920 m²)

Media

Investment Highlights

The site is northeast of Bradenton across the Manatee River in Manatee County, one of the fastest growing locations along the West Coast of Florida with over 25,000 homes planned. It is within an easy commuting distance to Downtown St. Petersburg, Bradenton, Sarasota, and Tampa.
Located just north of Lakewood Ranch, the second fastest growing master-planned community in the US, the North River area is expected to grow rapidly over the next 20 years with many of the home builders already working on sites nearby the Coventry Park Development Site.
Ability to utilize the existing approved GDP for a 250-unit multi-family community on approximately 18.6-acres of the site provides for an efficient administrative Site Plan process limited to County staff approval. The remaining +/- 40-acres of developable land may be contemplated for additional future development potential.