Standard Pacific Homes pays $25 million for Wiregrass land

BUYER: Standard Pacific of Florida, Tampa
SELLER: Sierra BBD Property LLC
PROPERTY: a portion of County Road 581 and including a portion of the proposed Porter Boulevard, New Tampa
PRICE: $24.95 million
PREVIOUS PRICE: $5 million, December 2009 (included additional parcels)
LAW FIRM ON DEED: Foley & Lardner LLP, Tampa

PLANS, DESCRIPTION: Standard Pacific Homes purchased 675 acres of land in Wiregrass from Sierra Properties for $24.95 million.

The price equated to $36,963 per acre.

The homebuilder says it is still putting together its development plans and construction schedule for the property. It hasn't selected a name for the project yet, according to Danielle Tocco, the company's director of communications.

Standard Pacific Homes expects to create 1,180 home sites on the property and four distinct neighborhoods. The builder plans to offer 20 home models, ranging in size from 1,800 to 5,000 square feet, in the development.

Located a few miles from The Shops at Wiregrass, the community will also feature tennis courts, a clubhouse, lap pool, lagoon-style pool, playfield and walking trails.

“As one of the few remaining parcels of land in this prestigious setting, Wiregrass is a perfect match for Standard Pacific Homes' growth strategy, which focuses on building exceptional communities in premier locations,” Southeast Regional President for Standard Pacific Homes, David Pelletz, says in a press release. “The top-caliber quality of the community will serve as a flagship for future master-planned communities being created by Standard Pacific Homes in the Florida market.”