Minto Communities buys Harbour Isle phase 4

BUYER: Minto Bradenton LLC (principals: William Bullock, Michael Belmont and John Carter), Tampa

SELLER: Hayden Lane I Ltd.

PROPERTY: the northern most portion of Perico Island, Bradenton

PRICE: $3.57 million

LAW FIRM ON DEED: Baker & Hostetler LLP, Orlando

PLANS, DESCRIPTION: Coconut Creek's Minto Communities LLC purchased its fourth phase of the take-down for the gated Harbour Isle on Anna Maria Sound for $3.57 million.

The price equated to $127,500 per acre.

The 28-acre parcel can support 100 residential units, according to Bill Bullock, Minto Communities' vice president of West Central Florida.

Currently, the community has 18 units on the site and another 45 under construction.

“Things are going very well on the island, purely in terms of volumes of sales,” Bullock says. “Every time we release a new building we sell it off in about a week. We have a lot of folks on a waiting list.”

Bullock says that sales have tripled compared with last year, but he declined to provide specific figures.

Units in the development average more than $450,000. The company is scheduled to start next month on another phase of road and lots construction on a portion of the southern end of the development. The project already features a pool, but the developer plans to start work on an exercise lap pool and marina next year.