A subsidiary of homebuilding giant Lennar has snapped up acreage in a new development on the Westshore waterfront with plans to acquire more land in the development by 2018.
Bonita Springs-based WCI said it paid $2.5 million for 2.35 acres in Westshore Marina District, a mixed-use area on the waterfront near the intersection of Westshore and Gandy boulevards. WCI is planning 35 luxury townhouses on that site, the first for-sale product planned in the district.
WCI is planning to take a much larger position in the district in the coming months. The builder said it is under contract on another site for $12 million and plans to close 9.5 additional acres of waterfront land by early 2018.
Earlier this year, Miami-based Related Group 8.5 acres in the district, where it is planning a luxury multifamily building.
BTI Partners, based in Fort Lauderdale, is the master developer of the project, which could eventually include the following breakdown of uses:
- 1,750 residential units
- 200-room hotel
- Retail, restaurants and office space
- 185 to 240 marina slips
- 1.5-mile waterfront park
“The fact that two seasoned developers have come on board to build within the marina district speaks to the huge demand and excitement for a well-thought out new mixed-use community along Tampa Bay’s waterfront,” Beck Daniel, executive vice president of development for BTI, said in a statement. “Westshore Marina District will add amenities and inject life to the neighborhood as BTI continues to invest resources to implement its vision and the city’s desire to revitalize the waterfront. We want this project to be the fulcrum of new development from which residents can easily explore all that Tampa and St. Pete have to offer.”