Lennar buys 2900 acres to develop new homes in Pasco

Pasco has seen its share of new homes development lately. The pace of this is not likely to slow with the recent announcement that Lennar acquired more than 2,900 acres from the Bexley family’s Angeline Corp. for $23.65 million earlier this year, according to property records.

While this does not mean that development will begin immediately or even soon, the land, which is located east of the Suncoast Parkway and south of State Road 52, is a separate and distinct community from other new home developments and Lennar is thinking through the development possibilities for new homes in Pasco County.

The Angeline family and Lennar have partnered on other projects (Bexley South would be an example) to develop land and so the opportunity for this to happen was not unexpected. They will still hold a significant amount of frontage property along SR 52 and other influention land holdings in town.

Lennar’s newly purchased property, north and west of the Bexley North site, includes no development entitlements. That said, there is little doubt about what the anticipated eventual result is. Lennar is looking forward to " engaging with a range of visionaries, civic leaders and the public, because we all have the opportunity to create a new community that (is) smartly planned, walkable, pays homage to the natural landscape and benefits everyone in Pasco County and the region overall." Lennar VP Metheny said. 

The size of the community is expected to be roughly similar to Starkey Ranch, in terms of acreage and also the number of available homes. 

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