Neal Communities buys first part of Boca Royale Golf, Country Club

BUYER: Resource Conservation of Sarasota LLC (principals: Patrick Neal and James Schier), Bradenton

SELLER: Boca Royale Golf Inc.

PROPERTY: a portion of Grande Fairway, Englewood also known as SEC 13 and 24-40S-19E

PRICE: $1.23 million

LAW FIRM ON DEED: Kass Shuler Solomon Spector Foyle & Singer PA, Tampa

PLANS, DESCRIPTION: Lakewood Ranch-based Neal Communities Inc. has closed on the first of six sections of property in Boca Royale Golf & Country Club for $1.23 million. The price equated to $6,796 per home lot.

Neal Communities previously announced it had an agreement to buy 467 acres of undeveloped land within the 800-acre golf club community of Boca Royale in south Sarasota County.

The first piece of land, known as block 11, contains land for 181 dwelling units. The property is planned for the firm's 2013-2014 sales season, according to company CEO Pat Neal.

“We are remodeling the country club at this time and intend to make it a luxurious golf course community similar to University Country Club [in Manatee County],” Neal says. “We plan to focus our development there for the next seven years.”

The builder expects to develop a total of 521 homes in Boca Royale Golf & Country Club.

The 34-year-old gated community contains 600 existing homes, an 18-hole golf course, tennis club, restaurant and 400 acres of wetlands.