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The Business Observer is the leading provider and most authoritative source of business and economic information affecting the Florida Gulf Coast from Tampa Bay to Naples.
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News
Work underway at Lee project that includes 600 apartments, 190-room hotel
2+ day, 22+ hour ago (165+ words) Construction is underway on the first phase of a new mixed-use development in Estero after the developers secured an $81.5 million construction loan. The unnamed development is at 23281 Lynden Drive, across from the Coconut Point mall. When complete, FRP Development Corp....
$197M construction loan secured for Naples condo
2+ day, 19+ hour ago (207+ words) Business Observer $197M construction loan secured for Naples condo Two Florida developers have secured $197 million in financing for a high-end condominium on the Gulf in Naples. Kolter Urban and BH Group obtained the construction loan to support the development of Olana…...
Philadelphia investor pays $29M for Pasco County shopping center
4+ day, 15+ hour ago (204+ words) CenterSquare Investment Management, a suburban Philadelphia real estate firm, has bought the Pasco County shopping center the Hub at Bexley. The firm, according to a statement, bought the 50,300-square-foot Land O’ Lakes shopping center in part because it “fits our…...
Sarasota County advances 5,700-home project near Palmer Ranch
4+ day, 14+ hour ago (539+ words) The developers of Sarasota’s master-planned community Palmer Ranch – Palmer Ranch Holdings, headed up by philanthropist and businessman Hugh Culverhouse — received unanimous approval from Sarasota County commissioners for its latest project: Palmer East. Proposed to be built over 20 years, the master-planned…...
Sarasota County faces four Live Local Act lawsuits, at least 4,000 units at stake
1+ week, 3+ day ago (1287+ words) Key takeaway: Sarasota County has been sued four times in recent months by four separate development entities alleging the county, and in two cases, individual commissioners, violated provisions of Florida's Live Local Act. Core challenge: Live Local was written to…...
324-unit downtown Sarasota apartment complex proposal wins key approval
2+ week, 3+ day ago (588+ words) A proposal to develop an entire block along Fruitville Road in downtown Sarasota where a current bungalow village of small businesses now stands took another step forward with two adjustments unanimously approved by the Sarasota Planning Board. At its Aug....
Developer secures financing for $39M Pasco affordable housing project
2+ week, 4+ day ago (251+ words) McDowell Housing Partners, an affordable housing developer and investment company, has closed on the financing for and has started construction on the second phase of a $38.9 million development in Pasco County. The project is Ekos at Bayonet Point II, part…...
From Big Macs to big retreat: Caspers plan 550-acre Pasco, Hernando luxury resort
3+ week, 3+ day ago (938+ words) Key takeaway: Tampa’s Casper family plans to transform 550 rural acres in Pasco and Hernando counties into a luxury resort, equestrian and residential retreat. Core challenge: The Caspers must win government and community support for a large luxury development in an…...
Pasco County apartment complex under construction sells for $16 million
3+ week, 4+ day ago (224+ words) A 384-unit apartment community under construction in Wesley Chapel has sold to a North Carolina multifamily developer. The 19.44-acre Pasco County property at the southwest corner of State Road 56 and Meadow Pointe Boulevard was bought by the Aventon Cos. for…...
North Port daycare property sells for $3.6 million
4+ week, 1+ day ago (136+ words) Marcus & Millichap has closed on the sale of a North Port building leased to La Petite Academy. The firm says the New Jersey buyer, an investor, picked it up as part of a 1031 Exchange for $3.64 million. Sarasota County property records…...