Aventon has acquired a nearly 20-acre site in Wesley Chapel for $16.25 million, advancing plans for a new multifamily community in the fast-growing area. The land is located at the intersection of State Road 56 and Meadow Pointe Boulevard and was sold by Clearwater Bay Associates, a privately held Florida corporation focused on land holdings, property management and farming.
Clearwater Bay Associates was represented in the transaction by Steve Lannon and Lee Arnold of Colliers. Buyer representation was provided by Eric Joseph with Coldwell Banker NRT. The trade sets the stage for a ground-up rental community that will add several hundred new units to the local housing stock.
Aventon Companies has already broken ground on the project, known as Aventon Wesley Chapel, with site work beginning in July. Plans call for a 384-unit apartment community configured in six garden-style residential buildings. The buildings will be organized around a scenic pond, positioning the water feature as a central amenity and visual focal point for residents.
The unit mix at Aventon Wesley Chapel will span one-, two- and three-bedroom apartments. While specific floor plan sizes and interior finishes were not disclosed, the project is designed as a modern garden-style community rather than a mid-rise or high-rise format. Leasing is expected to begin in early 2028, indicating a multi-year construction and stabilization timeline before the property reaches full occupancy.
Planned shared amenities include a swimming pool, a 24-hour fitness center, a pet spa and a resident clubhouse. The clubhouse program is slated to offer dedicated coworking space as well as areas for residents to gather and socialize, reflecting ongoing demand for flexible work-from-home options and communal spaces within multifamily properties.
The latest transaction continues an existing relationship between Aventon and Clearwater Bay Associates. Clearwater Bay previously sold Aventon a separate land parcel near State Road 54 and Meadow Pointe Boulevard, where Aventon developed Aventon Meadows, an apartment community that opened in 2024. That earlier project, shown in the accompanying image, provides a recent point of reference for the type of multifamily product Aventon is delivering in the Wesley Chapel area.
With the new acquisition and construction start at Aventon Wesley Chapel, Aventon is expanding its footprint in the local multifamily market alongside a landowner that has been active in the corridor over multiple cycles. The combination of a sizable unit count, a phased development timeline and a repeat land seller underscores ongoing investment interest in purpose-built rental housing in Wesley Chapel.
